Kieu Hoang Winery
The first Vietnamese-American billionaire decided to be in the wine business. Over the summer, he purchased Michael Mondavi Family Estate Winery southwest of Napa and plans to grow a new high-end wine brand for Asian and U.S. markets. The deal included the winery and more than 20 acres of surrounding vineyards and plantable land in the Napa County side of Los Carneros winegrowing region for about $12 million. The winery can produce up to 100,000 cases per year.
Kieu Hoang, 69, started RAAS — “Rare Antibody Antigen Supply” — in 1980 as a supplier of blood plasma. The company built a large facility center in Shanghai, China and now offers a line of blood- and health-related products under their own brand KHKMY. The company went public in China and he is listed in Forbes Magazine with a net worth of over $2 billion.