Allan Chi Yun Wong is the founder, chair, and group CEO of the Hong Kong–based company VTech, one of the top 50 electronics manufacturers globally, with more than $1.8 billion in revenue.
After a brief stint at National Cash Register Company, Wong started VTech in 1976 as an electronics company that designed and manufactured home-gaming consoles, including Pong (an early video game based on table tennis).
In its first year, the company expanded from an initial investment of $40,000 to an annual revenue of just under $1 million. Under Wong’s direction, the company later focused on producing children’s learning products and cordless phones. In 1998, Business Week included him on its “World’s Top 25 Executives” list.
Wong serves on the board of China-Hongkong Photo Products Holdings Limited and Li and Fung Limited, and he’s also the deputy chairman and director of the Bank of East Asia, the third largest bank in Hong Kong. His government honored him with the Gold Bauhinia Star in 2008, and the United Kingdom gave him its Most Excellent Order of the British Empire award in 1997. He has an honorary doctorate from the Hong Kong Polytechnic University, and he served as a keynote speaker at the March 2017 Hong Kong chapter UW alumni event.
In 2016, Wong told CNN, “You don’t go into business to make money. You need to love your business, and you need to have passion, and you need to really want to make a difference in people’s lives. And making money is a byproduct, not the sole purpose.”
Published in the Winter 2018 issue