What was Momofuku Ando's net worth?
Momofuku Ando was a Taiwanese-Japanese businessman who amassed a net worth of $800 million at the time of his death on January 5, 2007, due to heart failure at the age of 96. He is acclaimed as the inventor of instant noodles (ramen) and the founder of Nissin Foods, which owns the popular brands Top Ramen and Cup Noodles.
At the time of his death, Nissin Foods had a market cap of $2 billion, annual revenue of $4 billion, and annual profits of $200 million. Today, Nissin Foods generates approximately $6 billion in revenue and $350 million in profits annually, with a market cap of $9 billion. If Ando were alive today, his 40% ownership of Nissin would be worth $3.6 billion, ranking him among the richest people in Japan.
Early Life
Momofuku Ando was born Go Pek-Hok on March 5, 1910, in Chiayi, Taiwan. He was the son of a wealthy textile merchant. After his parents died when he was young, Ando was raised by his grandparents. The name 'Momofuku' is the Japanese reading of his Taiwanese name, and 'Ando' was derived from his future Japanese wife's last name.
Displaying an early interest in business, Ando started his own textiles company at the age of 19, leading him to become one of the richest people in Taiwan.
Nikkin Chikin Ramen
In 1938, Ando relocated to Japan to expand his business ventures in the textiles industry and began exploring other business opportunities. By 1958, he successfully invented the first instant ramen noodles, named 'Chicken Ramen.'
Chicken Ramen was groundbreaking as it was the first food that could be cooked in just a few minutes and was highly affordable, making it an instant success and significantly raising Ando’s wealth.
Cup Noodles
In 1971, Ando introduced Cup Noodles, sealed cup instant ramen noodles. This product gained even more popularity than Chicken Ramen, turning instant noodles into a global phenomenon.
Ando's innovation focused on creating a more convenient and globally appealing product. As a result, Cup Noodles are now sold in over 100 countries and have become one of the world's most favored foods.
KAZUHIRO NOGI/AFP/Getty Images
Legacy
Momofuku Ando is regarded as one of the 20th century’s most significant inventors. His creation of instant noodles has become a staple food worldwide, greatly influencing the global food industry.
His work has provided affordable and convenient meals for millions, cementing his legacy as a pioneer. Ando’s contributions will continue to inspire future innovators and entrepreneurs.
Personal Life & Death
Ando was a devout Buddhist known for his generosity and commitment to social welfare. He often credited his longevity to playing golf and consuming Chicken Ramen daily.
Ando passed away on January 5, 2007, and was laid to rest in his hometown of Chiayi, Taiwan. He is survived by his wife, two sons, and a daughter. Posthumously, Ando was awarded the Order of the Rising Sun, Japan's highest civilian honor, and inducted into the National Inventors Hall of Fame.
Notably, David Chang's 'Momofuku' restaurant is named in homage to Momofuku Ando.
