BillionaireNet
family
M
Rank #559
UNITED STATESTechnologyNavigation equipment

Min Kao & family

Net Worth
$6.802B
+0.2% (24h)
Min Kao is a Taiwanese-American electrical engineer, businessman, and philanthropist, best known for co-founding Garmin in 1989. His vision brought Global Positioning System (GPS) technology to the consumer market, revolutionizing navigation. Kao's leadership has made Garmin a global leader in satellite navigation across various markets, including aviation, marine, and fitness. As of 2024, his net worth is estimated at $6.7 billion, reflecting his success in the navigation equipment industry.

The Full Dossier

Early Life and Education

Min Hwan Kao was born in Zhushan, Nantou, Taiwan, in 1949. He showed an early aptitude for mathematics and science, completing his primary and secondary education in Taiwan. Kao graduated from National Taiwan University with a bachelor's degree in electrical engineering. He then moved to the United States and earned both a Master of Science and a Ph.D. in electrical engineering from the University of Tennessee, Knoxville, in 1977.

Rise to Success

Kao's career began with research for NASA and the United States Army. He subsequently worked as a systems analyst for Teledyne Systems and as an algorithm designer for Magnavox Advanced Products. Later, he served as an engineering group leader for King Radio Corporation. In 1989, Kao co-founded Garmin with Gary Burrell. The company's name is a portmanteau of their first names. Kao served as CEO of Garmin until 2012 and now serves as Executive Chairman.

Key Business Strategies

Min Kao's leadership has been instrumental in Garmin's success. Under his direction, Garmin focused on innovation and adapting to changing market demands. The company's strategy involved expanding its product lines to cover aviation, marine, automotive, outdoor, and fitness markets. Garmin's emphasis on research and development, combined with a commitment to quality, has allowed it to maintain its leadership position.

Philanthropy

Kao is a notable philanthropist, supporting various educational initiatives, including significant donations to the University of Tennessee. He and his wife, Yu-Fan Kao, donated $12.5 million to construct a new engineering building at the university, which was enhanced to $37.5 million with state funding. They also established endowments within the department. The Kao Family Foundation, established in 2019, supports education and social welfare in Taiwan.

Career Timeline

2012

Stepped Down as CEO of Garmin

Transitioned from CEO to Executive Chairman, continuing to shape Garmin's strategy.

2011

Elected to the National Academy of Engineering

Recognized for leadership in developing and commercializing GPS navigation devices.

1989

Co-founded Garmin

Co-founded Garmin with Gary Burrell, revolutionizing GPS technology for consumer markets.

1977

Earned PhD in Electrical Engineering

Completed doctoral studies at the University of Tennessee, Knoxville.

Philanthropic Impact

Education$12.5M

University of Tennessee Engineering Building

Donated towards the construction of a new engineering building at the University of Tennessee.

Education and Social WelfareUndisclosed

Kao Family Foundation

Supports education and social welfare in Taiwan.

Education$5M

University of Tennessee Endowments

Established endowments to support the Min H. Kao Department of Electrical Engineering and Computer Science.

Wealth Trajectory