Early Life
Details about Tong Yongsheng's early life are limited in available public sources. He was born in January 1969, in China.
Rise to Success
Tong Yongsheng's wealth is primarily derived from the family's stake in Zhejiang Longsheng Group, a leading manufacturer of textile dyes. The company benefits from the global textile industry. Tong himself leads Shenzhen Megmeet Electrica, a firm specializing in power electronics and automation control. He transformed the company into a profitable enterprise, overseeing expansion into multiple sectors, including smart home appliances, power supply products, and green energy.
Key Business Strategies
A key business strategy has been diversification, with Zhejiang Longsheng Group expanding into specialty chemicals and real estate. Megmeet has focused on establishing itself as a domestic supplier. In 2024, Megmeet participated in the designing of NVIDIA's Blackwell GB200 system. The company has set up R&D centers in the US and Germany and planned manufacturing constructions in Thailand, India, and the US.
Philanthropy
While the exact amounts and nature of Tong Yongsheng's philanthropic efforts are not readily available, there are various Tong family foundations. These include the Tong Family Foundation, which manages over $1.5 million in assets and funds projects in multiple cities in the US. The Tong & Danielle Family Foundation, with assets of $199,653, also supports projects in various US cities.