How to become a billionaire after the age of sixty? | head

At the age of 60, Giuseppe Crippa accepted compensation for its completion and founded his own company Technoprobe, which deals with large clients such as Apple and Samsung and manufactures devices for chip testing.

In his report, published by the American magazine “Forbes”, writer Giacomo Tonini talked about many things that helped Kripa become a millionaire.

The writer says that Giuseppe Cripa received a sum of money as compensation from the Franco-Italian company for the production of semiconductors in 1995, thus ending 35 years of work in the company and instead of settling into a life of retirement and luxury, he . took advantage of Cripa – who was 60 at the time – the opportunity to set up his own company came to implement an idea that had always occupied his mind.

The salt started Technoprobe in a small town outside Milan to make probe cards, miniature disks that are placed on microchips for testing.

“He was very creative and because the chip tester takes a lot of time to adjust, he headed to create a process to do it in his kitchen,” said Stefano Felici, CEO of Technoprop and Salt’s nephew. .

The writer added that 27 years after its founding, Technoprobe has become one of the largest manufacturers of chip testing equipment in the world, as it deals with many technology giants including Apple, Qualcomm and Samsung. (Samsung) and Nvidia, as well as semiconductor manufacturers EMD, Intel and Taiwan Semiconductor Manufacturing Corporation.

The writer added that Technoprop – which is currently run by Salt’s nephew – has taken advantage of his recent public offering bid that has turned 87-year-old Kripa, who stepped down as CEO in 2017, into one of rich in Italy, with a fortune Its value is nearly $ 4 billion, thanks to 75% of its shares in the company.

According to the author, Salt is a good example that age is not a barrier, as he was one of the 8 young billionaires this year, including: Marvey Wenger and William Frank, who were both 80 years old and older. And there is no sign of the company’s sales slowing down, with companies like Apple and Samsung distributing new phones and laptops every year, and vehicle manufacturers using chip testers to help produce screens and sensors for new cars. . , easier. And since you have to try all the parts, you need more of these testers. “

The writer notes that Salt was born and raised in a small town northeast of Milan in 1935 during World War II, and after attending a technical high school in Bergamo and later getting his first job at the engineering company Breda ”(Breda). made his first step into the world of chips.Electronics started in 1960 (at the age of 25), when he started working for SGS Semiconductor Corporation which formed a joint venture with Fairchild Semiconductor of California.

After moving to Silicon Valley to learn about the technology of major companies there, he returned to Italy in 1963 and helped launch the first production line from Silicon Valley to Europe, after which he repaired chip testers in the country kitchen his.

Salt always believed that there was a clear market opportunity, as all of its employer chip testers, which were relatively low-quality consumables from US suppliers, required post-use repairs.

In 1995, after reaching retirement age, Kripa decided to discontinue his service and the money he received enabled him to establish Technoprop, which grew rapidly in France in 2001 and Singapore in 2004.

Four decades after his private trip to the United States, he sent his nephew Felici to California to open the first American Technoprobe office in San Jose in 2007, where the company immediately began developing smaller, more advanced testing equipment. .

The writer noted that semiconductor companies have always been Technoprobe’s only customer, but the company gained more customers from new locations in Taiwan and the Philippines in 2010.

“We’re really starting to enter the market with the biggest customers in Asia,” says Felici. “By 2017, we could have entered America as well.”

The purchase has helped Technoprobe make the equipment smaller and more efficient, while the chips are becoming smaller and more complex. “Under Moore’s law, the chip architecture is getting smaller and smaller,” says Charles Shea, a semiconductor analyst at Needham Investment Bank. with what the testing equipment should keep pace.

Although Technoprobe has taken market share with Intel business, they often share the same customers because they both want to provide a more secure and diversified supply. “The industry is very limited and as far as we know the Kripa family, we want to continue to make sure our competitive business thrives, but what they have done for a private family business is impressive,” says CEO Mike Slessor.

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