Dieu Luong Tung - A poor boy who drags around to earn money to become the richest billionaire in China

Billionaire Yao Liangsong - founder of Oppein Home Furnishing - China's extremely famous kitchen furniture brand. Few people know that, before becoming one of the richest people in China, Dieu Luong Tung had a poor past, his career journey was also full of difficulties and hardships.

The billionaire was born in poverty

Dieu Luong Tung was born in 1964 into a poor peasant family in Mai Chau, Guangdong province. He is the oldest child, and has 2 younger brothers and 1 younger sister. Dieu Luong Tung is the only one in his family who can go to school, his academic achievements from a young age are also very good. At the age of 17, he entered Beijing Aerospace University with the second highest score in the district.

Dieu Luong Tung at that time spoke very poorly in Mandarin, moved from the poor countryside to the capital, and met other excellent people from all over the country, so he felt extremely self-conscious.

In 1986, Yao Liangsong graduated from university and was sent to work as a technical teacher at the Changhe Aircraft Factory in Jiangxi Province. After a while, Dieu Luong Tung sadly realized that the salary of 60 yuan/month was not enough to support his family. The dream is beautiful, but the reality is very cruel. Facing economic pressure from his family, he was forced to find another way out.

From two empty hands "build" a huge debt

After a thorough investigation, Dieu Luong Tung decided to open a restaurant with his classmates in his spare time. The two collaborated, raised 2,000 yuan and rented a space less than 20 square meters. In addition to attending classes a few times a week, Dieu Luong Tung puts all his heart into restaurant management.

Despite the relentless efforts of Dieu Luong Tung, the restaurant only existed for a few months. He shouldered a debt of more than 1,000 yuan (about 3.6 million VND at today's exchange rate). However, with the salary at that time, if he did not spend a dime, it would take a year for Dieu Luong Tung to pay off his debt.

Bitter because of the failure, the young man borrowed more than 10,000 yuan from an acquaintance to sign a contract to open another restaurant at Thuy Van hotel - one of the four major hotels in the region, with the aim of removing the gauze. In order to fully focus on work, Dieu Luong Tung applied to the school for a leave of absence but was not accepted. After many struggles, he was allowed to leave, on the condition that he pay 180 yuan "management fee" to the school every month.

After only a few months, Dieu Luong Tung could not afford this huge fee. In the end, he was mercilessly expelled from the school. With no way back, the restaurant became the last fulcrum of Dieu Luong Tung. He works day and night, doing everything himself to save costs, from shopping to washing vegetables, cutting meat...

The new business prospered a little, then Dieu Luong Tung fell into the vortex of the times. In 1988, the economy was severely inflationary. To save the situation, the Chinese government restricts public spending on eating and drinking, while his main customers are civil servants.

This decision is no different from the death sentence for Dieu Luong Tung's restaurant. After many months of hard work, he was once again saddled with a debt of 10,000 yuan. Due to frequent threats from creditors, Dieu Luong Tung had no choice but to flee, waiting for time to recover.

At the age of 25, Yao Liangsong took his disappointment on a train leaving Jiangxi for Sichuan. However, his friends here could not give him a safe place. Hearing that an old classmate opened a plastic factory, the young man went to Fujian again. When Dieu Luong Tung arrived, it was also the time when the Lunar New Year was approaching. He had no face to go home, so he lived alone in the dormitory of his former classmates. At New Year's Eve, he stepped out on the balcony, bowed to his hometown to thank his parents for upbringing, and then bowed to Jiangxi to express his apology to the creditors. This is the darkest moment in Dieu Luong Tung's life, from a decent university student to an unemployed vagabond. At that time, he swore that he must have great achievements.

When he arrived at his friend's plastic factory, Dieu Luong Tung was shocked to learn that this was just a small family-scale processing factory. That friend could only give him 50 yuan for his monthly living expenses. To earn extra income, he must be able to sell goods to earn commissions. Living expenses are never even paid on time.

Dieu Luong Tung is determined to find another way out. He ran to Shanghai to ask for help from a high school friend, but still couldn't find a job. Fortunately, Dieu Luong Tung finally contacted a sworn brother. After hearing everything, this senior gave him 20 yuan for temporary living, and also introduced him to work as a salesman for a medical equipment company. Thinking that life would be peaceful from now on, the other man had a conflict with the company. Dieu Luong Tung was also implicated and returned to unemployment.

After that, Dieu Luong Tung was fortunate to be hired by a boss specializing in the production of medical equipment and became an office manager in Guangzhou. Although the position is only nominal, he still especially appreciates the opportunity to do this. At the age of 26, he no longer had to wander around, suffering from unemployment.

Every day, Dieu Luong Tung will carry two boxes of physiotherapy equipment, cycle around the streets to find customers, regardless of rain or wind. After 1 year, he earned more than 100,000 yuan. The first thing he did after receiving his salary was to pay back all his previous debts, including interest.

A step up in the clouds thanks to my sister's idle words

In 1992, Dieu Luong Tung started his own business. He founded Guangzhou Kexin New Technology Development Co., Ltd., which specializes in medical devices. In just 2 years, this man has made a huge profit of 2-3 million yuan (about 10 billion VND).

In 1994, Dieu Luong Tung decided to settle down with his family in Guangzhou. The model house he visited was equipped with a modern European kitchen cabinet system, completely different from the messy kitchen commonly seen in China at that time.

Seeing that, his sister immediately exclaimed: "These kitchen cabinets are so beautiful! I wish I had one in the house". The speaker is indifferent, but the listener is intentional. Dieu Luong Tung suddenly thought: "This type of cabinet has just been introduced to China. Even a working girl wants it. There will certainly be many people who like it. Everyone wants their life to be comfortable and comfortable. than".

Discovering a business opportunity, Dieu Luong Tung was very excited to start implementing it. He realized that he needed at least 2 million yuan to trade this item. Dieu Luong Tung of this time is no longer a reckless young man but has become a cautious businessman.

Dieu Luong Tung "stoned the way", invested more than 200,000 yuan to buy a machine. He hired dozens of carpenters, and after 3 months of meticulous craftsmanship, created 3 sets of cabinets that were modeled after European designs.

In just 5 days of the first exhibition, Yao Liangsong received more than 60 orders, with a total value of up to 500,000 yuan. Knowing this was a profitable field, he boldly invested an additional 2 million yuan to industrialize production, completely switching to furniture.

Overcoming victory, Yao Liangsong founded Oppein Home Furnishing furniture company, creating a great kitchen revolution in China. Oppein became the market leader in the furniture market, and at the same time he was also dubbed the "King of Kitchen Cabinets".

In 2017, Oppein Home Furnishing officially listed on the Shanghai Stock Exchange, issued 50 million shares and raised 2.3 billion yuan. In 2020, Oppein Home Furnishing's revenue reached 15.5 billion yuan, while the market value was at 88 billion yuan. Currently, Dieu Luong Tung owns a fortune of $ 9.7 billion, ranked 241 on Forbes' list of world billionaires. He is also in the top 100 richest people in China.

When he first arrived in Beijing, Yao Liangsong was just a poor farmer, languishing in the university environment for five years. After graduating, he took many risks to start a business because he wanted to support his children to go to school. In return, a carefree word from his sister unwittingly helped this billionaire find a lifelong career. "Rice must be eaten one by one." This is the entrepreneurial spirit that Dieu Luong Tung has always kept in mind.

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