There are no limits to the age at which you can become a billionaire – Startitup

Giuseppe Crippa is a man who became a billionaire at the age of 87 thanks to a company he created after retirement. He comes from the Italian city of Merato, where he founded the company Technotrobe. It is a company engaged in the worldwide production of test cards for chips. We already know the story of the revolutionary technology companies that were created in the garage. Giuseppe came up with his idea of ​​improving microchip control cards in the kitchen. As he told News.italy-24, he found out that he had become a billionaire when he read Forbes. Not only is money not important to him, but he sees it as a tool that should be used for investment, research and assistance to people who are among the less fortunate. He can become a billionaire at any time, even in retirement age. His company is one of the leading in the field of semiconductors, microelectronics and is a giant in the production of probe cards. It boasts 11 branches worldwide and 3 development centers. The company currently has around 2,300 employees, of whom only 1,000 have been hired in the last two years. The proof of their growth and success is not only the increase in employees, but also the fact that they managed to get on the stock exchange in February. According to News.italy-24, the company had a turnover of an incredible 446 million in 2021. A man who has always had a great imagination and loved technology, he thus became one of the eight Italian billionaires. At the time Crippa was still working for STM, test cards were relatively poor quality consumer goods and required frequent repairs. When you needed to repair a test card in the past, you had to send it to America, which was often a two-week process. That’s why he figured out how to fix the cards in his kitchen, “said Stefano Felici, CEO of Technoprobe and his nephew, in an interview with Forbes. Technoprobe, a company that produces huge profits, has overtaken its competitor. The company has been operating for 27 years and we are currently talking about it as one of the two largest producers of sounding cards in the world. It is a supplier to technical giants such as Apple, Samsung, but also AMD and Intel. source: Technoprobe / AP technoprobeLast year, the company finally managed to overtake its competitor, FormFactor, based in California. According to Forbes, the company reported net income of $ 136 million last year with sales of $ 446 million, surpassing sales of $ 436 million in FormFactor’s comparable sounding card division. The company is currently run by Cripp’s nephew and son, who serve as CEO. Technoprobe took a very good step when it took advantage of its growth and entered the Euronext Growth Milan stock exchange in February this year. Thanks to this, Crippa, who resigned from the company’s management in 2017, became one of the richest people in Italy. His family’s fortune is nearly $ 4 billion. Crippa thus showed the world that even age is not an obstacle and one can become a billionaire at any age. He likes to recall his beginnings when he and his 19-year-old son bought the first microscopes and cutting tools and occupied all the available space in the house so that they could start the company. Only through constant innovation will you overtake your competitors. The company grew relatively quickly and already in 2001 it expanded to France and in 2004 to Singapore. His family managed to open the first US subsidiary in 2007. source: Technoprobe / AP technoprobe test card components. The company was thus able to start producing even smaller and more efficient products, which set it apart from the competition. Although the demand for the company’s products is more than sufficient for the company’s progress, they are aware of how the technological world is constantly changing. The geometry of the chips shrinks every year and the requirements of companies are more demanding. As Forbes’ nephew Felici put it: “Cars now have computers and graphics cards and these chips have to be tested. That means more work for us. ”Thank you for reading Startitup. If you have a perception or found an error in the article, write to us at [email protected]. Sources: Forbesmiddleeast, Forbes, Technoprobe, News.italy-24