The life of Ted Ngoy He went through countless emotional and economic states. The Cambodian was exiled from his country due to the arrival of a dictatorial regime and managed to build an estate of millions of dollars in the United States as the “King of Donuts”. But he had to start over from scratch because of his gambling addiction.
The businessman had an adolescence that could be part of a romantic movie due to the relationship he formed with his first wife, Suganthini Khoeun. Their love at first sight began as a forbidden relationship due to their class difference. Ngoy maintained that he knew this distance but that it was never his main objective. Their relationship grew through secret meetings and he was accepted just a few months away. Cambodian coup.
How Ted Ngoy became a millionaire
The billionaire continued for five years in his native country because his language skills were useful to the de facto government. His decision to emigrate to the United States came in 1975, when The North American country decided to welcome 130,000 refugees from Vietnam and Cambodia. His family sold everything they had to access the first flights to California and arrived in the country with his wife and three children.
The Ngoys were in a shelter until a pastor from the church in Tustin, a town 50 kilometers from Los Angeles, took them in and gave them I work as a janitor of your institution. The Cambodian quickly realized that the $500 he earned monthly was not enough to support his family and asked for permission to take on other part-time jobs. So He got a job as a salesman and another as a gas station attendant..
The Asian worked 17 hours a day and, on his night shift, he came as the donut shop that was in front of the service station received many customers. This made him interested in the field and he signed up to form the Winchell’s donut chain. Ngov recalled this course by stating that: “I learned how to bake, how to do payroll, cleaning, sales, everything.”
His training lasted three months and later He positioned himself as manager of one of the chain’s stores of fast food. Ngov became the star of his branch and saved as much as possible while working 12 to 17 hours a day and being helped by his 9 and 8 year old children. This effort allowed the Cambodian to have his second donut shop.
Promptly, His business plan expanded throughout the region and decided to take their jobs to help other Cambodians arriving in the country. They taught them their business model and employed them in one of their 60 stores. Meanwhile, the migrants told them how innocents were tortured and killed in their homeland and the Ngov family was horrified by their story.
The then billionaire was supported and loved by his community but a night of gambling in Las Vegas completely changed his way of being. What began as small plays for fun ended up becoming a vice, with bets of thousands of dollars on spins, bad behavior, anger and loan requests. Ngov asked those who rented his stores for money and, when he did not have the money to pay, he gave them the deeds to the building..
His escape from gambling came when returned to Cambodia with the restitution of its democracy. There he returned after losing his chain of stores and opted for politics. His campaign was a failure but he managed to obtain a position as secretary of commerce and agriculture. Even so, his measures were not successful either and his estate was bankrupt.
How he got out of absolute poverty, again
Ted Ngov was broke in 2002 and decided to return to the United States, with only $100 in capital after his flight. His life there was a nightmare because everyone close to him wanted him out of their lives after the lack of trust, respect and the bad behavior he had had in his past. The Asian lived from church to church until he managed to return to Cambodia and later moved to Thailand.
This last place was the place where he was able to rebuild his life because A Chinese contact hired him as a real estate salesman.. Commissions from his sales helped him become a millionaire again. He also got a second wife and started a new family with four more children.
Source: Ambito
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