I have more money than I’ll ever need after selling my business for hundreds of millions. However, I have no intention of retiring at age 66.

I have more money than I’ll ever need after selling my business, This as-told-to article is based on a discussion with Amare Global’s chairman and owner, David Chung. For clarity and length, it has been altered.

I was astounded to see a banana on the kitchen table. When I moved to New York City at the age of twelve, we had fruit and even M&Ms, when in Korea, a banana was considered a huge deal. Everything was very opulent.

In 1963, my mother came to the United States with less than $100. She opened a tiny, mom-and-pop gift boutique when she moved to New York. She eventually obtained her green card after growing the company. About eight years later, in the midst of a New York winter, I joined her. Despite my lack of language skills, I felt fortunate to be in the United States.

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After observing my mother’s business, I made the decision to enter the cosmetics industry.

My mother kept growing her business, turning it into a pharmacy and drugstore. Her company was valued at tens of millions by the early 2000s.

She had a strong business spirit. Observing her journey has motivated me and continues to do so. In terms of business, I have a lot of her DNA. I’ll think, “I’m just like my mother!” now that I’m sixty-six. It’s frightening.

The foundation for my business was laid by my mother’s. As I worked in her store, I realized that beauty items offered a fantastic business possibility. Because the products are little, shipping and warehousing expenses are lower. Customers keep coming back because they are consumable. Additionally, people don’t give up on their skin despite the poor state of the economy.

At 23, I launched my first company.

I attended college, but I had trouble focusing because I was constantly considering launching my own company. Even now, I hire a driver since I am too preoccupied with managing my businesses to drive much. I eventually received my engineering degree.

There was a small movie rental shop right next to my school. Before Blockbuster, these were the times. When I was 23, I purchased that store and gradually grew it to include cosmetics and gifts.

That was the beginning of my business career. I’ve only ever worked for my mother. As a result, I had to learn difficult lessons about systems, procedures, and corporate structure on my own.

Despite having more money than I could possibly use, I still enjoy starting enterprises.

I eventually switched from retail to design, manufacturing, and research. I received $53.7 million when I sold my stock in one company in 2018. I sold my business, Farmacy Beauty, for hundreds of millions of dollars in 2021 (I’m not permitted to disclose the precise number). On December 31st, I recall witnessing the money being deposited into my account while seated at my computer. I felt nothing. I didn’t consider “I’m rich now.” I didn’t even celebrate by going out to supper.

For me, entrepreneurship has never been about making money. It’s more about the satisfaction and thrill of creating something. The first time I was in a room with people who were more qualified than me is still fresh in my mind. I had an idea that they hadn’t thought about. I didn’t aware I had a different perspective till then.

Now that I have so much money, I could never spend it all. Nevertheless, I didn’t purchase a beautiful car or a Rolex when those cash arrived in my account. I went out and bought another business to manage.

I want to accumulate fortune so that I may give back.

I recently informed a worker that I will be retiring in three years. I told her the same thing fifteen years ago, she added, laughing.

I doubt I’ll ever be completely retired. God has endowed me with the ability to be competent and business-minded. For as long as I can, I want to make use of that.

Giving back, especially to the Korean American community, was very important to my mother. I believe that the more money I earn, the more I can donate. So why not put this ability to use?

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