In December 1978, David Tran, then 33 years old, left his home in Vietnam with 100 ounces of gold. Worth $20,000 at the time, or about $90,000 in today's terms, the precious metal was stashed in cans of condensed milk to evade the attention of Vietnam's Communist authorities. Tran traveled by freighter to Hong Kong, where he spent eight months at a refugee camp, then moved to Boston for six months before settling in Los Angeles in January 1980.
Once in Southern California, he sold a chunk of the gold and bought a 2,500-square-foot building in L.A's Chinatown. He set up his business, Huy Fong-named after the freighter he took-to make a hot sauce he called Sriracha, after a recipe originally from Thailand. Huy Fong grossed just $2,300 in its first two months.
More than four decades later, Sriracha has been on Survivor, on the International Space Station and on dining tables worldwide. Its distinctive bottles, with their rooster logo and green squeeze cap, are in nearly one in ten U.S.&nbsp;kitchens, according to market research firm NPD Group. It ranks third in the $1.5 billion American hot sauce market behind Tabasco, which has been owned by the McIlhenny family since 1868, and Frank's RedHot, part of publicly traded McCormick.
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Sriracha has become a behemoth without spending a dime on advertising and without raising its wholesale price since the early 1980s, although a climate-related shortage of chilis last spring forced Huy Fong to temporarily halt production, causing retail sales to spike as devotees and restaurants stocked up.
Today the company is worth $1 billion, based on estimated sales of $131 million in 2020, according to research firm IBISWorld. That makes Tran, 77, who owns the entire company, the nation's only hot sauce billionaire. He plans to pass the business on to his two childrenWilliam, 47, and Yassie, 41-both of whom currently work there. He remains unfazed by his success. "I want to continue to make a good quality product, like making the hot sauce spicier... and not think about making more profits," he tells Forbes. "I could use less expensive ingredients or promote my products to make more money. But no-my goal is always to try to make a rich man's hot sauce at a poor man's price."

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