Oscar Tang, an 84-year-old Chinese-American entrepreneur, has become a billionaire by capitalizing on an often-overlooked industry: camping. As the owner of Kampgrounds of America Inc. (KOA), Tang’s business has surged in value, fueled by a renewed interest in outdoor recreation during the Covid-19 pandemic. With a net worth of $1.6 billion, according to the Bloomberg Billionaires Index, Tang’s strategic investments and vision have not only shaped the future of camping but also placed him among the world’s wealthiest individuals for the first time.
Early Life and Background
Born in Shanghai, China, in 1938, Oscar Tang emigrated to the United States as a young boy. His family sought refuge during a time of political unrest, and Tang’s early years were marked by adaptation and resilience. He went on to pursue higher education at prestigious institutions, eventually graduating from Yale University and earning an MBA from Harvard Business School. Tang’s background in finance and business laid the foundation for his future ventures, and his ability to identify undervalued opportunities became a hallmark of his career.
Acquisition of Kampgrounds of America (KOA)
In 1980, Tang purchased Kampgrounds of America Inc., a Montana-based company that provided a network of campgrounds across the United States. At the time, Tang was a Wall Street financier, and the acquisition was a calculated move to diversify his portfolio. Over the years, KOA evolved into the largest system of private campgrounds in the U.S., with Tang’s leadership playing a pivotal role in its growth.
KOA’s business model revolves around a mix of franchised and company-owned properties, offering a range of camping experiences—from traditional tent sites to RV accommodations and luxury cabins. Tang has expanded KOA’s footprint significantly, acquiring over 40 campgrounds and 1,200 acres of additional land for development. Despite receiving lucrative offers to sell the company, Tang remains focused on long-term growth and sustainability.
Pandemic-Driven Growth and Market Trends
The Covid-19 pandemic marked a turning point for KOA. With lockdowns and travel restrictions in place, Americans turned to outdoor activities as a safer alternative for recreation. Camping emerged as a popular choice, and KOA’s revenue surged by 46% in 2021. Tang’s company capitalized on this boom by investing in premium properties and enhancing customer experiences, ensuring that the influx of new campers became a sustained trend rather than a short-lived spike.
“People need outlets,” Tang said in a recent interview. “Even when the price of gas is high, they recreate. They recreate closer to home.” This insight underscores Tang’s understanding of consumer behavior, as KOA continues to benefit from travelers seeking affordable and local vacation options amid inflation.
In addition to financial growth, KOA has embraced demographic changes in its customer base. The majority of new campers in recent years identified as non-white, signaling a diversification of the market. According to KOA CEO Toby O’Rourke, this shift represents a broader cultural movement, with younger and more diverse audiences embracing camping as a mainstream activity. “This isn’t a blip,” O’Rourke stated. “There’s a big movement toward younger, diverse audiences. It’s a hot market out there.”
Business Philosophy and Management
Despite his success, Tang remains hands-off in the day-to-day operations of KOA, leaving management to its seasoned executives. However, he retains the final say on major decisions, such as property acquisitions and significant investments. This balance allows Tang to focus on strategic growth while empowering KOA’s management team to innovate and adapt.
Tang’s business philosophy is rooted in patience and long-term vision. Unlike many entrepreneurs who aim to cash out at the peak of their company’s valuation, Tang has no immediate plans to monetize KOA. “I want to see this company become all that it can be under the fifth generation of management,” he said, reflecting his commitment to legacy-building rather than short-term gains.
Net Worth and Legacy
As of 2025, Oscar Tang’s net worth is estimated at $1.6 billion, marking his debut on the Bloomberg Billionaires Index. This wealth is largely attributed to KOA’s success, with the company’s consistent double-digit revenue growth in recent years. Tang’s fortune also includes investments and assets acquired during his Wall Street career, showcasing his financial acumen.
Tang’s influence extends beyond business. He is a prominent philanthropist, known for his contributions to education, arts, and cultural preservation. His donations to institutions like the Metropolitan Museum of Art and Phillips Academy in Andover, Massachusetts, underscore his dedication to fostering creativity and learning.
Challenges and Opportunities Ahead
Despite its pandemic-driven boom, KOA faces challenges such as rising inflation and fluctuating consumer behavior. However, Tang’s strategy of investing in premium properties and diversifying the customer base positions the company for sustained growth. With 19 campgrounds and five tracts of land added since 2021, KOA is well-equipped to meet increasing demand while expanding its market share.
Tang’s approach also includes leveraging data and technology to enhance customer experiences. From online booking platforms to upgraded facilities, KOA continues to innovate, ensuring that it remains competitive in a rapidly evolving industry.
Final Thoughts: A Visionary Entrepreneur
Oscar Tang’s story is one of resilience, foresight, and dedication. From his early days as an immigrant to his rise as a billionaire, Tang has consistently demonstrated an ability to adapt and thrive in changing environments. At 84 years old, he continues to shape the future of camping, ensuring that KOA remains a leader in the outdoor recreation industry.
Tang’s legacy goes beyond financial success. His commitment to fostering inclusivity in camping, supporting cultural institutions, and focusing on long-term growth highlights his impact as a visionary entrepreneur. As KOA expands its reach and influence, Tang’s contributions to the industry—and to society at large—will undoubtedly endure for generations to come.