Vijay Eswaran is a Malaysian businessman of Indian descent. His family came from India to Malaysia over seven generations ago. His net worth is estimated to be at over half a billion dollars according to Forbes Asia. This would make him one of the richest people in the country of Malaysia.
Vijay Eswaran grew up as the oldest son in a family where his father worked as a civil servant. He recalls constantly traveling and moving from place to place in Malaysia while growing up. After he finished schooling, Vijay departed to study abroad at the university level.
He completed a degree at the prestigious London School of Economics in the United Kingdom and later pursued a masters of business degree from the University of Southern Illinois in the United States.
The early jobs of Eswaran varied greatly and taught him the value of hard work. He picked grapes and drove a cab and worked as a technical program manager. Then he obtained a position as a manager for a multiple level network marketing and direct selling company that is based in Malaysia called Cosway.
Goldquest And Qnet
After getting some experience in the direct selling industry and studying it in both Malaysia and the United States, Vijay Eswaran decided to create his own direct selling and multi-level marketing company. He named it Goldquest and incorporated it in Hong Kong. Goldquest would later become Qnet. Read more: Dato’ Sri Vijay Eswaran Speaks At World Economic Forum 2016
The company at first sold collectible gold coins that could be customized. Vijay Eswaran also added an online platform for people to place orders. This was a first for the direct selling and multi-level marketing industry.
Eventually, Vijay Eswaran changed his company’s name from Goldquest to Qnet. He realized that you can only sell a gold coin or other luxury items such as watches or jewelry for a limited amount of time before demand dried up for the item.
Thus, he launched Qnet and diversified the products his company was selling. Qnet focused on selling items such as cosmetics, foodstuffs and supplements that could be sold over and over again. He also began selling what is called energy and inspirational products. These items make up almost 30% of Qnet’s total sales now.