He doesn’t see the need to spend the money.
You may have heard that loom bands are pretty damn popular with the kids right now.
The tiny elastic bands are being used to create elaborate and colourful bracelets as well as other weird and wonderful creations.
trinetuzun/trinetuzun
The bands have become so popular they have apparently made their Malaysia-born inventor Cheong Choon Ng £80 million in just three years.
The former Nissan engineer Cheong, who now lives in the U.S., came up with the idea for the bands back in 2010 when he came home from work to find his children using rubber bands to make crude jewellery.
"When I saw them it reminded me I used to make the same stuff during my childhood," he told Thanh Tran, the founder of Kidpreneur, in May.
"In Malaysia we don’t have so much toys to play with so we play with sand, rock, marbles and rubber bands."
PHILIPPE HUGUEN/AFP / Getty
He added: "So I sat down with them and said, ‘let me show you how to do it the right way’. I found the rubber bands were falling apart and I couldn’t hold them together and I thought ‘jeez there must be an easier way’."
"I used to work at Nissan, so I was thinking, ‘what if I put nails on a board to hold the rubber bands and loop them from inside out’."
So Cheong made a board out of scrap materials and showed it to his daughters.
khwanchais/khwanchais
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