Foxconn head Terry Gou regains richest man’s status in Taiwan

Terry Gou, founder of Hon Hai Precision Industry, takes the No. 1 spot for the first time since 2010, up from No. 2 previously.

Taipei, Nov. 14-Hon Hai Precision Industry Chairman Terry Gou (郭台銘), one of Taiwan’s most influential business tycoons, became Taiwan’s richest man again in 2018, according to Forbes Magazine. It’s also the first time since 2010, up from No. 2 in 2017, despite his wealth declining 23% or US$2.2 billion to $7.3 billion this year.

The magazine attributed his falling wealth to a drop in Taiwan’s stock market and a strengthening U.S. dollar amid a trade war between the United States and China this year.

The wealth of many tycoons in Taiwan fluctuated dramatically and the volatility created lots of turnover in the ranks of the 2018 Forbes Taiwan Rich List. Ten tycoons including three women debuted, four returned after dropping off in recent years and a bumper crop of six new billionaires emerged.

Brothers Wei — Wei Ing-chou (魏應州), Wei Ying-chiao (魏應交), Wei Yin-chun (魏應充), Wei Ying-heng (魏應行), of Ting Hsin International Group ranked second this year, with assets totaling US$7.2 billion, followed by Cathay Group led by chairman Tsai Hong-tu (蔡宏圖) with a wealth of US$7.1 billion at third, according to Forbes.

Daniel Tsai(蔡明忠) and Richard Tsai (蔡明興) of Fubon Group (富邦集團) were bumped off from No. 1 to No. 4, with family assets estimated at US$5.7 billion, ahead of Want Want Group Chairman Tsai Eng-meng (蔡衍明) with US$5.6 billion-worth of fortune at fifth.

Lin Shu-Hong (林書鴻), a co-founder of petrochemicals and plastics giant Chang Chun Group, who enjoyed the largest growth in wealth over the past year, jumped to sixth place with US$3.9 billion in assets.

Rounding up the top 10 places were No. 7 Barry Lim (林百里), founder and chairman of Quanta Computer with US$3.6 billion, No. 8 Jason Chang (張虔生) and Richard Chang (張洪本) of Advanced Semiconductor Engineering, Inc. with US$3.2 billion, No. 9 Pierre Chen (陳泰銘), founder and chief executive officer of Yageo Corp. with US$3.1 billion, and No. 10 Luo Jye (羅結), chairman of Cheng Shin Rubber Ind. Co., Ltd., with US$2.9 billion.

The top 10 richest in Taiwan are:

  1. Terry Gou; US$7.3 billion
  2. Wei Ing-Chou, Ying-Chiao, Yin-Chun & Yin-Heng; $7.2 billion
  3. Tsai Hong-tu & Cheng-ta; $7.1 billion
  4. Daniel & Richard Tsai; $5.7 billion
  5. Tsai Eng-Meng; $5.6 billion
  6. Lin Shu-Hong; $3.9 billion
  7. Barry Lam; $3.6 billion
  8. Jason & Richard Chang; $3.2 billion
  9. Pierre Chen; $3.1 billion
  10. Luo Jye; $2.9 billion