The list was compiled using shareholding and financial information from the individuals, stock exchanges and analysts. Net worths are based on stock prices and exchange rates as of the close of markets on October. Private companies were valued based on the price-to-book ratios of similar companies that are publicly traded. This ranking, unlike Forbes’ list of the world’s billionaires, includes numerous family fortunes shared by individuals with their children and grandchildren, or with their sibling. Here are the Top Richest Billionaires in Taiwan.
10. Luo Jye: Net worth $3.8 billion
From early success in Taiwan as a supplier of bicycle tires, Luo-led tiremaker Cheng Shin Rubber has ridden China’s auto industry boom into the ranks of the world’s billionaires. Cheng Shin supplies the China market from a large manufacturing base in Fujian Province, across the Taiwan Strait. Shares have risen 49% in the past year. Customers include GM, Ford. It plans to expand in Taiwan and China
9. Richard & Jason Chang; Net worth $4 billion
Jason is chairman and Richard vice chairman of ASE, the world’s largest independent semiconductor packaging company. Born in Shanghai, the brothers came to Taiwan after the 1949 revolution on the mainland. The family made its early fortune in real estate before diversifying into tech. Jason and Richard control Taiwan-listed real estate developer Sino Horizon Holdings, whose main properties are on the mainland.
8. Barry Lam; Net worth 4.2 billion
Taiwan electronics industry pioneer is holding his own wealth-wise at a time when the popularity of smartphones is creating upheaval in the market for his main product, notebook computers. Shares in Lam’s Quanta Computer, one of the world’s biggest notebook makers, are flat for the year. Quanta is a patron of the arts.
7. Wei Brothers; Net worth $ 5.3 billion
This fortune includes stakes held by 4 brothers—Wei Ing-Chou, Wei Ying-Chiao, Wei Yin-Chun and Wei Yin-Heng—who have turned Tingyi into one of the world’s most successful food and beverage companies.
6. Wang Family; Net worth $5.4 billion
Heirs of legendary entrepreneur Y.C. Wang (d.2008) and his brother Wang Yung-tsai (d. 2014) control the Formosa Plastics Group. Formosa is one of the world’s biggest producers of plastics and petrochemicals.
5. Lin Yu-lin; Net worth $5.6 billion
Lin’s fortune has benefited from the recovery of Taiwan’s real estate market. Owns key commercial property, including Hung Tai Center, and investments in companies such as Hung Sheng Construction, Cooperative Construction and Hung Tai Asset Management, as well as part of En Tie Commercial Bank.
4. Tsai Eng-Meng; Net worth $6 billion
Built a fortune in the snack business on the mainland, using experience gained with the same products back home in Taiwan. Tsai’s Want Want China is also turning itself into a beverage company. Some $1.1 billion, nearly half of the company’s 2010 sales, came from beverages, mostly Hot-Kid milk. Tsai is also in the media, hotel and insurance industries.
3. Tsai Hong-tu; Net worth $ 7.2 billion
Two of 3 Tsai brothers who inherited large stakes in Taiwan’s Cathay Financial Holding when their father, Tsai Wan-Lin, died in 2004. With brother Cheng-Da, Hong-Tu bought most of younger sibling T.Y.’s shares at the end of last year, say industry sources. Cheng-Da remains chairman. Cathay says it can’t comment on any transfer of shares among the 3 brothers.
2. Terry Gou; Net worth $9.5 billion
Taiwan’s richest man in 2010, Gou runs electronics contract manufacturer Hon Hai; customers include Apple and HP. A spate of suicides at mainland facilities has ebbed, but subsequent wage increases and rising costs have eroded profits. Gou founded the company in 1974 with $7,500. Reportedly looking to make large investments in Brazil.
1. Daniel and Richard Tsai; Net worth $10 billion
Tsai and sons Daniel and Richard have turned Fubon Financial into one of Taiwan’s most successful financial institutions, expanding from a core in nonlife insurance to a brokerage-to-bank business. The company is looking to expand in Taiwan through acquisitions and is eyeing China growth through a stake in Xiamen International Bank. Major investor in Taipei Mobile and cable stations. Nephews T.Y. Tsai, Tsai Hong-Tu and Tsai Cheng-Da are also on this year’s list.