Evergreen Group (長榮集團) founder Chang Yung-fa (張榮發) said yesterday he would bequeath all the assets listed in his name to charities, and not his children, as a way of giving back to society and having his money perform good deeds long after his death.
The 84-year-old Chang, whose assets were valued at NT$47.4 billion (US$1.6 billion) by Forbes magazine last year, said that although he was not leaving his estate to his children, he still expected them to continue doing good deeds and extending a helping hand to the less fortunate.
During a tea party with reporters, Chang defined true wealth as being able to help people and give back to society.
“Money is something that should be circulated around the world and not enjoyed exclusively by one individual,” he said. “A lot of people think that earning a lot of money constitutes wealth. For me, working hard to earn a lot of money is certainly not a bad thing, but the happiness from earning a lot of money is fleeting because of the pain you feel when you lose it.”
“But if that money is used for good deeds, it’s wonderful to see people get back on their feet because of the help you’ve given. The happiness gained from doing a good deed always remains in your heart,” the tycoon said.
Chang also said that young people should depend less on their parents. They should fight for their future themselves and learn to shoulder responsibility.
Chang set up a foundation in 1985 with a focus on philanthropic efforts. Its assets are currently valued at about NT$13 billion and it spends about NT$400 million a month on charities and the free distribution of its Morals Monthly Digest.
Chang founded the magazine, which is distributed free of charge, in January 2008 in response to what he felt was the moral decline of Taiwanese society. The foundation originally planned for a circulation of 20,000 copies a month, but the monthly now boasts a circulation of 340,000 copies to readers in 31 countries.
When told that the publication’s circulation was outpacing its budget, Chang said he was not worried.
“It didn’t matter. So long as one or two out of the tens of thousands of people who read it had their lives changed, it was well worth it,” he said.
Numerous prison inmates have written articles for the digest and 28 prisons now receive more than 1,000 copies of the magazine, the Evergreen Group chairman said.
Chang plans to visit the 47 prisons nationwide in an effort to promote the magazine, according to the foundation. He will also have his Evergreen Symphony Orchestra tour the prisons to soothe the souls of the inmates. The foundation said the symphony orchestra plans to arrange six performances at prisons this year.
Chang, a devout follower of I-Kuan Tao (一貫道), a religious movement that incorporates elements from Confucianism, Taoism and Chinese Buddhism, as well as recognizing the validity of non-Chinese religious traditions such as Christianity and Islam, has one daughter and four sons.
After several years flying high as Asia’s best Nvidia Corp proxy, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is increasingly vying with other artificial intelligence (AI) stocks for investor attention. Stock traders are chasing a wider array of beneficiaries as mainstream usage of AI creates demand for hardware beyond the most-advanced chips TSMC makes for Nvidia. Subthemes from the deepening memory crunch to advances in robotics are also luring bids. At the same time, investment caps on single stocks are pushing funds to diversify, while retail investors long familiar with TSMC through its US depositary receipts are being offered a broader set of
UNDER MICROSCOPE: Taiwan detained three people who allegedly conspired to buy servers in Taiwan and export them using fraudulent documentation, prosecutors said Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Saturday urged Super Micro Computer Inc to tighten up on compliance after Taiwan detained three people this week for allegedly making fraudulent declarations about artificial intelligence (AI) servers made by its US partner. The development marked the nation’s first crackdown on semiconductor smuggling, which grew after the US slapped restrictions on exports of high-end chips such as Nvidia AI accelerators to China. Nvidia is “rigorous” in explaining regulations to all of its partners, Huang told reporters after arriving in Taipei. “Ultimately Super Micro has to run their own company,” he said in response to
Netherlands-based semiconductor equipment supplier ASML Holding NV yesterday said that it is planning to hire an additional 1,000 people in Taiwan this year in response to growing demand from clients. ASML had previously planned to recruit 600 people this year, but that the plan has been adjusted upward, ASML vice president and ASML Taiwan general manager Grace Wang (汪佳慧) told reporters. ASML has a workforce of more than 4,500 in Taiwan, accounting for about 10 percent of its global total, Wang said. This year’s recruitment campaign would focus on adding people in the customer support, manufacturing and supply chain domains to assist ASML
TECH RELIANCE: Growth is increasingly reflecting an unequal K-shaped distribution, where technology sectors outperform and other industries struggle, an expert said Standard Chartered Bank has significantly raised its forecast for Taiwan’s economic growth to 9.5 percent this year, up from 7.6 percent previously, citing surging artificial intelligence (AI) demand driving exports, semiconductor production and investment. The upgrade reflects a sustained AI supercycle that continues to fuel demand for advanced chips and technology infrastructure, which form the backbone of Taiwan’s exports, the bank said in a report this week. “We raise our 2026 growth forecast to reflect a much stronger-than-expected first-quarter GDP figure,” Standard Chartered senior economist for greater China and Asia Tommy Wu (胡東安) said in the report. Driven largely by a 35.3 percent
RSS