Terry Gou (
Gou, 54, was ranked 176th richest on the Forbes list for last year, with assets of US$2.8 billion, while Lin Yuan Group founder Tsai, who died in September of respiratory failure at the age of 79, was ranked No. 94 last year with assets of US$4.6 billion.
Gou built his fortune after starting the company in 1974 with an investment of NT$300,000 to make plastic knobs for television sets. Now Hon Hai Precision mainly produces electrical connectors and assembles personal computers for Dell and Hewlett-Packard, and is tapping into mobile phone and flat-screen liquid-crystal-display manufacturing.
Several Taiwanese billionaires are on this year's list. They are: Formosa Group chairman Wang Yung-ching (
Evergreen Group founder Chang Yung-fa (
Asia-wide, Lakshmi Mittal, chief executive of Mittal Steel Co, overtook Li Ka-shing (
Mittal, 54, had the biggest increase in personal wealth in the annual survey by Forbes, jumping to the No. 3 spot behind Microsoft Corp Chairman Bill Gates and Berkshire Hathaway Inc Chairman Warren Buffett as his fortune increased by US$18.8 billion to US$25 billion. Hong Kong's Li, 76, was 22nd with US$13 billion.
Indian-born Mittal has bought steel mills from Poland to South Africa since 2003, benefiting from soaring demand from shipyards and building sites in China. Li, chairman of Hutchison Whampoa Ltd, has concentrated on expanding his mobile-phone businesses.
"It shows the rise of commodities and the fall of tech," said Manu Bhaskaran, head of economic research at Centennial Group.
MAKING A MOVE: Starting on Monday, short-term business travelers can apply for shorter quarantine periods, while transits of up to eight hours would be allowed The Central Epidemic Command Center (CECC) yesterday announced an easing of restrictions that would from Monday next week allow foreigners to visit or make a transit flight in Taiwan. A policy allowing short-term business travelers from countries with low or medium risks of COVID-19 infections to apply for shorter quarantine periods is also to resume that day. Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, said that while the autumn-winter COVID-19 prevention program is to be extended after the end of this month, special conditions for foreign nationals to enter Taiwan would be restored from Monday. Foreign nationals
SPY GAMES: For more than 20 years, intelligence officers traveled to China, where they identified other MIB personnel and allegedly traded secrets for money and gifts The Taipei District Prosecutors’ Office yesterday indicted four retired Military Intelligence Bureau (MIB) officials, who are accused of providing China with a list of bureau personnel and other classified materials while attempting to recruit colleagues into a spy network in Taiwan. Prosecutors charged Chang Chao-jan (張超然), Chou Tien-tzu (周天慈) and Wang Ta-wang (王大旺), former colonels at the bureau, and Yueh Chih-chung (岳志忠) — a former major general and chief of the MIB’s Fifth Bureau, where he was in charge of sending agents to China on covert assignments — with breaches of the National Security Act (國家安全法) and the National Intelligence Services
CONTINUED VIGILANCE: People would still be required to wear masks at eight types of public spaces and border controls would continue, Chen Shih-chung told reporters The government’s autumn-winter COVID-19 prevention program is to continue beyond Sunday, but eating and drinking on high-speed trains would be allowed from Monday, the Central Epidemic Command Center (CECC) announced yesterday. Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, said that while there were no new confirmed cases in Taiwan yesterday, the global COVID-19 situation remains serious, so the autumn-winter COVID-19 prevention program would be extended beyond its Sunday deadline. “Border control measures, including requiring a negative polymerase chain reaction test result obtained within three days of boarding a plane to Taiwan, and undergoing quarantine in a
MORE RISK? Three Taiwanese family members were found to have the Brazilian variant, which CDC Deputy Director-General Philip Lo said might be more infectious From Wednesday, all travelers who have been in Brazil in the past 14 days are required to be quarantined at a centralized facility after arriving in Taiwan and undergo a COVID-19 test upon ending quarantine, the Central Epidemic Command Center (CECC) announced yesterday. Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, said that starting from 12am on Wednesday, all travelers arriving from Brazil, including those who have transited through the country in the past 14 days, would have to stay at a centralized quarantine facility. “They will be tested for COVID-19 upon completing the 14-day quarantine, and they
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