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.
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
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