The combined wealth of Taiwan’s top 50 billionaires rose 12.23 percent in a year amid an artificial intelligence (AI) boom, with Barry Lam (林百里), chairman of AI server maker Quanta Computer Inc (廣達), taking the top spot for the first time, according to Forbes.
After increasing at a modest pace of 1.3 percent last year, Taiwan’s economy rose 6.5 percent in the first quarter of this year, the fastest growth in almost three years, due to an increase in exports related to solid global demand for AI applications, Forbes said.
The TAIEX has also increased by about one-third since the magazine last measured it 14 months ago, Forbes said.
Photo: Fang Wei-chieh, Taipei Times
Meanwhile, the combined net worth of the top 50 richest people in Taiwan rose to US$174 billion from US$155 billion, it said.
Lam’s net worth more than doubled to US$11.7 billion, the highest among the top 50 richest people in Taiwan, after his company’s share price surged to record highs over the past year, putting him at the top of the list for the first time.
Forbes said that Quanta’s net profit jumped by more than one-third to US$1.2 billion last year after it began providing products such as notebook computers and AI servers to clients such as Apple Inc and Google.
Quanta’s performance also helped company vice chairman and president C.C. Leung (梁次震) earn a spot on Taiwan’s top 50 richest people list for the first time.
He was ranked No. 42 with a net worth of US$1.45 billion, Forbes said.
Brothers Daniel Tsai (蔡明忠) and Richard Tsai (蔡明興) from financial conglomerate Fubon Group (富邦集團) took second place this year, down from the top spot last year.
Their net worth rose 22 percent to US$10.7 billion partly due to their investments in biotech venture capital firm Diamond Biofund Inc (鑽石生技), which went public in September last year.
Also boosted by the AI frenzy, Terry Gou (郭台銘), founder of Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, saw his net worth rise by US$3 billion to US$10.4 billion, boosting his ranking from No. 6 to No. 3.
In fourth, self-made footwear tycoon Zhang Congyuan (張聰淵), who founded shoe manufacturer Huali Industrial Group Co Ltd (華利集團) in 2004 and now runs factories in China, Vietnam and the Dominican Republic, recorded a net worth of US$10.1 billion.
Brothers Tsai Hong-tu (蔡宏圖) and Tsai Cheng-ta (蔡政達) from financial conglomerate Lin Yuan Group (霖園集團) placed fifth with a net worth of US$9.3 billion, while brothers Jason Chang (張虔生) and Richard Chang (張洪本), who run the world’s largest IC packaging and testing service company, ASE Technology Holding Co (日月光投控), ranked sixth with a net worth of US$7.8 billion.
The four Wei brothers — Wei Ing-chou (魏應州), Wei Ying-chiao (魏應交), Wei Yin-chun (魏應充) and Wei Yin-heng (魏應行) — who control food and beverage conglomerate Ting Hsin International Group (頂新集團), took seventh place with a net worth of US$7.6 billion.
The Wei brothers fell from second last year as shares in their group’s listed subsidiary Tingyi (Cayman Islands) Holding Corp (康師傅控股), one of the largest instant noodle producers in China, tumbled 25 percent due to weaker demand, Forbes said.
Electronics component maker Yageo Corp (國巨) chairman Pierre Chen (陳泰銘) was eighth with a net worth of US$6.2 billion, followed by snack and beverage brand Want Want Group (旺旺集團) chairman Tsai Eng-meng (蔡衍明) with US$6 billion, and Lin Shu-hong (林書鴻), cofounder of petrochemical conglomerate Chang Chun Group (長春集團), with US$5.4 billion.
Morris Chang (張忠謀), founder of the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co (台積電), moved up eight spots to No. 16 with a net worth of US$3.3 billion.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has approved a capital budget of US$31.28 billion for production expansion to meet long-term development needs during the artificial intelligence (AI) boom. The company’s board meeting yesterday approved the capital appropriation plan for purposes such as the installation of advanced technology capacity and fab construction, the world’s largest contract chipmaker said in a statement. At an earnings conference last month, TSMC forecast that its capital expenditure for this year would be at the higher end of the US$52 billion to US$56 billion range it forecast in January in response to robust demand for 5G, AI and
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