Although many countries were badly affected by the pandemic, Taiwan remained unaltered. They had set up ways to control the pandemic. As a result, the country only experienced 1100 Covid-19 patients with 11 deaths. The country has a population of 42 million citizens.
Taiwan is one of the best countries in Asia with the highest GDP. The tech exports and increased demand for machines led to a 3% increase in the country’s economy in 2021 as other countries suffered. Even the fortune of the richest people went high by a third within 15 months.
The competition was tough as Zhang Congyuan picked up the first position for the first time. He is the founder of Huali Industrial Group, a company that manufactures shoes. As of January 2020, he had attained a net worthy of $13.8 billion, a report by Forbes. Moreover, his company has collaborated with other large brands like Puma, UGG, Nike, and Vans. The Cathay Financial Holding brothers, Hong-u and Cheng-ta Tsai were in the second position, with a total net worth of $9.2 billion. Finally, the popular cousins Richard & Daniel Tsai closed the third position, with a net worth of $7.8 billion.
Semiconductors companies Benefit
One of the companies that made a huge profit was a semiconductor manufacturer owned by Tsai Ming-kai. There was a problem with electronic chips that resulted in the closure of some top companies in 2021. As a result, there was tough competition for the available semiconductors. That resulted in a high demand hence allowing MediaTek to control the market. As a result, the owner and the company’s chairman increased made a huge income of $3.3 billion and $1.5 billion, respectively.
Other gainers in the semiconductor industry were Jason and Richard Chang, who owns ASE Technology. The company tests all types of semiconductors before they are released in the market. As a result, the companies revenue increased to $7.2 billion.
Another billionaire who owns Taiwan Semiconductor Manufacturers, the main suppliers of Apple, also got a rise in revenue by 87%. As a result, Morris Chang attained a net worthy of $2.8 billion. On the other hand, the owner of Delta Electronics, Bruce Cheng, got his name on top 20 richest.
The Chang Chun group, which deals with plastic and petrochemicals, saw its fortune rise to $2.65. Another plastic and polymer billionaire, Quintin Wu, also raised his share to $840 million.
Minor negative results
Unfortunately, some billionaires experienced a negative deviation in net worth. For example, the co-founders of Largan Precision, Scott Lin and Tony Chen got a blow as the company’s share was reduced. It was a result of a fight between Huawei technologies and US giant tech companies. In addition to that, a WUS Printed Circuit company suffered as they lacked enough material to manufacture more cars.
Others who got negative results were Chen Wu Kang of cosmetics, Tsai Tien-Tsai of real estate, Lin Chang Su, and Huang Chung Sheng. Huang’s revenue reduced to $810 million as his company Yechiu Metal Recycling dropped in production.
Top 25 Taiwan’s Richest People
1. Zhang Congyuan & family
Net Worth: US$13.1 billion.
Industry: Chemicals, investments
Zhang’s mother Liu Huaqing, is one of the “first ladies” of China’s People’s Liberation In 2004, Zhang Congyuan established Huali Industrial, a shoe manufacturer, and the firm now has factories in China, Vietnam, and Dominica. Huali supplies hundreds of brands including Nike, Puma, UGG, and Vans. Zhang also co-founded Hong Kong-listed shoemaker Symphony Holdings, but sold his interest and is no longer affiliated with the firm. In addition to that, he owns part of the company with his family. Zhang leads the group of Taiwan’s richest people
2. Tsai Hong-tu & Cheng-ta Hsieh
Net worth: US$9.2 billion
Company: Taiwan Semiconductor Manufacturing
Tsai is the second person in Taiwan’s richest people. His company(TSMC) continues to rise as forecasted by UBS AG and Yuanta Securities Investment Advisory Co., Taiwan’s biggest brokerage firms, respectively. TSMC shares rose by 39 percent so far this year, beating the 11 percent gains for Apple Inc. and its assembler Hon Hai Precision Industry Co.
3. Daniel & Richard Tsai
Net worth: $7.9 billion
Fubon Financial, one of Taiwan’s biggest financial firms with a market value of over $20 billion, is led by brothers Daniel and Richard. The family also invests in Taiwan Mobile and momo.com, a television-shopping service. Father Tsai Wan-tsai, the company’s founder, died at age 86 in 2014. Daniel & Richard looms in and closes the first three Taiwan’s richest people
4. Wei Ing-chou,Yin-heng, Ying-chiao $ Yin-chun
Net worth: $7.8 billion
Tingyi, one of mainland China’s major beverage-and-noodle producers, is controlled by the Wei brothers Ing-chou. The Weis also have interests in real estate on both sides of Taiwan Strait. F&B work is done by Ing-chou. Telecom and real estate are handled by Ying-chiao while oil and dairy are overseen by Yin-chun. To add to that, restaurants and supermarkets are managed by Yin-heng.
5. Lin Shu-hong
Net worth: $7 billion
Lin Chuan served as chairman of Taiwan’s Chang Chun Group, one of Asia’s largest petrochemical firms, from the conclusion of 2013 until his retirement in 2016. He and his classmates Tseng Shin-yi and M.K. Liao founded the business with only $100 in 1949. He is the only surviving member of the group because to this name “Chang Chun.” Due to a possible misspelling or transcription mistake, it may seem like Lin led a different company for much longer than he actually did.
6. Terry Ghou & family
Net worth: $6.3 billion
Once Taiwan’s biggest black-market arms dealer, Terry Ghou is now one of Taiwan’s wealthiest people thanks for his chairmanship of Inter-Link Electronics , Taiwan’s largest electrical wire maker. A naturalized US citizen who was born in Taiwan.
7. Andre Koo, Sr.
Net Worth: $5.3 billion
Koo is the honorary chairman of Chailease Holding, which provides equipment rentals in Taiwan, mainland China, and Southeast Asia. There are over 45 firms in Chailease with over 100 offices and 6,000 employees. It operates in China and 12 other nations. Koos’ father, financier Jeffrey Koo, Sr., who died in 2012, was known as the “Father of the Credit Card” in Taiwan.
The Koo family’s businesses are not linked to Andre’s business empire. After serving as a board member at NYU Stern, he currently serves as chair of the board of overseers there.
8. Pierre Chen
Net worth: $4.9
Chen is the founder and CEO of Yageo, an electronics component maker that supplies components for mobile phones, tablet PCs, and automobiles. 16 years after starting Yageo, he took it public. He has works by Gerhard Richter, Mark Rothko, Andy Warhol, and Francis Bacon as well as several other pieces.
9. Samuel Yin
Net worth:4.7 billion
Yin is the Chairman and CEO of Ruentex Group, which has interests in financial services and real estate. He also owns a stake in Nan Shan Insurance and Sun Art Retail Group, China’s largest hypermarket chain. His family’s business was founded by his grandfather, and his wife currently runs Ruentex Industries.
10. Barry Lam
Net worth: US$4.6 billion
Company: chairman of Quanta Computer.
This Taiwan man loves to collect famous paintings and has, a 30000 art collection in his home. He also likes to spend money on Taiwan’s government. Furthermore, this man has been ranked Taiwan’s number one rich list for ten years continuously.
11. Tsai Ming-kai
Net worth: $3.5 billion
Tsai was previously Chairman and CEO of a firm that had been spun off from another firm he ran. Rick Tsai (who is not related) was brought in as co-CEO in June 2018. AT this point, the company was facing growing competition in a stagnant sector. He obtained his electrical engineering degree first in Taiwan and later at the University of California, Berkeley.
12. Rudy Ma
Net Worth: $3.3 billion
Ma Yuanta Financial was founded by Ma. In 2014, he was sentenced to seven and a half years in jail for fraud, but because of his dementia, he hasn’t been incarcerated yet. The Ma family has one of Taiwan’s best art collections, a report by bloomberg.
13. Lin Ming-hsiung
Net worth: $3.3 billion
Lin serves as the Chairman of Pxmart, one of Taiwan’s largest supermarkets. Lin also has a controlling interest in real estate developer Yuanlih Construction and Taipei-based Hwatai Bank. In 1998, he purchased Pxmart from the Taiwanese government.
14. Morris Chang Taiwan
Net worth: $3 billion
Chang is the chairman of Taiwan Semiconductor Manufacturing, which is one of the world’s largest chipmakers. His MIT degrees are in mechanical engineering and electrical engineering, and his Stanford doctorate is in electrical engineering. Texas Instruments was where he worked for a quarter-century before moving to Taiwan to help create TSMC. Apple, Nvidia, and Qualcomm are among the firms that use TSMC chips.
15. Jason & Richard Chang,
Net Worth: $3 billion.
Their father came to Taiwan with just one dollar in his pocket. He was able to raise his family into Taiwan’s richest, by working hard as a taxi driver and then buying out of bankruptcy Pacific Electric Wire & Cable Company which supplies copper cables all over Taiwan.
16. Lin Chen-hai
Net Worth: $2.9 billion
Lin Chen-hai is the 16th in our list of Taiwan’s richest people. started his career at Taiwan Cement Corporation in 1974 and held various positions there during his 37-year tenure, including general manager of Taiwan Cement Manufacturing Corp, senior vice president of Taiwan Cement Manufacturing Corp, chief executive officer of Taiwan Cement Corporation.
17. Tseng Cheng & Sing-ai
Networth: $2.65 billion
Siblings Tseng Cheng and Tseng Sing-ai inherited their father’s shares in Chang Chun Group, which include the family’s petrochemical business. Lin Shu-Hong was one of the founding partners. In 1949, Lin Shu-Hong, M.K. Liao, and Shin-yi created Chang Chun Petrochemicals and Plastics Company to produce chemicals for plastics processing. The eldest son of Tseng Cheng is a director at Chang Chun Petrochemicals and Chang Chun Plastics.
18. Chen Tei-fu
Net Worth: $2.5 billion
Mr. and Mrs. Sunrider started Sunrider in 1990, which is now a global herbal products company led by Chen Li-Lin and his wife, Oi-Lin Lin. The firm’s goods are available in over 2,000 retail outlets throughout the world. Furthermore, he owns two hotels under the Sunworld brand: one in Taipei and one in Beijing. His personal art museum can be found at Sunriver’s headquarters in Torrance, California, near Los Angeles.
19. Chao Teng-hsiung
Net worth: $2.4 billion
Farglory Land was founded by Chao in 1978 and is still his major investment. Farglory Group, which includes financial and retail services, air-cargo logistics, and tourism, is the flagship unit of the Farglory Group. Chao also has a controlling stake in Farglory FTZ Investment Holding, Farglory Life Insurance, and Farglory Hotel. In 2014, Wen-Chia (Frank) became chairman of Farglory Land amid a corruption scandal involving his father.
20. T.Y. Tsai
Net Worth: 2.4 billion
At the time of his 2004 death, Tsai Wan-lin, Tais father, had built Cathay Life Insurance into a powerhouse and was Taiwan’s wealthiest individual. In 2010, he divested his holdings in Cathay Financial Holding (the successor to Cathay Life), which were valued at $6 billion. He now invests in real estate through Homax Equity. He has a variety of automobiles and artworks, including at least one Monet. Daniel and Richard cousins are both billionaires, as is Hong-tu and Cheng-ta brothers. T.Y.Tsai is the 20th person on our list of Taiwan’s richest people.
21. Douglas Hsu
Net worthy: 2.3 billion
The Hsu family founded the Far Eastern Group, a multinational conglomerate that started in China by Mr. Hsu’s father in 1940 as an underwear manufacturer. After the civil war, the company relocated to Taiwan in 1949. Far EasTone Telecommunications, U-Ming Marine Transport, and Everest Textile are among Far EastTone’s businesses; Asia Cement is one of its subsidiaries. He is a trustee emeritus of the University of Notre Dame where he earned two degrees while there.
22. Wang Chou-hsiong
Net Worth: 2.3 billion
In 1971, Wang established athletic-goods maker Feng Tay Enterprise. In 1987, the company partnered with Nike to produce sports shoes. Other clients include Cole Haan, Dr. Martens, and Converse. Over the years, it has expanded into soccer balls, inline skates, and ice hockey equipment. Richard Wang succeeded his father as chairman in 2018. Kevin Wang became vice chairman in 2017 after serving as a consultant for several years.
23. Chin Jong Hwa
Net worth: $2.1 billion
Chin Jong Hwa is the founder, CEO, and controlling owner of Hong Kong-based and China-based auto-part supplier Minth, which he began in 1997. His daughter, Chin Chien Ya, works as an executive director at Minth. In 2016, Minth Group became the first auto-parts company to obtain a license from China to produce electric vehicles.
24. Bruce Cheng
Net Worth: $2.1 billion
In 1971, Cheng established Taiwan Delta as a television-parts manufacturer. It later diversified into switches and power suppliers for companies such as Dell. In 2012, he stepped down as Delta’s CEO, at the same time his son Ping took over. The largest customer for Delta is Apple.