Fubon’s Tsai broth­ers top latest Forbes list of Tai­wan’s rich­est peo­ple

The China Post - - LOCAL -

The Tsai broth­ers of Fubon Fi­nan­cial Hold­ing Co. (

) are on top of the list of Tai­wan’s rich­est peo­ple for the first time, ac­cord­ing to Forbes Asia mag­a­zine.

Fol­low­ing a sig­nif­i­cant rise of Fubon Fi­nan­cial shares, Daniel Tsai ( ) and Richard Tsai ( ) have com­bined wealth of US$ 10 bil­lion, ac­cord­ing to the mag­a­zine’s an­nual rank­ings pub­lished Wed­nes­day.

The broth­ers en­tered the Forbes list in their own right for the first time, re­plac­ing their fa­ther Tsai Wan- tsai (

) , who died last year. They un­seated Tsai Eng­meng ( , no re­la­tion), head of the food con­glom­er­ate Want Want Group ( ), who had been at the top of the list for the past three years but fell to sec­ond place this year.

Tsai Eng- meng’s wealth de­clined from US$9.6 bil­lion in 2014 to US$8.3 bil­lion this year due to higher op­er­at­ing costs in the dairy prod­uct sec­tor and weaker con­sumer spend­ing, the mag­a­zine re­ported.

The four Wei both­ers, own­ers of another food gi­ant Ting Hsin In­ter­na­tional Group (

) , also fell one spot in the list­ings to third place with com­bined wealth of US$ 7.5 bil­lion, a drop of US$1.1 bil­lion from last year. Tingyi, a sub­sidiary of Ting Hsin, recorded a de­cline in net sales this year for the first time since 1998, due to slower de­mand in China, the mag­a­zine said.

Fourth on the Forbes Asia list of Tai­wan’s rich­est ty­coons was Terry Guo ( ), chair­man of Hon Hai Pre­ci­sion In­dus­try Co. ( ) , whose wealth grew by US$ 650 mil­lion this year to US$ 6.7 bil­lion.

Hon Hai, which as­sem­bles iPhones and iPads for Ap­ple Inc., was boosted by strong sales of the iPhone 6, the mag­a­zine said.

The Tsai broth­ers of Cathay Fi­nan­cial Hold­ing Co. (

) were listed in fifth place in the Forbes rank­ings, with to­tal as­sets of US$ 5.9 bil­lion. They are cousins of Daniel and Richard Tsai.

Round­ing out the top 10 were prop­erty devel­oper Hong Tai Group’s ( ) Lin Yu- lin ( ) with as­sets of US$ 5.6 bil­lion, Sa­muel Yin (

) of con­glom­er­ate Ruentex Group ( ) with US$ 4.3 bil­lion, the Chang broth­ers of semi­con­duc­tor firm ASE Group ( ) with US$ 4.2 bil­lion, Union Bank’s ( ) Lin Rong- san ( ) with US$ 4.1 bil­lion, and Barry Lim ( ) of com­puter maker Quanta Com­puter Inc. ( ) with US$ 3.9 bil­lion.

The net worth of the 50 rich­est peo­ple i n Tai­wan stands at US$ 117.1 bil­lion, a drop of US$ 300 mil­lion from last year due to slow­ing de­mand from China, which has af­fected Tai­wan’s ex­ports, the mag­a­zine re­ported.

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