Wang Yung-tsai

Wang Yung-tsai (Chinese: 王永在; pinyin: Wáng Yǒngzài; 24 January 1921 – 27 November 2014) was the younger brother of Wang Yung-ching, founder of Formosa Plastics Group.[1] He was born in Chyokutan, Shinden Town, Bunsan District, Taihoku Prefecture, Japanese Taiwan (modern-day Xindian District, Taipei).[2]

Wang began his business career by founding a lumber company in 1948, which he closed ten years later to help run Formosa Plastics.[2]

In 1993, Wang was named director of Formosa Plastics' naphtha cracker, the sixth processing plant of its kind in Taiwan.[1] In 2002, Wang Yung-ching went into retirement, leaving Wang Yung-tsai in control of Formosa Plastics.[3] Both officially retired as chairmen in 2006, handing the conglomerate over to their children.[4]

In 2010, Wang Yung-tsai was named #10 wealthiest person in Taiwan by Forbes.[5] By 2014, Wang had dropped two spots to #12.[6]

Personal

Wang Yung-tsai had eight children by two wives.[7] He was a fan of golf and would often wake up at 5 A.M to play.[8] He died on 27 November 2014.[3]

References

  1. 1 2 Pan, Chi-i; Wu, Ching-chun; Lin, Meng-ju; Huang, Frances (28 November 2014). "Formosa Group co-founder dies aged 93 (update)". Central News Agency. Retrieved 28 November 2014.
  2. 1 2 Sun, Yu-Huay (26 November 2014). "Formosa Plastics Group Co-Founder Wang Yung-Tsai Dies at 92". Bloomberg. Retrieved 27 November 2014.
  3. 1 2 "Formosa Group chairman Wang Yung-tsai dies, aged 93". Central News Agency. 27 November 2014. Retrieved 27 November 2014.
  4. ↑ Hille, Kathrin (6 June 2006). "Formosa Plastics chief hands over the reins". Financial Times. Retrieved 27 November 2014.
  5. ↑ "#10 Wang Yung-tsai". Forbes. 31 March 2010. Retrieved 27 November 2014.
  6. ↑ "#12 Wang Yung-Tsai & family". Forbes. June 2014. Retrieved 27 November 2014.
  7. ↑ "王文洋：三房不在家譜內" (in Chinese). Central News Agency. 15 July 2012. Retrieved 27 November 2014.
  8. ↑ Wu, Sara; Chang, Eric (30 January 2008). "Your Future Begins at Dawn". CommonWealth Magazine. Retrieved 27 November 2014.
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