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Forbes
4 days ago
- Business
- Forbes
Wealth Of Taiwan's 50 Richest On Forbes List Rises 13% To $197 Billion
Daniel and Richard Tsai reclaim top spot SINGAPORE (June 5, 2025) – The combined wealth of tycoons on the 2025 Forbes list of Taiwan's 50 Richest rose to US$197 billion from $174 billion last year, as robust demand for chips and the rising New Taiwan dollar helped drive wealth to a new peak. The complete list can be found here, and in the June issue of Forbes Asia. Taiwan's thriving semiconductor industry continues to boost its economy, which grew at an annual rate of 4.6% in 2024, the highest in three years. Despite the jolt from U.S. President Donald Trump's tariff threats, which left the benchmark Taiex index up only slightly since fortunes were last measured, the rising New Taiwan dollar powered a 13% increase in the combined wealth of Taiwan's 50 richest. A total of 36 listees are more well-off on this year's list, resulting in a shuffle in the top ranks. Siblings Daniel and Richard Tsai were the biggest dollar gainers with a $3.2 billion boost, which took their wealth to $13.9 billion and earned them the No. 1 spot after a year's gap. Shares of their Fubon Financial Holding jumped 16% from last year, partly due to its expanding banking operations. Quanta Computer chairman Barry Lam, who was last year's richest, slipped to second place despite an 8% uptick in his net worth to $12.6 billion. In February, the maker of laptops and AI servers teamed up with American quantum processing firm Rigetti Computing to develop superconducting quantum computing technology. Brothers Tsai Hong-tu and Cheng-ta of Cathay Financial Holdings, cousins of Daniel and Richard, climbed two places to No. 3, with $10.9 billion. In November, a wind power unit of their group's insurance arm agreed to invest $1.65 billion for a 50% stake in an offshore wind farm in Taiwan, to be constructed and run by Danish energy company Ørsted. Terry Gou of Hon Hai Precision Industry takes the fourth spot on the list with $10.5 billion, up slightly from $10.4 billion last year. Rounding out the top five are siblings Wei Ing-Chou, Ying-Chiao, Yin-Chun & Yin-Heng of Ting Hsin International Group, whose net worth rose to $9 billion from $7.6 billion previously. Siblings Jeffrey Koo Jr. (No. 13) and Angelo Koo (No. 20), who own stakes in CTBC Financial Holding and China Development Financial Holding, respectively, are the biggest gainers in percentage terms. Their separately listed fortunes more than doubled to $4.7 billion and $3.3 billion, thanks partly to new information about their holdings. There are three newcomers this year, including two minted from the red-hot sector of AI servers: Lin Tsung-Chi, founder and chairman of King Slide, a maker of rails for servers, enters the ranks at No. 24 with $2.9 billion; brothers Chao Chung-Hsin and Yung-Tsang (No. 32, $2.1 billion) join the list as their Jentech Precision Industrial, a supplier of semiconductor cooling components, reaped the benefits of the frenzied AI data center buildout. The third new entrant is Chang Chung-Hsing (No. 47, $1.51 billion), founder and chairman of Apex Dynamics, which supplies gearboxes for products such as industrial robots. The net worth of footwear magnate Zhang Congyuan (No. 6), who was Taiwan's richest person three years ago, shrank by $1.8 billion to $8.3 billion, registering the biggest decline in dollar terms. Shares of his Guangdong-based Huali Industrial Group fell by more than a fifth amid U.S. tariff threats. Four listees from last year dropped off. Notable among them are brothers William and Wilfred Wang, whose fortune drawn from Formosa Plastics Group was impacted by global headwinds in the chemicals sector. The minimum net worth to make the list rose to $1.3 billion from $1.1 billion last year. The top 10 richest in Taiwan are: The list was compiled using information from individuals, analysts, government agencies, stock exchanges, databases and other sources. Net worths were based on stock prices and exchange rates as of the close of markets on May 9 and real-time net worths on may reflect different valuations. The ranking lists both individual and family fortunes, including those shared among relatives. Private companies were valued by using financial ratios and other comparisons with similar companies that are publicly traded. The list can also include foreign citizens with business, residential or other ties to Taiwan, or citizens who don't reside in Taiwan but have significant business or other ties. For more information, visit About Forbes: Forbes is an iconic global media brand that has symbolized success for over a century. Fueled by journalism that informs and inspires, Forbes spotlights the doers and doings shaping industries, achieving success and making an impact on the world. Forbes connects and convenes the most influential communities ranging from billionaires, business leaders and rising entrepreneurs to creators and innovators. The Forbes brand reaches more than 140 million people monthly worldwide through its trusted journalism, signature ForbesLive events and 49 licensed local editions in 81 countries. For media queries, please contact: Catherine Ong Associates Pte Ltd Catherine Ong, cell: +65 9697 0007, Email: cath@ Chenxi Wang, cell: +65 8187 3215, Email: chenxi@
Forbes
4 days ago
- Business
- Forbes
Taiwan's 50 Richest 2025: Strong Demand For Chips Helps Drive Double-Digit Growth In Wealth To Record High
Daniel Tsai. This story is part of Forbes' coverage of Taiwan's Richest 2025. See the full list here. Taiwan's thriving semiconductor industry continues to boost its economy, which grew at an annual rate of 4.6% in 2024, the highest in three years. Despite the jolt from U.S. President Donald Trump's tariff threats, which left the benchmark Taiex index up only slightly since we last measured fortunes, the rising New Taiwan dollar powered a 13% increase in the combined wealth of Taiwan's 50 richest to $197 billion from $174 billion last year. ss A total of 36 listees are more well-off in this round, resulting in a shuffle in the top ranks. Siblings Daniel & Richard Tsai were the biggest dollar gainers with a $3.2 billion boost, which took their wealth to $13.9 billion and earned them the No. 1 spot after a year's gap. Shares of their Fubon Financial Holding jumped 16% from last year, thanks partly to its expanding banking operations. Quanta Computer chairman Barry Lam, who was last year's richest, slipped to second place, despite an 8% uptick in his net worth to $12.6 billion. In February, the maker of laptops and AI servers teamed up with American quantum processing firm Rigetti Computing to develop superconducting quantum computing technology. Brothers Tsai Hong-tu & Cheng-ta of Cathay Financial Holdings, cousins of Daniel and Richard, climbed two places to No. 3, with $10.9 billion. In November, a wind power unit of their group's insurance arm agreed to invest $1.65 billion for a 50% stake in an offshore wind farm in Taiwan, to be constructed and run by Danish energy company Ørsted. Siblings Jeffrey Koo Jr. and Angelo Koo, who own stakes in CTBC Financial Holding and KGI Financial Holding, respectively, are the biggest gainers in percentage terms. Their separately listed fortunes more than doubled to $4.7 billion and $3.3 billion, thanks partly to new information about their holdings. There are three newcomers this year, including two minted from the red-hot sector of AI servers: Lin Tsung-Chi, founder and chairman of King Slide, a maker of rails for servers, enters the ranks with $2.9 billion; brothers Chao Chung-Hsin & Yung-Tsang join the list as their Jentech Precision Industrial, a supplier of semiconductor cooling components, reaped the benefits of the frenzied AI data center buildout. The third new entrant is Chang Chung-Hsing, founder and chairman of Apex Dynamics, which supplies gearboxes for products such as industrial robots. The net worth of footwear magnate Zhang Congyuan, who was Taiwan's richest person three years ago, shrank by $1.8 billion to $8.3 billion, registering the biggest decline in dollar terms. Shares of his Guangdong-based Huali Industrial Group fell by more than a fifth amid U.S. tariff threats. Four listees from last year dropped off. Notable among these are brothers William & Wilfred Wang, whose fortune drawn from Formosa Plastics Group was impacted by global headwinds in the chemicals sector. The minimum net worth to make the list rose to $1.3 billion from $1.1 billion last year. Full Coverage of Taiwan's Richest 2025: Editing assistance by Phisanu Phromchanya. Reporting by Shu-Ching Jean Chen, Gloria Haraito, Enyi Hu, Shanshan Kao, Chengbo Liu, Catherine Wang and Yue Wang. Methodology: The list was compiled using information from individuals, analysts, government agencies, stock exchanges, databases and other sources. Net worths were based on stock prices and exchange rates as of the close of markets on May 9 and real-time net worths on may reflect different valuations. The ranking lists both individual and family fortunes, including those shared among relatives. Private companies were valued by using financial ratios and other comparisons with similar companies that are publicly traded. The list can also include foreign citizens with business, residential or other ties to Taiwan, or citizens who don't reside in Taiwan but have significant business or other ties. The editors reserve the right to amend any information or remove any listees in light of new information. Acknowledgements: Special thanks to CBRE Taiwan, Euromonitor International, Market Intelligence & Consulting Institute, TrendForce and the other experts who helped us with our reporting and valuations, including Wei-Jiun Hung, L&C Attorneys-at-Law; Parsley Ong, J.P. Morgan; Hung Ou Yang, Brain Trust International Law Firm; and Sophie Perret, HVS.
CBS News
19-03-2025
- Health
- CBS News
San Francisco health officials reassess strategies as overdose deaths increase
The San Francisco Department of Public Health is planning to modify certain parts of its harm reduction strategies in tackling the city's drug overdose crisis, the department said Tuesday while announcing last month's number of drug overdose deaths. A preliminary count revealed that 61 people died last month from accidental drug overdose, nearly the same amount as February 2024 when 63 people died from overdose. February's preliminary number of overdose deaths is slightly higher than January 2025, when 57 people died. San Francisco Department of Public Health director Daniel Tsai made the announcement during a press conference on Tuesday, just three weeks into his new position after being appointed by Mayor Daniel Lurie. "What this really underscores is how urgent and important this work is that we have at the department," Tsai said. "Every one of those 61 deaths is unacceptable. It's preventable, and we as a department are going to be doing everything possible to tackling this epidemic." Tsai is attempting to navigate the city's response to preventing overdose deaths through reassessing strategies already in place, including aspects of harm reduction. "When I'm in discussions with our providers, clinicians, and others, people affirm the work happening with many of our providers and partners across the city," Tsai said. "But almost everyone agrees that something has to change." While he did not specify details of an exact plan, the department intends to alter its policy of handing out supplies like foil and straws in public areas used for smoking substances such as fentanyl. Fentanyl, a highly potent synthetic opioid, has contributed to the majority of overdose deaths in recent years. "The policy that we will pivot on is distributing smoking supplies like foil, pipes, straws, particularly in public spaces," Tsai said. Researchers at University of California, San Francisco have found that smoking fentanyl increases the risk of fatal overdose due to the resin that accumulates in smoking paraphernalia. Sharing smoking devices that contain fentanyl residue could be just as if not more deadly than sharing needles, according to the 2024 paper authored by researchers at UCSF. Tsai made it clear that the department will continue its practice of supplying clean syringes used for injecting drugs in order to help reduce the spread of illnesses like hepatitis C and HIV. "San Francisco is not backing away in any way, shape or form from the tested, proven public health intervention of sterile syringe access, full stop," Tsai reaffirmed. Tsai's announcement comes one day after Lurie signed "Breaking the Cycle," a comprehensive strategy aimed at combating the overlapping issues of homelessness and drug addiction. The executive directive calls for more coordinated services, better measurement of outcomes, and accountability for government. The idea is to get more people off the street and connected to services, keep public spaces clean and safe, and better manage taxpayer resources. One aspect of the directive includes immediately modifying the city's policy of distributing clean smoking supplies, which garnered support from several supervisors. "Mayor Lurie's directive is taking aim at some sacred cows here -- from harm reduction to homelessness spending -- that quite frankly deserve scrutiny for why they've failed to achieve better outcomes," Supervisor Matt Dorsey said in a statement. "Reassessing fentanyl supply policies is a necessary step to prioritize treatment and recovery," said Supervisor Stephen Sherrill in the directive's press release. Tsai said that the department will release more details on its changes to supplying equipment used for smoking drugs in the near future. "My team will be meeting rapidly with a range of folks in the community over the coming week or week and a half before we roll out a more concrete policy pivot," Tsai said.
