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Forbes
5 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.
Wall Street Journal
29-05-2025
- Business
- Wall Street Journal
Foxconn Reassures Shareholders Amid Cloudy Outlook
Foxconn 2317 3.29%increase; green up pointing triangle Technology Group, the world's largest contract electronics maker, said its revenue this year would beat last year's, boosting shareholders' confidence after it downgraded its outlook earlier this month. Foxconn Chairman Young Liu said at the company's annual shareholders conference on Thursday that 2025 revenue is expected to be over 7 trillion New Taiwan dollars, equivalent to $234 billion, as robust AI server demand continues to support its growth. In comparison, revenue in 2024 was NT$6.86 trillion.
The Independent
20-05-2025
- The Independent
A car runs a red light and kills 3 people in Taiwan, including two 12-year-old girls
A car plowed through pedestrians at an intersection in Taiwan, killing three people including two 12-year-old girls, according to media reports. The 78-year-old driver was in a coma after the Monday afternoon crash. Police said the driver went through the intersection when the traffic lights were red in all directions, Taiwan's Central News Agency reported. The car sideswiped three scooters and a bicycle and kept going until running into a concrete divider in the middle of a street. The accident happened in New Taipei, the sprawling area in northern Taiwan that surrounds Taipei, the capital. Video posted online by the Central News Agency shows debris strewn in the intersection and people giving CPR to two victims, one behind a red scooter lying on its side. A 40-year-old woman died along with the two students from a nearby junior high school. Twelve other people were injured. They included seven students from the same school and a 5-year-old boy, who was slightly injured, according to statements from the New Taipei government and fire department. Five people were seriously injured, including the driver. He tested negative for alcohol consumption, the Central News Agency said, citing police. The cause of the crash was under investigation.
NHK
08-05-2025
- Entertainment
- NHK
Teresa Teng fans remember singer at Taiwan concert 30 years after her death
Fans have remembered the singer Teresa Teng at a music event in Taiwan to mark 30 years since her death. The Taiwan-born performer was dubbed an "Asian diva" and was also popular in Japan. Teng's family members and fans attended the memorial concert at a park in New Taipei in northern Taiwan on Thursday. Her grave is located in the park. They offered incense sticks and flowers at her grave. Indigenous people played her songs with violins and other string instruments. Teng was known for her many hit songs such as "I only care about you." She died on May 8, 1995, at the age of 42. A 30-year-old man from Taichung, central Taiwan, said he felt Teresa Teng was like a family member as he grew up in a single-parent household. He said her songs calm people's hearts. The participants included Kobori Shotaro, deputy mayor of Mishima Town in the Japanese prefecture of Fukushima. Teng called Mishima her "hometown in Japan." Kobori said the town hopes to deepen exchanges with Taiwan by cherishing its ties with Teng.
