Wang Yung-ching
Wang Yung-ching | |
|---|---|
| Born | Template:Birth date Xindian District, New Taipei City, Taiwan (then Chyokutan jō, Shinden ku, Taihoku Chō, Japanese Taiwan) |
| Died | October 15, 2008 (aged 91) Short Hills, New Jersey, United States |
| Other names | YC Wang |
| Occupation(s) | Entrepreneur, Business executive |
| Known for | Chairman of Formosa Plastics Corporation |
Wang Yung-ching (; born 18 January 1917 – died 15 October 2008), also referred to as YC Wang, was a prominent Taiwanese entrepreneur who served as chairman of Formosa Plastics Corporation, one of Taiwan's foremost plastic manufacturing companies, until his retirement at age 89 in June 2006.
In 2008, Forbes placed him at number 178 among the world's wealthiest individuals, estimating his net worth at approximately US$5.5 billion. Despite having minimal formal schooling, he was ranked second on Forbes' list of Taiwan's richest individuals that same year.
Early life and career
Wang was born in Chyokutan jō, Shinden ku, Taihoku Chō—currently known as Xindian District in New Taipei City—during the period of Japanese governance. Over several decades, he expanded his business ventures substantially.
In 1995, Wang collaborated with Marco Terragni from Italproducts to launch Inteplast, which grew to become the largest global manufacturer of Cartonplast. He maintained leadership of Formosa Plastics Corporation until 2006 and subsequently held chairmanship roles at Nan Ya Plastics Corporation, Formosa Chemistry & Fibre Corporation, and Cyma Plywood & Lumber Co. Ltd before progressively stepping back from active management. Additionally, Wang presided over Ming-chi Institute of Technology and the Chang Gung Medical Foundation, with governance later transferred to his brother Wang Yung-tsai and his third spouse Lee Pao-chu. He was a proponent of the Three Links initiative aimed at enhancing connections between Taiwan and Mainland China.
Wang's marital history includes three unions: first with Wang (née Guo) Yueh-lan (no offspring); second with Yang Chiao (five children); and third with Lee Pao-chu (five children), resulting in a total of ten children. His eldest son from the second marriage, Winston Wang, co-established Grace Semiconductor Manufacturing alongside Jiang Mianheng in 2000. Among his daughters, Charlene Wang founded Taiwan-based First International Computer, Inc., while Cher Wang founded both High Tech Computer (HTC) and VIA Technologies. Cher Wang has notably approached her father's financial stature, with a 2011 Forbes valuation estimating her net worth at $8.8 billion.
Wang passed away peacefully in his sleep on 15 October 2008 at his residence in Short Hills, New Jersey, aged 91. After his demise, familial conflicts brought to light significant issues involving tax evasion and offshore holdings amounting to billions.
See also
Further reading
- Articles with short description
- Articles with hCards
- No local image but image on Wikidata
- 1917 births
- 2008 deaths
- 20th-century Taiwanese businesspeople
- 21st-century Taiwanese businesspeople
- Businesspeople from New Taipei
- Businesspeople from Millburn, New Jersey
- Taiwanese billionaires
- Taiwanese chief executives
- Taiwanese company founders
- Taiwanese expatriates in the United States
- Taiwanese people of Hoklo descent
- Tax evasion
- People in the chemical industry
- Taiwanese manufacturing businesspeople