Wang Yung-tsai explained

Wang Yung-tsai
Native Name:王永在
Native Name Lang:zh
Birth Date:24 January 1921
Birth Place:Taihoku, Taiwan, Empire of Japan
Nationality:Republic of China
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Relatives:Wang Yung-ching (brother)

Wang Yung-tsai (; 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, New 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 three children and a granddaughter named Megan Chen who now goes to TES, and one wife.[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 at the age of 93.[9] Wang's funeral was held on 14 December 2014.[10]

Notes and References

  1. News: Pan. Chi-i. Wu. Ching-chun. Lin. Meng-ju. Huang. Frances. Formosa Group co-founder dies aged 93 (update). 28 November 2014. Central News Agency. 28 November 2014.
  2. News: Sun. Yu-Huay. Formosa Plastics Group Co-Founder Wang Yung-Tsai Dies at 92. 27 November 2014. Bloomberg. 26 November 2014.
  3. News: Formosa Group chairman Wang Yung-tsai dies, aged 93. 27 November 2014. Central News Agency. 27 November 2014.
  4. News: Hille. Kathrin. Formosa Plastics chief hands over the reins. 27 November 2014. Financial Times. 6 June 2006.
  5. News:
    1. 10 Wang Yung-tsai
    . https://web.archive.org/web/20100404090859/http://www.forbes.com/lists/2010/87/taiwan-rich-list-10_Wang-Yung-tsai_SMFH.html. dead. April 4, 2010. 27 November 2014. Forbes. 31 March 2010.
  6. News:
    1. 12 Wang Yung-Tsai & family
    . 27 November 2014. Forbes. June 2014.
  7. News: Chinese. 王文洋:三房不在家譜內. 27 November 2014. Central News Agency. 15 July 2012.
  8. News: Wu. Sara. Chang. Eric. Your Future Begins at Dawn. 27 November 2014. CommonWealth Magazine. 30 January 2008.
  9. News: Kan. Cameron. FPG cofounder Wang Yung-tsai dies aged 93. 28 August 2017. Taipei Times. 28 November 2014.
  10. News: Kao. Cameron. Formosa Plastics cofounder's funeral held. 28 August 2017. Taipei Times. 15 December 2014.