Wang Yung-Tsai’s profile picture

Wang Yung-Tsai

Wang Yung-Tsai’s profile picture
Net worth 2018: $3.1 Billion
Industry: Manufacturing
Country: Taiwan
BIOGRAPHY

Wang Yung-Tsai was born in Taiwan. Wang Yung-Tsai is the younger brother of entrepreneur legend, Y.C. Wang. Starting in 1954, the two built the Formosa Plastics Group into one of Asia's largest petrochemical manufacturers. Y.C. passed away in 2008 without a known will. Yung-tsai's son now leads the business after his father's retirement. The Formosa Plastics Group's largest companies include Nan Ya Plastics, Formosa Plastics and Formosa Chemicals & Fiber. Outside the boardroom, the family is caught up in a nasty lawsuit. Y.C.'s son Winston has alleged his half-sisters from his father's third marriage and Formosa Plastics executives made off with assets that really belong to him when Y.C. died.

NET WORTH STATISTIC
2011

$3.5 Billion

2012

$3.2 Billion

2013

$3 Billion

2014

$3.1 Billion

2018

$3.1 Billion

TIMELINE
2010

In 2010, Wang Yung-Tsai was named #10 wealthiest person in Taiwan by Forbes

2006

Both officially retired as chairmen in 2006, handing the conglomerate over to their children

2002

In 2002, Wang Yung-ching went into retirement, leaving Wang Yung-Tsai in control of Formosa Plastics

1993

In 1993, Wang was named director of Formosa Plastics' naphtha cracker, the sixth processing plant of its kind in Taiwan

1948

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

1921

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

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