Taiwan’s Richest 2020: Trade tensions between the world’s 2 largest economies sent Taiwan’s stocks soaring and made its richest tycoons even richer
hereMembers on Taiwan’s list of the 50 richest saw a gain of 7.7% in their total net worth, from $104 billion to $112 billion in the 2020 list. The gain was modest compared with Taiwan’s benchmark stock index, which rose more than 22% since we last measured fortunes in November 2018.
Tsai Ming-kai was up 80% on share gains in MediaTek, a developer of 5G chips. The biggest individual gainer in dollar terms, though, was Tsai Eng-meng of snack maker Want Want China: he added $1.4 billion to his fortune as lower raw material prices boosted Want Want’s earnings in the first half of the year. Tsai rose two spots to No. 3.
In all, there were 25 members of the list whose fortunes rose this year, nine of whom count on tech for much of their fortunes. Two joined the rankings after a long absence. Cho Jyh-jer, who last made our list 10 years ago, benefited from his stake in MediaTek. He returns at No. 46 with a net worth of $615 million. Tsai Tien-tsan of King’s Town Construction rejoins the list after a seven-year absence.
Among the 17 listees who saw their fortunes decline were brothers Allen Horng and Hung Tien-szu, who shed nearly 27% of their net worth as shares in their Catcher Technology, a maker of electronic components, suffered from sluggish Apple iPhone sales. Wang Chou-hsiong lost 15% of his fortune as shares in his contract shoemaker Feng Tay Enterprises, which rose with trade tensions, retreated when China and the U.S. moved closer to a deal.
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