Wang Yung-tsai (24 January 1921 – 27 November 2014) was the younger brother of Wang Yung-ching, founder of Formosa Plastics Group.[1]
Life and career
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 life
He was a fan of golf and would often wake up at 5 A.M to play.[7] He died on 27 November 2014 at the age of 93.[8] Wang's funeral was held on 14 December 2014.[9]
References
- Chi-i Pan, Ching-chun Wu, Meng-ju Lin, Frances Huang. Formosa Group co-founder dies aged 93 (update) Central News Agency, 28 November 2014, retrieved 28 November 2014^
- Yu-Huay Sun. Formosa Plastics Group Co-Founder Wang Yung-Tsai Dies at 92 Bloomberg, 26 November 2014, retrieved 27 November 2014^
- Formosa Group chairman Wang Yung-tsai dies, aged 93 Central News Agency, 27 November 2014, retrieved 27 November 2014^
- Kathrin Hille. Formosa Plastics chief hands over the reins Financial Times, 6 June 2006, retrieved 27 November 2014^
- #10 Wang Yung-tsai Forbes, 31 March 2010, retrieved 27 November 2014^
- #12 Wang Yung-Tsai & family Forbes, June 2014, retrieved 27 November 2014^
- Sara Wu, Eric Chang. Your Future Begins at Dawn CommonWealth Magazine, 30 January 2008, retrieved 27 November 2014^
- Cameron Kan. FPG cofounder Wang Yung-tsai dies aged 93 Taipei Times, 28 November 2014, retrieved 28 August 2017^
- Cameron Kao. Formosa Plastics cofounder's funeral held Taipei Times, 15 December 2014, retrieved 28 August 2017^