List of 10 Richest People In Taiwan 2023: Check Here!

Following a robust 6.3% surge in 2021, Taiwan experienced a more measured economic growth of 2.5% in 2022. This deceleration was attributed to a slowdown in exports amidst a global demand downturn and escalating geopolitical tensions. Despite the benchmark Taiex index witnessing a 9% decline since the previous assessment of fortunes, the combined wealth of Taiwan's 50 wealthiest individuals experienced only a marginal dip, decreasing from $158 billion to $155 billion.

The forthcoming list will spotlight the top 10 richest individuals in Taiwan, providing insights into their net worth and the sources of their income.

Siblings Daniel and Richard Tsai are the Richest in Taiwan with a net worth of $8.8 Billion.

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10 Richest People Of Taiwan In 2023

Daniel and Richard Tsai have ascended two positions to reclaim the coveted No. 1 spot after a five-year hiatus, despite encountering an 8% decrease in their accumulated wealth, which now stands at $8.8 billion. The valuation of their Fubon Financial Holdings witnessed a decline owing to a downturn in shares, primarily influenced by insurance claim disbursements linked to COVID-19-related policies, consequently impacting their earnings.

Tsai Hong-tu

Similarly impacted by insurance payouts, the fortunes of Tsai Hong-tu and Cheng-ta, prominent figures in the finance realm and siblings at Cathay Financial Holdings, encountered a shift from No. 2 to No. 4 on the rankings. Presently valued at $7.7 billion, their position on the list reflects the financial impact stemming from these insurance claim settlements.

The siblings Wei Ing-Chou, Ying-Chiao, Yin-Chun, and Yin-Heng, who wield authority over a formidable food and beverage empire within the privately held Ting Hsin International Group, have surged to the No. 2 position with a combined wealth of $8.3 billion. The group's publicly listed arm, Tingyi, recognized widely as Master Kong and renowned as one of mainland China's largest instant noodle manufacturers, reported record-breaking sales of $11.4 billion in 2022.

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Wei Ing-Chou

In addition to their achievements in the food industry, the brothers are contemplating an initial public offering (IPO) for their fast-food chain, Dicos. This move follows the opening of the chain's inaugural store in Hong Kong in January, marking a strategic expansion of its business portfolio.

The ascent of chemical prices has significantly elevated the net worth of Lin Shu-hong, co-founder of the petrochemicals conglomerate Chang Chun Group, reaching an impressive $7.9 billion. This surge in wealth has propelled him to the third position in the rankings.

Zhang Congyuan

Meanwhile, Zhang Congyuan, the footwear magnate who held the title of the richest individual in the preceding year, experienced the most substantial contraction in dollar terms, witnessing a decline of $4.5 billion, resulting in his wealth settling at $7.6 billion. Consequently, Zhang has slipped to the fifth position. The diminishing value of shares in his Zhongshan, Guangdong-based Huali Industrial Group is attributed to reduced orders from existing clients, stemming from disruptions induced by the ongoing pandemic. This downturn in his business has played a pivotal role in the reshuffling of rankings within the list of the wealthiest individuals.

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The compilation of the list is derived from Forbes' comprehensive report titled "Taiwan’s 50 Richest 2023." This report meticulously gathers information from diverse sources, encompassing input from individuals, analysts, government agencies, stock exchanges, databases, and various other outlets. Net worth calculations were grounded in stock prices and exchange rates as of the market's closure on April 7, and it's noteworthy that real-time net worths on Forbes.com might exhibit disparities due to different valuations.

For privately held companies, valuation was conducted through the application of financial ratios and comparisons with analogous publicly traded entities. It is essential to acknowledge that the estimated net worths may exhibit variances compared to those featured on the World’s Billionaires List, which encapsulates individual fortunes with net worths as of March 10. This methodological approach underscores the dynamic nature of wealth valuation and the multifaceted factors influencing such assessments.

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