Combined worth of 40 richest shrinks in 2009

Seventeen billionaires are on the list, down from 29 last year. A net worth of US$550 million was needed to make the cut, down from US$570 million a year ago, the report said.

Cathay Financial Holdings Chairman Tsai Hong-tu and his brothers retained their top position this year with a net worth of US$5.1 billion. Their uncle, Fubon Group founder Tsai Wan-tsai, came in second with a net worth of US$4.2 billion.

Want Want Holdings Chairman Tsai Eng-meng seized third place with a net worth of US$3.6 billion, followed by Hon Hai Precision Industry Chairman Terry Gou with a net worth of US$3.3 billion, and Tingyi Holding Corp. Chairman Wei Ing-chou with a net worth of US$3.2 billion.

Rounding out the top 10 were property and media tycoon Lin Rong-san with a net worth of US$2.3 million; Quanta Computer Chairman Barry Lam at US$2.15 billion; HTC Corp. Chairwoman Cher Wang and her husband, VIA Technologies Inc. President Chen Wen-chi, at US$2.1 billion; Hung Tai Group Chairman Lin Yu-lin at US$1.9 billion; and Cheng Shin Rubber founder Luo Jye and family, at US$1.5 billion.

The net worths were calculated using stock prices and exchange rates as of June 19, 2009, based on shareholder and financial information provided by the individuals, stock exchanges and public documents.

According to the report, although a 46 percent surge in Taiwan's stock index since February has helped salvage some of the wealth of the top 40, it was insufficient to cover their overall losses for the year.

Among the five individuals who saw an increase in their fortunes this year, three have extensive interests in China. They include Tsai Eng-meng, who is US$1 billion richer, and Wei Ing-chou, whose net worth is up US$550 million, the report said.

There are seven newcomers on this year's list. They include King Car Group Chairman Lee Tien-tsai, who ranked 35th with a net worth of US$600 million; Taiwan High Speed Rail Corp. Chairwoman Nita Ing, who ranked 38th with a net worth of US$570 million; and Ambassador Hotel Chairman Emmet Hsu, who ranked 40th with a net worth of US$550 million.

Subscribe to The China Post and save 25%. Click here

SharePrintEmail

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos
 Respond to this email