Cher Wang

Cher Wang (Chinese: 王雪紅; pinyin: Wáng Xuěhóng; born 15 September 1958) is a Taiwanese entrepreneur and philanthropist. As co-founder and chairperson (since 2007[3]) of HTC Corporation and integrated chipset maker VIA Technologies. She is considered one of the most powerful and successful women in computer technology.[4] Wang's father was Wang Yung-ching,[5] founder of the plastics and petrochemicals conglomerate Formosa Plastics Group and one of the wealthiest individuals in Taiwan before his death in 2008.[6] As of 2014, she is listed as the 54th most powerful woman in the world by Forbes.[7]

In this Chinese name, the family name is Wang 王.
Cher Wang
Wang at the World Economic Forum on 23 January 2008
Born (1958-09-14) 14 September 1958
NationalityTaiwanese
EducationUC Berkeley, 1981
OccupationEntrepreneur
Years active1997–present
EmployerHTC, VIA Technologies
Known forContributions to HTC and VIA; creating a fairly early model of smart phones in 1997
Net worth US$850 million (May 2016)[1]
Spouse(s)Chen Wen-Chi
Children2[2]
Parent(s)Wang Yung-ching
Jiao Yang
RelativesCherlin Wang

Early life and education

Wang was born on 15 September 1958 in Taipei, Taiwan. She studied abroad at The College Preparatory School in Oakland, California, and went on to receive her bachelor's degree in economics[8] from the University of California, Berkeley in 1981.

Career

Wang joined First International Computer (FIC) in 1982.[9] Wang and others founded VIA in 1987 and HTC in 1997. In May 2011, Forbes ranked her, with husband Wen Chi Chen, as the wealthiest person in Taiwan, with a net worth of US$8.8 billion.[10] In August 2012, Wang was named No. 56 on Forbes' list of The World's 100 Most Powerful Women.[11] As of 2014, she is listed as the 54th most powerful woman in the world by Forbes.[7]

In October 2014, Cher Wang refused to accept the Final Award of the "HKIAC / A11022 arbitration" and appealed to the Hong Kong High Court (Case No.:HCCT40 / 2014) before Judge Mimmie Chan. Wang asserted that the Award was contrary to public policy. VIA product VT3421, an anti-hack chip (also named asTF376) was suspected of assisting the Chinese government in surveilling mobile devices of anti-communist and human rights activists. In a hearing before Justice Mimmie Chan, in the High Court of Hong Kong, the defense counsel maintained that the Award was in violation of Hong Kong's public order and morals.[12] In June 2015 the Judge remised the case back to Arbitrator Anthony Neoh. The unusual case was documented by the World Arbitration News which upholds the integrity of the HKIAC arbitration process.[13] The tribunal upheld the conviction in October 2015, and VIA lost the case for millions of dollars.[14] The backdoor of hacking prevention chip VT3421/TF376 causes big issues in Taiwan. 11 Legislative Senators made the suggestion to suspend the government procurement of hTC related communication products until the VIA Electronics' VT3421/TF376 hacking control chip backdoor issue should be thoroughly investigated by National Security Bureau and National Communication Committee.[15][16] In December 2020, Taiwan High Court decided Cher Wang/VIA failed the case and put for enforcement. [17]

In March 2015, Cher Wang took over the CEO role from Peter Chou and returned to the day-to-day operations of HTC.[18]

In September 2017, HTC and Google announced a US$1.1 billion cooperation agreement, which involved certain HTC employees would join Google, and Google would receive HTC IP through a non-exclusive licensing agreement.[19]

Wang's Charity Foundations are holding eight investment companies' stocks with a market value of over US$200 million. However, only US$27,000 has been donated to charity (0.000135%).[20] Wang suited the reporter with anger and failed the case on February 2018.[21]

Philanthropy

In 2011 Wang donated US$28.1 million to help found Guizhou Forerunner College, a charitable college in southwest China set up by VIA Technologies' non-profit Faith-Hope-Love Foundation.[22] The not-for-profit college aims to provide three years of free or low-cost education to students from low-income families. Wang has stated that if the college proves successful she may well set up additional similar institutions in other parts of the country.

Wang has also made significant donations to the University of California, Berkeley, including funding to support and enhance the prestigious American Physical Society's Oliver E. Buckley Condensed Matter Prize, given to researchers who make considerable contributions to the field of condensed-matter physics.[23]

Wang and Chen also provide funding to support a collaborative program between the psychology departments at UC Berkeley and Tsinghua University in Beijing.[24] The Berkeley-Tsinghua Program for the Advanced Study in Psychology aims to create and support collaborative, psychological research between faculty and students from both universities.

In August 2012 Wang donated 6,000 HTC Flyer tablet PCs to 60 high schools in Taipei.[25]

Personal life

Wang is an avid philanthropist who says she prefers to stay out of the limelight despite her many accomplishments.[9] She has begun to insert herself in Taiwan politics, however, by supporting Taiwan President Ma Ying-jeou in his bid for re-election[26] and by voicing her support for the 1992 Consensus.[27] Her husband is Wen Chi Chen, the CEO of VIA Technologies. Wang is Christian. She has two children.[9]

Controversies

Wang had been accused of backing and funding anti-LGBTQ groups and activities in Taiwan, including the cooperation with the US-based groups organizing International House of Prayer. Estimate $388 million was allegedly donated through two non-profit organizations run by her to anti-LGBTQ groups in Taiwan over the past five years.[28]

Due to the ruling of Taiwan's Council of Grand Justices that the Civil Code's prohibition of same-sex marriage is unconstitutional and must be amended by 24 May 2019, on 4 May 2019, Wang & her "Faith, Hope & Love Foundation" along with Democratic Progressive Party legislator Lin Tai-hua drafted a "same-sex union" bill which contains a "fake marriage" clause that would authorize prosecutors or social welfare agencies to request that a court intervene and abrogate a same-sex union if relatives within three degrees of consanguinity of either member of the union believe that it was not for the purpose of two people "living life together". The version also has a clause that says, "as one’s conscience and freedom should not be affected by the enactment of this act, conveying or inculcating beliefs against the relationship described in Article 2 (same-sex union) does not constitute discrimination". The bill was called by Taiwan legislator and LGBT rights activist Yu Mei-nu "stark discrimination against same-sex couples," questioning what right people have to scrutinize the sincerity of others' marriage.[29]

References
  1. https://www.forbes.com/profile/chen-wenchi-wang-cher/#685dcaff7834
  2. https://www.forbes.com/profile/cher-wang/?sh=167426f7a9d0
  3. "Executive Profile: Cher Wang". Businessweek. Retrieved 5 March 2013.
  4. "Most Influential Women in Technology 2011 – Cher Wang". FastCompany. Archived from the original on 25 October 2012. Retrieved 10 January 2013.
  5. Kovac, Matt (11 July 2005). "Taiwan's Priestess of The PDA". Business Week. Archived from the original on 20 September 2008. Retrieved 8 August 2008.
  6. "Wang, Billionaire who led Formosa Plastic death at 91". The New york Times. Archived from the original on 20 July 2014. Retrieved 27 July 2014.
  7. "The World's 100 Most Powerful Women". Forbes. Forbes. Archived from the original on 22 June 2019. Retrieved 26 June 2014.
  8. Adams, Jonathan (3 March 2010). "Strain on HTC From Apple Suit Is Likely to Be Long-Term". New York Times. Archived from the original on 4 March 2010. Retrieved 3 March 2010.
  9. Holson, Laura (26 October 2008). "With Smartphones, Cher Wang Made Her Own Fortune". The New York Times. Archived from the original on 11 May 2011. Retrieved 29 October 2008.
  10. Flannery, Russell (25 May 2011). "Taiwan's 40 Richest". Forbes. Archived from the original on 27 May 2011. Retrieved 25 May 2011.
  11. "The World's 100 Most Powerful Women". Forbes. 22 August 2012. Archived from the original on 20 September 2017. Retrieved 15 January 2013.
  12. "Arbitration Proceedings HKIAC/AC11022" (PDF). Retrieved 23 February 2020.
  13. {cite news|title=Arbitration set aside|url=https://globalarbitrationnews.com/hong-kong-court-saves-defective-award-set-aside}}
  14. "VIA Annual Report" (PDF). VIA. Archived (PDF) from the original on 5 January 2017. Retrieved 21 September 2016.
  15. "Taiwan Legislative House Report Volume 103 No. 89" (PDF). Legislative Yuan Bulletin Volume 103 No. 89 Meeting Record. 19 December 2014. Archived (PDF) from the original on 11 November 2018. Retrieved 11 November 2018.
  16. "Legislative Yuan Bulletin Volume 103 No. 89 Meeting Record" (PDF). 19 December 2014. Archived (PDF) from the original on 11 November 2018. Retrieved 11 November 2018.
  17. {cite news|title=VIA account and property enforced |url=https://tw.stock.yahoo.com/news/%E5%85%AC%E5%91%8A-%E5%A8%81%E7%9B%9B%E9%9B%BB%E5%AD%90%E6%8E%A5%E7%8D%B2%E8%87%BA%E7%81%A3%E8%87%BA%E5%8C%97%E5%9C%B0%E6%96%B9%E6%B3%95%E9%99%A2%E5%9F%B7%E8%A1%8C%E5%91%BD%E4%BB%A4-091407472.html}}
  18. "HTC Chairwoman Cher Wang Takes Over CEO Role From Peter Chou". Bloomberg.com. 20 March 2015. Archived from the original on 21 September 2017. Retrieved 21 September 2017.
  19. "Google and HTC Announce US$1.1 Billion Cooperation Agreement". www.htc.com. 21 September 2017. Archived from the original on 21 September 2017. Retrieved 21 September 2017.
  20. "False Charity". New7. Archived from the original on 23 September 2016. Retrieved 21 September 2016.
  21. "HTC Chairwoman Cher Wang failed to reporter Yao". Archived from the original on 11 November 2018. Retrieved 11 November 2018.
  22. Cheng-yen, Han (24 September 2011). "HTC's Cher Wang opens vocational school in Guizhou". Want China Times. Archived from the original on 17 February 2013. Retrieved 15 January 2013.
  23. "Buckley Prize Receives Major Donation from Taiwanese Company". APS News. November 2012. Archived from the original on 19 September 2015. Retrieved 15 January 2013.
  24. Anwar, Yasmin (15 July 2010). "UC Berkeley psychologists bring science of happiness to China". US Berkeley News Center. Archived from the original on 16 January 2013. Retrieved 15 January 2013.
  25. "HTC's Cher Wang ranked 56th on Forbes' list of powerful women". Want China Times. 24 August 2012. Archived from the original on 4 July 2013. Retrieved 17 January 2013.
  26. "Ma Ying-jeou wins Taiwan election," Financial Times, 14 January 2012
  27. "I back 1992 Consensus as a true Taiwanese, says HTC's Cher Wang," Archived 21 February 2014 at the Wayback Machine Want China Times, 14 January 2012
  28. Lang, Nico (23 November 2018). "HTC Founder's Non-Profit Backed Anti-Gay Groups Fighting Marriage Equality in Taiwan". INTOmore.com. Archived from the original on 5 December 2018. Retrieved 23 November 2018.
  29. Lin, Sean (4 May 2019). "Controversial same-sex 'union' bill advances". Taipei Times. Retrieved 16 May 2019.
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