Wang Yung-tsai

Wang Yung-tsai (Chinese: 王永在; pinyin: Wáng Yǒngzài; 24 January 1921 – 27 November 2014) was the younger brother of Wang Yung-ching, founder of Formosa Plastics Group.[1] He was born in Chyokutan, Shinden Town, Bunsan District, Taihoku Prefecture, Japanese Taiwan (modern-day Xindian District, New Taipei).[2]

Wang Yung-tsai
王永在
Born24 January 1921
Taihoku, Taiwan, Empire of Japan
DiedNovember 27, 2014(2014-11-27) (aged 93)
NationalityRepublic of China
RelativesWang Yung-ching (brother)

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

Wang Yung-tsai had three children and a granddaughter named Megan Chen who now goes to TES, and one wife.[7] He was a fan of golf and would often wake up at 5 A.M to play.[8] He died on 27 November 2014 at the age of 93.[9] Wang's funeral was held on 14 December 2014.[10]

References
  1. Pan, Chi-i; Wu, Ching-chun; Lin, Meng-ju; Huang, Frances (28 November 2014). "Formosa Group co-founder dies aged 93 (update)". Central News Agency. Retrieved 28 November 2014.
  2. Sun, Yu-Huay (26 November 2014). "Formosa Plastics Group Co-Founder Wang Yung-Tsai Dies at 92". Bloomberg. Retrieved 27 November 2014.
  3. "Formosa Group chairman Wang Yung-tsai dies, aged 93". Central News Agency. 27 November 2014. Retrieved 27 November 2014.
  4. Hille, Kathrin (6 June 2006). "Formosa Plastics chief hands over the reins". Financial Times. Retrieved 27 November 2014.
  5. "#10 Wang Yung-tsai". Forbes. 31 March 2010. Retrieved 27 November 2014.
  6. "#12 Wang Yung-Tsai & family". Forbes. June 2014. Retrieved 27 November 2014.
  7. "王文洋：三房不在家譜內" (in Chinese). Central News Agency. 15 July 2012. Retrieved 27 November 2014.
  8. Wu, Sara; Chang, Eric (30 January 2008). "Your Future Begins at Dawn". CommonWealth Magazine. Retrieved 27 November 2014.
  9. Kan, Cameron (28 November 2014). "FPG cofounder Wang Yung-tsai dies aged 93". Taipei Times. Retrieved 28 August 2017.
  10. Kao, Cameron (15 December 2014). "Formosa Plastics cofounder's funeral held". Taipei Times. Retrieved 28 August 2017.


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