Wang Yung-ching | Taiwan magnate, 91
Wang Yung-ching, 91, a businessman who built his Formosa Plastics Group into Taiwan's biggest and most profitable manufacturing conglomerate, died Wednesday during a business trip. Local TV stations reported that Mr. Wang died of cardiac arrest in a New Jersey hospital.
Wang Yung-ching, 91, a businessman who built his Formosa Plastics Group into Taiwan's biggest and most profitable manufacturing conglomerate, died Wednesday during a business trip. Local TV stations reported that Mr. Wang died of cardiac arrest in a New Jersey hospital.
Forbes listed Mr. Wang as the island's second wealthiest person this year, with a personal fortune estimated at $6.8 billion.
Known widely as the "God of Management," Mr. Wang expanded his plastics and petrochemicals empire and diversified into electronics, cosmetics, hospitals and car manufacturing.
A strong proponent of closer economic ties with rival China, Mr. Wang invested in power plants and plastics factories on the Chinese mainland. Formosa Plastics also set up chemical companies in the United States and owns several oil wells and properties rich in natural gas in Texas. - AP