The Wangs are one of Taiwan’s richest families through their control of Formosa Plastics Group, a world-leading producer of plastics and petrochemicals. Founded by Y.C. Wang in 1954, the Group includes Nan Ya Plastics, Formosa Chemicals and Formosa Plastics.
Son of a tea farmer with modest roots, Y.C. Wang built the business group with his younger brother, Wang Yung-tsai, into one of Asia’s largest petrochemical manufacturers. Y.C. Wang retired as the company’s Chairman in 2006 after more than five decades. His nephew, Lee Chih-tsuen, now leads the business. Y.C. Wang passed away in 2008 with an estimated net worth of nearly $6 billion. His children William Wong and Wilfred Wang serve on the company’s board with other members of the extended family. Y.C. Wang’s daughter, Cher Wang, leads Taiwan smartphone maker, HTC and VIA Technologies. Winston Wang founded Grace Semiconductor Manufacturing, and Y.C.’s daughter, Charlene Wang, founded Taiwan-based First International Computer.
The Wang family’s estimated net worth is $5.4 billion. Cher Wang’s net worth is estimated at $2.4 billion.
