The Wang family founded Formosa Plastics Group, Taiwan’s largest manufacturing conglomerate. Wang Yung-ching (aka Y.C. Wang) established Formosa Plastics Corp. in 1954 and, along with his brother Y.T. Wang, built the company into one of the globe’s biggest suppliers of PVC, as well as one of Asia’s largest petrochemical producers. Yung-ching was considered the second wealthiest person in Taiwan before his death in 2008, with an estimated worth of $5.5 billion. The leadership of the company was passed to a committee that included Y.C.’s daughter Cher and two of Y.T.’s sons.
Cher co-founded technology company and smartphone maker HTC Corporation, serving as its Chairperson since 2007. Along with her husband Wenchi Chen, President and CEO of VIA Technologies, the couple was considered to be the richest in Taiwan in 2011, with a net worth of $8.8 billion. Two of Cher Wang’s siblings serve on Formosa’s seven-member executive team. Her sister, Charlene Wang, helped found motherboard producer First International Computer in 1980.
