Tsai Wan-lin (Chinese: 蔡萬霖; pinyin: Caì Wànlín; 10 November 1924 – 27 September 2004) was a Taiwanese businessman who, at the peak of his wealth in 1996, was considered to be the fifth richest person in the world,[1] with a family net worth of US$12.2 billion.[2] At the time of his death in 2004, he was the richest man in Taiwan with a fortune of US$4.6 billion (NT$156.3 billion), ranked 94th worldwide.[3] He founded the Lin Yuan Group, a large banking and insurance group.[4]
Tsai Wan-lin | |
|---|---|
蔡萬霖 | |
| Born | 10 November 1924 |
| Died | 27 September 2004 (aged 79) |
| Nationality | Republic of China |
| Spouse | Chou Pao-chin |
| Children | Tsai Hong-tu (son) |
| Relatives | Tsai Chen-chou (nephew) |
He was born into a poor farmer's family in Chikunan Town, Chikunan District, Shinchiku Prefecture, Japanese-era Taiwan (modern-day Zhunan, Miaoli County). Tsai started out in Taipei by selling vegetables and soybeans with his brothers as a child.[5][6]
With one of his brothers Tsai joined Taipei's Tenth Credit Cooperative in 1960.[7] Two years later, they founded Cathay Life Insurance, which at the time of his death was the largest life insurance company in Taiwan.[5] Tenth Credit Cooperative was eventually transferred to Tsai Wan-lin's nephew Tsai Chen-chou.
The family split Cathay Life Insurance in 1979. Tsai Wan-lin founded the Lin Yuan Group with his share.[8][9] Over the next 10 years, the Lin Yuan Group expanded to become the largest Taiwanese conglomerate. Cathay Financial Holdings, a division of the Lin Yuan Group, became Taiwan's largest financial holding company.[10] Cathay Insurance was renamed Fubon Insurance in 1992.[11]
Tsai was first listed by Forbes as a billionaire in 1987.[12] He was appointed a senior adviser to the president of the Republic of China in 2000.[13]
He died of heart disease at the age of 81 in Taipei's Cathay General Hospital, which he founded in 1977. He had been hospitalized for six years.[7][14] Tsai was married to Chou Pao-chin and had seven children.[15]
See also
editReferences
edit- ^ "The billionaires' list". The Free Lance-Star. Google News. July 1, 1996. Retrieved 6 December 2014.
- ^ "Bill Gates still richest, but Asian tycoons getting closer". Observer-Reporter. Google News. 1 July 1996. Retrieved 6 December 2014.
- ^ "PASSINGS Tsai Wan-lin, 80; Tycoon Was the Wealthiest Man in Taiwan". Los Angeles Times. 29 September 2004. Retrieved 6 December 2014.
- ^ "Who will replace Tsai Wan-lin as Taiwan's wealthiest person?". China Economic News Service. 29 September 2004. Retrieved 6 December 2014.
- ^ a b Lin, Jackie; Chen, Kevin (29 September 2004). "Tsai led family to dominate nation's finance business". Taipei Times. Retrieved 6 December 2014.
- ^ Huang, Annie (November 4, 1988). "Taiwan's Rags-To-Riches Billionaire Shuns Publicity". Associated Press. Retrieved 7 July 2019.
- ^ a b "Tsai family may face huge heritage tax burden". China Post. 29 September 2004. Retrieved 6 December 2014.
- ^ "Tsai Wan-lin, the Richest Man in Taiwan, Dies". New York Times. 29 September 2004. Retrieved 6 December 2014.
- ^ Flannery, Russell (3 November 1998). "Orderly Succession Is Seen at Lin-Yuan As Billionaire Wan-Lin Tsai Falls Ill". Wall Street Journal. Retrieved 10 September 2018.
- ^ "Tsai Wan-lin". Chicago Tribune. 29 September 2004. Retrieved 6 December 2014.
- ^ Flannery, Russell (28 May 2001). "Citigroup's Secret Weapons". Forbes. Retrieved 6 December 2014.
- ^ Flannery, Russell (3 July 2009). "Oh, Brother". Forbes. Retrieved 6 December 2014.
- ^ "Nation's richest man dies at 79 after long illness". Taipei Times. 29 September 2004. Retrieved 6 December 2014.
- ^ "Taiwan's top billionaire dies at 81". United Press International. 29 September 2004. Retrieved 10 September 2018.
- ^ "Tsai Wan-lin". The Daily Telegraph. 14 October 2004. Retrieved 6 December 2014.
External links
edit- "A decade of wealth". Forbes. 5 July 1999. Retrieved 6 December 2014.
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