Fubon brothers head Forbes Taiwan list

In this file photo dated in October, 2011, Daniel (right) and Richard Tsai of Fubon Financial show up in a company event.

Fubon brothers head Forbes Taiwan list

In this file photo dated in October, 2011, Daniel (right) and Richard Tsai of Fubon Financial show up in a company event.

TAIPEI (Taiwan News) – Daniel and Richard Tsai of Fubon Financial Holdings were the wealthiest Taiwanese for a second year in a row despite losing US$2 billion (NT$64 billion), Forbes Asia Magazine revealed in its July 6 edition.
Each year, the U.S. financial magazine draws up a list of Taiwan’s 50 wealthiest individuals and families.
The Tsai brothers, who inherited their empire from their father, were valued at US$8 billion (NT$258 billion).
Food and media tycoon Tsai Eng-meng, who owns the Want Want China Times Group, ended second with US$6.1 billion (NT$197 billion). Two climbers in the rankings, though not for their financial value, were Hon Hai Precision Industry Co., Ltd. Chairman Terry Gou at No.3 with US$6 billion (NT$193 billion) and property developer Hong Tai Group chief Lin Yu-lin at No.4 with US$ billion (NT$168 billion).
The four Wei brothers of Ting Hsin International dropped from No.3 last year to No.5 with US$4.6 billion (NT$148 billion). Over the past years, the group was named in several high-profile food safety scandals.
The cousins of the Fubon Group’s Tsai brothers, who are also named Tsai, finished sixth. They head rival Cathay Financial Holdings.
The only woman on the list, HTC Corporation Chairperson Cher Wang, finished last on the top 50.
The total wealth of all the business people on the list shrank by 13 percent over the last year, Forbes said, blaming the decline on “slowing growth in once-hot China and sluggishness globally.”