Forbes ranked Wang Yung-ching as the 178th wealthiest individual globally in 2008, assigning him a net worth of US$5.5 billion. Known as Y.C. Wang, he developed a significant industrial presence from his base in Taiwan, eventually leading one of the world's largest plastic manufacturing organizations despite having no formal education beyond the elementary level.
Industrial Expansion and Leadership
Wang served as the chairman of Formosa Plastics Corporation until June 2006, stepping down at the age of 89. His commercial influence extended across several major firms, including Nan Ya Plastics Corporation, Formosa Chemistry & Fibre Corporation, and Cyma Plywood & Lumber Co. Ltd. In 1995, he partnered with Marco Terragni to establish Inteplast, which became the world’s largest producer of Cartonplast. Outside of manufacturing, he oversaw the Ming-chi Institute of Technology and the Chang Gung Medical Foundation.
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Wang fathered ten children across his three marriages to Wang Yueh-lan, Yang Chiao, and Lee Pao-chu, whom he married in 1935. Several of his children achieved significant prominence in the technology sector. His daughter Cher Wang founded HTC and VIA Technologies, later becoming the wealthiest individual in Taiwan with an estimated fortune of $8.8 billion in 2011. Another daughter, Charlene Wang, established First International Computer, while his son Winston Wang co-founded Grace Semiconductor Manufacturing.
Final Years and Posthumous Findings
In his later years, Wang advocated for the Three Links between Taiwan and Mainland China. He died in his sleep at his residence in Short Hills, New Jersey, on October 15, 2008, at the age of 91. Following his passing, family legal disputes surfaced, which led to revelations that he had maintained significant offshore accounts and had participated in extensive tax evasion practices.
Fast facts
- Born: 1917
- Died: 15 October 2008
- Place of birth: Chitan Village, New Taipei City
- Place of death: Short Hills, New Jersey
- Primary business: Formosa Plastics Corporation
- Citizenship: Taiwan, United States
- Total children: 10
Questions readers ask
What was Wang Yung-ching's highest level of formal education?
He completed only elementary school.
When did he retire from Formosa Plastics Corporation?
He stepped down as chairman in June 2006 at the age of 89.
What happened to his position at the Chang Gung Medical Foundation after his death?
His brother Wang Yung-tsai assumed the role, followed by Wang's third wife, Lee Pao-chu.
