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Oct. 16 (Bloomberg) -- Wang Yung-ching, the son of a tea farmer who transformed a small rice store into Taiwan's largest industrial group, has died.
Wang passed away in his sleep in the U.S. yesterday, Formosa Plastics Corp., his flagship company, said in a stock exchange filing today. Wang, who turned 91 in January, was Taiwan's second-richest person with a net worth of $6.8 billion.
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Associated Press
Taiwan business tycoon Wang Yung-ching dies
updated 7:32 a.m. PT, Thurs., Oct. 16, 2008
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The China Post
President Ma extends condolences to Wang Yung-ching's family
October 16, 2008
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Japan Today
Taiwanese tycoon Wang Yung-ching dies
October 16, 2008
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Xinhua
TAIPEI, Oct. 16 (Xinhua) -- Wang Yung-ching, founder of Taiwan's Formosa Plastics Group, has died in the United States, the group announced here on Thursday.
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Business Week article in August 2008
"Though Taiwan's top industrialist Wang Yung-ching finally handed over to his son the reins of the sprawling petrochemical company Formosa Plastics in 2006, 91-year-old Wang still calls the shots behind the scenes. In July, he braved the blistering heat in Ha Tinh province in northern Vietnam for the ground-breaking ceremony of an $8 billion steel complex that Formosa is building. Wang's is a classic rags-to-riches story: the son of a Taiwanese tea farmer, he started selling rice at 9 years old. Known for his excessive frugality, he considered hot showers an unnecessary luxury until he was well into his 80s."
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