The Petrochemical Giant
Wang Yung-Tsai is a Taiwanese businessman who enjoys an estimated net worth of $3.1 billion. He is the younger brother of Y.C.Wang, the entrepreneur who enjoys a legendary status in Taiwan.
In 1954 the two brothers transformed the Formosa Plastics Group into one of the largest petrochemical manufacturers in Asia. The elder brother passed away in 2008 without any will and the younger brother took over.
Wang served the company for more than 60 years but he never assumed the position of the Chairman in the group. He has now retired from the company and does not hold an executive position in any of the subsidiary companies of the group. Wang’s son now heads the business.
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