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Tsai Wan-lin

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Tsai Wan-lin
蔡萬霖
Born10 November 1924
Shinchiku, Taiwan, Empire of Japan
Died27 September 2004(2004-09-27) (aged 79)
Taipei, Taiwan
NationalityRepublic of China
SpouseChou Pao-chin
ChildrenTsai Hong-tu (son)
RelativesTsai Chen-chou (nephew)
In this Chinese name, the family name is Tsai.

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]

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

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References

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  1. ^ "The billionaires' list". The Free Lance-Star. Google News. July 1, 1996. Retrieved 6 December 2014.
  2. ^ "Bill Gates still richest, but Asian tycoons getting closer". Observer-Reporter. Google News. 1 July 1996. Retrieved 6 December 2014.
  3. ^ "PASSINGS Tsai Wan-lin, 80; Tycoon Was the Wealthiest Man in Taiwan". Los Angeles Times. 29 September 2004. Retrieved 6 December 2014.
  4. ^ "Who will replace Tsai Wan-lin as Taiwan's wealthiest person?". China Economic News Service. 29 September 2004. Retrieved 6 December 2014.
  5. ^ a b Lin, Jackie; Chen, Kevin (29 September 2004). "Tsai led family to dominate nation's finance business". Taipei Times. Retrieved 6 December 2014.
  6. ^ Huang, Annie (November 4, 1988). "Taiwan's Rags-To-Riches Billionaire Shuns Publicity". Associated Press. Retrieved 7 July 2019.
  7. ^ a b "Tsai family may face huge heritage tax burden". China Post. 29 September 2004. Retrieved 6 December 2014.
  8. ^ "Tsai Wan-lin, the Richest Man in Taiwan, Dies". New York Times. 29 September 2004. Retrieved 6 December 2014.
  9. ^ 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.
  10. ^ "Tsai Wan-lin". Chicago Tribune. 29 September 2004. Retrieved 6 December 2014.
  11. ^ Flannery, Russell (28 May 2001). "Citigroup's Secret Weapons". Forbes. Retrieved 6 December 2014.
  12. ^ Flannery, Russell (3 July 2009). "Oh, Brother". Forbes. Retrieved 6 December 2014.
  13. ^ "Nation's richest man dies at 79 after long illness". Taipei Times. 29 September 2004. Retrieved 6 December 2014.
  14. ^ "Taiwan's top billionaire dies at 81". United Press International. 29 September 2004. Retrieved 10 September 2018.
  15. ^ "Tsai Wan-lin". The Daily Telegraph. 14 October 2004. Retrieved 6 December 2014.
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