Rank #1137
Albert Chao & family
Net worth $3.8B
Chemicals, building products · United States
- Born
- Jul 15, 1949
- Age
- 76
- Source
- Chemicals, building products
- Residence
- Houston, Texas
- Citizenship
- United States
- Marital status
- Children
- 0
- Education
Net worth over time
Biography
- Albert Chao is estimated to own nearly 25% of Westlake Corporation, one of North America's largest producers of low-density polyethylene, used for food packaging and more.
- His father T.T. Chao moved the family from Taiwan to the U.S. and founded Westlake in 1986. Albert and brother James Chao are credited with helping launch the company.
- Albert was CEO from 2004 to July 2024, when he became executive chairman. James was chairman from 2004 to July 2024, when he became senior chairman.
- James and sister Dorothy Chao Jenkins are also estimated to own nearly 25% of Westlake apiece.
- Dorothy is married to Charles H. Jenkins, Jr., the former chairman of his family's supermarket chain, Publix. She retired as a director of Westlake in 2023.
- Albert's daughter Carolyn Chao Sabat and son John Chao sit on Westlake's board alongside James' daughter Catherine Chao and son David Chao.
Financial assets
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