Chao Teng-hsiung
$2.6B
Born
Oct 04, 1944
Age
81
Source of Wealth
Real estate
Residence
Taipei,
Citizenship
Taiwan
Marital Status
Married
Children
3
Education
- Chao Teng-hsiung started Farglory Land, one of Taiwan's largest real estate developers, in 1978 and is still its largest shareholder.
- Farglory Land is the flagship unit of Farglory Group, whose interests include financial and retail services, air-cargo logistics and hospitality.
- Chao also controls Farglory FTZ Investment Holding, Farglory Life Insurance and Farglory Hotel.
- Eldest son Wen-Chia, also known as Frank, took over as Farglory Land chairman in 2014 amid a corruption scandal involving Chao.
- In 2022 a Taipei court sentenced Chao to seven years in prison on bribery and corruption charges on the first trial. The second trial is still ongoing.
- Born into poverty in western Taiwan, Chao moved to Taipei in 1966 and did odd jobs. He saved money to supply cement to construction firms.
- Over time he bought property and developed his own projects, starting out with buildings that combined factories and offices.
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