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Fubon Group Chairman Tsai Wan-tsai dies

2014/10/05 17:44:28

Taipei, Oct. 5 (CNA) Fubon Group Chairman Tsai Wan-tsai, one of the richest men in Taiwan, died Sunday noon, Fubon Financial Holdings announce. He was 85.

According to Forbes, Tsai headed a clan that has been one of the most powerful forces in Taiwan's financial industry. Fubon Financial Holdings, the family flagship now led by his sons Daniel and Richard, topped all Taiwan financial holding companies in 2013 in profit, with net income of US$1.1 billion.

Forbes estimated the Tsai family wealth at US$7.9 billion at the end of June, 2014.

(By Tien Yu-bin and S.C. Cang)