Wang Yung-tsai (; 24 January 1921 – 27 November 2014) was the younger brother of

Wang Yung-ching Wang Yung-ching (; 18 January 1917 – 15 October 2008), also called YC Wang, was a Taiwanese businessman. He was best known for being the chairman of Formosa Plastics Corporation, one of Taiwan's foremost plastic manufacturing establishments ...

, founder of

Formosa Plastics Group Formosa Plastics Group (FPG, ) is a titular Taiwanese conglomerate of diverse interests, including biotechnology, petrochemical processing and production of electronics components. The group was founded by Wang Yung-ching and his brother Wang ...

Life and career

He was born in Chyokutan, Shinden Town, Bunsan District,

Taihoku Prefecture Taihoku Prefecture (臺北州; ''Taihoku-shū'') was an administrative division of Taiwan created in 1920, during Japanese rule. The prefecture consisted of modern-day Keelung, New Taipei City, Taipei and Yilan County. Its government office, ...

Japanese Taiwan The island of Taiwan, together with the Penghu Islands, became an annexed territory of the Empire of Japan in 1895, when the Qing dynasty ceded Fujian-Taiwan Province in the Treaty of Shimonoseki after the Japanese victory in the First Sin ...

(modern-day

Xindian District Xindian District () is an inner city District (Taiwan), district in the southern part of New Taipei City, Taiwan. Name Xindian's name originated during the Qing Dynasty close to 300 years ago. According to legend, a person named Lin and others ...

New Taipei New Taipei City is a Special municipality (Taiwan), special municipality located in regions of Taiwan, northern Taiwan. The city is home to an estimated population of 4,004,367 as of January 2023, making it the most populous city in Taiwan, a ...

). Wang began his business career by founding a lumber company in 1948, which he closed ten years later to help run Formosa Plastics. In 1993, Wang was named director of Formosa Plastics'

naphtha Naphtha (, recorded as less common or nonstandard in all dictionaries: ) is a flammable liquid hydrocarbon mixture. Generally, it is a fraction of crude oil, but it can also be produced from natural-gas condensates, petroleum distillates, and ...

cracker, the sixth processing plant of its kind in Taiwan. In 2002, Wang Yung-ching went into retirement, leaving Wang Yung-tsai in control of Formosa Plastics. Both officially retired as chairmen in 2006, handing the conglomerate over to their children. In 2010, Wang Yung-tsai was named #10 wealthiest person in Taiwan by Forbes. By 2014, Wang had dropped two spots to #12.

Personal life

Wang Yung-tsai had three children and a granddaughter named Megan Chen who now goes to TES, and one wife. He was a fan of golf and would often wake up at 5 A.M to play. He died on 27 November 2014 at the age of 93. Wang's funeral was held on 14 December 2014.

References

20th-century Taiwanese businesspeople Taiwanese people of Hoklo descent 1921 births 2014 deaths Taiwanese billionaires Businesspeople from New Taipei 21st-century Taiwanese businesspeople Businesspeople in timber Taiwanese company founders People in the chemical industry {{Taiwan-business-bio-stub