Tsai Wan-lin

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]

Tsai Wan-lin
蔡萬霖
Born	10 November 1924 Shinchiku, Taiwan, Empire of Japan
Died	27 September 2004(2004-09-27) (aged 79) Taipei, Taiwan
Nationality	Republic of China
Spouse	Chou Pao-chin
Children	Tsai Hong-tu (son)
Relatives	Tsai Chen-chou (nephew)

In this Chinese name, the family name is Tsai.

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

• List of billionaires

References

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. 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. "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.

External links

• "A decade of wealth". Forbes. 5 July 1999. Retrieved 6 December 2014.