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# 430 Terry Gou $4.76B

Random fact: Pays bonuses to his executives through dividends from his shares.

Overview

Gou is the chairman and largest shareholder of Foxconn Technology Group, the world’s biggest contract assembler of consumer electronics. The Taipei-based company reported revenue of NT$4.7 trillion ($155 billion) in 2017. Its manufactures components for Kindles, PlayStations as well as Apple's iPhone and iPad.

As of :
Last change -$90.1M ( -1.9%)
YTD change +$128M ( +2.8%)
Industry Industrial
Biggest asset Cash
Citizenship Taiwan
Age 69
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Terry Gou's net worth of $4.76B can buy ...

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troy ounces of gold
0
barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Gou's wealth is derived from Hon Hai Precision Industry Co, the publicly traded division of Foxconn Technology Group, He owns about 9.6 percent of the company, according to the Taiwan Stock Exchange website in March 2018. More than 70 percent of these shares are pledged and excluded from the net worth calculation.

Foxconn is the world's largest contract assembler of consumer electronics. Its customers include Apple, Sony, Dell and Microsoft and it has factories and subsidiaries in China, Taiwan, Japan, Southeast Asia, U.S. and Europe.

Gou has a 5.1 percent stake in Sharp Corporation, according to the company's quarterly report ended on Sept. 31, 2018.

He also holds a 39 percent stake in closely held Sakai Display Products Corp. Gou and his company Hon Hai Precision paid about $617 million in 2012 and $147 million in 2016 to acquire the stake, according to Bloomberg News reports at the time. The value of the stake is based on the 2016 purchase price and excludes the part held through publicly-traded Hon Hai Precision.

The value of his cash investments is based on an analysis of dividends, insider transactions, taxes and market performance.

Wen-min Chu, a spokesman for Foxconn Technology Group, declined to comment on his net worth.

Biography

Birthdate: 10/8/1950
Family: Married, 4 children
Education: Taipei College of Maritime Technology

Guo was born in 1950, the oldest of three boys in his family. Gou's father had fought with the Kuomintang army in China's civil war and fled along with Chiang Kai-shek to Taiwan in 1949.

At age 23, when Gou was working as a shipping clerk, he gained a firsthand view of Taiwan’s booming export economy and decided to stop pushing paper and start his own business. With a $7,500 loan from his mother, he bought a couple of plastic molding machines and started making channel-changing knobs for black-and-white televisions in 1974. His first major customer was Chicago-based Admiral TV, and he soon got deals to supply RCA, Zenith and Philips (PHG).

Gou (pronounced Gwo) made his first push into the U.S., visiting 32 states in 11 months in the early 1980s. He dropped in on companies unannounced, like a door-to-door salesman, arriving in a “big and safe” Lincoln Town Car he rented in every city. In Raleigh, North Carolina, he booked himself into a motel close to an IBM facility. After three days of hanging around, he got an appointment and came away with a company order for connectors.

After setting up a subsidiary in the U.S. and creating the "Foxconn" brand, Gou opened a factory in Shenzhen, China, as the country was opening up its economy. He paid workers $30 a month, offered them housing and gave them a free breakfast each day, including one egg per person when few people in China could afford them.

Gou sold Hon Hai Precision shares on the Taiwan Stock Exchange in 1991 to fund his expansion mostly into China. Foxconn currently has more than 100 factories and subsidiaries located in China, Taiwan, Japan, Southeast Asia, the U.S. and Europe and it counts almost all the major technology brands as its clients, including IBM Corp., Cisco Systems, Microsoft, Nokia, Sony, Hewlett-Packard and Apple. Foxconn accounted for 5.9 percent of the total trade volume of China in 2011.

In China, 11 workers committed suicide, mostly by leaping off company-owned high-rise dormitories, prompting intense scrutiny of labor conditions by customers, labor activists, the media and the Chinese government in 2010. To combat the negative publicity, Foxconn raised wages, set up counseling centers and even set up nets around its buildings to catch jumpers.

Gou has been married twice. His second wife is Delia Tseng, a dance instructor 24 years his junior who was hired to prepare him for the company’s annual Chinese New Year party, in which he would perform the tango with Taiwanese model Lin Chi-ling. His first wife Serena Lin died of breast cancer on March 12, 2005.

Milestones
  • 1950 Born in Banqiao District, New Taipei.
  • 1966 Attends Taipei College of Maritime Technology.
  • 1971 Starts first job working for a shipping company.
  • 1974 Co-founds a factory making plastic knobs for TV sets.
  • 1982 Changes company name to Hon Hai Precision Industry.
  • 1985 Establishes U.S. subsidiary and creates Foxconn brand.
  • 1991 Hon Hai becomes a public company in Taiwan.
  • 2002 Opens European headquarters in the Czech Republic.
  • 2005 Foxconn International holds initial public offering in Hong Kong.
  • 2010 Eleven of Foxconn's workers commit suicide.
  • 2012 Buys 8.9% stake in camera maker GoPro
  • 2016 Acquires Japan's Sharp Corp. for $3.5 billion