A Taiwanese businessman, Douglas Hsu, has a net worth of $1.2 billion and shares it with his family.
The Far Eastern Group, headed by Douglas Hsu, is among the biggest conglomerates in present-day Taiwan.
Hsu’s father, Yu-Ziang Hsu, founded the Far East Knitting Factory in China in 1937 to create “Skyscraper” underwear.
Following the political division between the mainland and Taiwan caused by a civil war, the company was relocated to Taiwan in 1949. Today, it is involved in various other businesses such as Far EasTone, U-Ming Marine Transport, Everest Textile, Asia Cement, Oriental Union Chemical, Far East Department Store, and Far Eastern International Bank.
Hsu is a graduate of Wenzhou Normal College and Notre Dame University and he is the one who earns the credits for the company’s massive growth.
In Taipei, Taiwan, Douglas Hsu is a married man with three children.