Terry Gou facts for kids

Quick facts for kids Terry Gou
郭台銘
Gou in 2019
Born	(1950-10-18) 18 October 1950 (age 74) Banqiao, Taipei County, Taiwan
Education	Taipei University of Marine Technology (BS)
Years active	1974–present
Known for	Founder of Foxconn
Political party	Kuomintang (1970–2000; 2019) Independent (2000–2019; 2019–)
Spouse(s)	Serena Lin ​ ​ (m. 1974; died 2005)​ Delia Tseng ​ (m. 2008)​
Children	5
Relatives	Sophie Chang (cousin)

Terry Gou (Chinese: 郭台銘; pinyin: Guō Táimíng; Pe̍h-ōe-jī: Koeh Tâi-bêng; born 18 October 1950) is a Taiwanese billionaire businessman and politician. Gou is the founder and former chairman and chief executive officer of Foxconn, the world's largest contract manufacturer of electronics. Founded in 1974, Foxconn grew to become an international business empire, becoming the largest private employer and exporter in mainland China with a workforce of 1.2 million. As of 2024, Gou had a net worth of US$10.4 billion.

Beginning in 2016, speculation surrounding Gou's political ambitions arose ahead of the 2020 presidential election. In 2019, Gou resigned from Foxconn and joined the Kuomintang (KMT) to run for president, declaring he was instructed by the sea goddess Mazu in a dream to contest the election. Gou ultimately lost the election, coming in second in the Kuomintang primary. After leaving the party following the 2019 primary, Gou rejoined in 2023 and announced his intention to run for president in the 2024 presidential election, but after running as an independent candidate, he ended his campaign in late November 2023.

Once described as an "old friend" by Chinese leader Xi Jinping, Gou has been characterized as friendly to Mainland business interests during his political and business career. In December 2022, Gou was credited with helping to successfully lobby the Xi Jinping Administration to ease zero-COVID rules implemented during the pandemic. On foreign policy, Gou has criticized the Taiwan independence movement and has called for a deescalation of Sino–American tensions. Owing to his business background and image as a political outsider, Gou has been compared in international media to former U.S. president Donald Trump.

Early life

Gou was born in Banqiao Township, Taipei County (now Banqiao District, New Taipei). His parents lived in mainland China's Shanxi Province before the Chinese Civil War and fled to Taiwan in 1949. His father was a policeman who fought on behalf of the Kuomintang during the war.

As the second child of his family, Gou received education from elementary school to post college. After graduation, he continued to work in a rubber factory, working at a grinding wheel, and medicine plant until the age of 24. Gou has an older sister and two younger brothers, Gou Tai-chiang and Tony Gou, who have both become successful businesspeople as well.

Gou fulfilled his national service obligations by joining the Republic of China Air Force as an anti-aircraft artillery officer. As part of the airforce, he was stationed in Kinmen at a time when a potential People's Liberation Army invasion of the island as a stepping stone to invade Taiwan was a real fear. He would be discharged in 1973.

Foxconn

Gou with Brazilian president Dilma Rousseff in 2011

Speaker Paul Ryan, President Donald Trump, Governor Scott Walker, Terry Gou and Christopher Murdock at Foxconn's June 2018 groundbreaking ceremony in Wisconsin

Terry Gou founded Foxconn, established as Hon Hai Precision Industry (鴻海科技集團) in Taiwan in 1974 with $7,500 ($44,000 in 2021 US dollars) in startup money and a workforce of ten elderly employees. The company started off making plastic parts for television sets in a rented shed in Tucheng, a suburb of Taipei. A turning point came in 1980 when he received an order from Atari to make the console joystick.

Gou expanded his business in the 1980s by embarking on an 11-month trip across the US in search of customers. An aggressive salesman, Gou arrived uninvited at many companies' headquarters; often, he won orders despite security being called on him.

In 1988, Gou opened his first factory in Shenzhen where his largest factory remains today. Giu scaled up production by integrating vertically the assembly process and facilities for workers. The manufacturing site became a campus that included housing, dining, medical care and burial for the workers, and even chicken farming to supply the cafeteria.

In 1996, Hon Hai started building chassis for Compaq desktops. This was a breakthrough moment that led to building the bare bones chassis for other high-profile customers, including HP, IBM, and Apple. Within just a few years, Foxconn grew into a consumer electronics giant.

Other business ventures

In 2019, Gou argued that Apple should move its manufacturing out of mainland China to Taiwan. The comments came after he confirmed he will step down from his role as Foxconn chairman.

Gou is also the main owner of HMD Global, which is a company founded in 2016 to sell Nokia branded phones. HMD buys the R&D, manufacturing and distribution from FIH Ltd, which is part of Hon Hai group.

In April 2021, Gou became the biggest shareholder in the biotech company Eirgenix. In December 2022, The Wall Street Journal reported that a letter from Gou helped convince the Chinese government to ease Zero-COVID restrictions amid the COVID-19 pandemic.

Political career

Gou first joined the Kuomintang in 1970, but allowed his membership to lapse after 2000. In the 2012 Taiwan presidential election, Gou endorsed Ma Ying-jeou, stating that Ma was an "experienced, outstanding helmsman." After Donald Trump won the 2016 United States presidential election, Gou was the subject of a spoof open letter in Bloomberg, in which author Tim Culpan was severely critical of Trump. The article was mistakenly reported as having been written by Gou himself.

Political views

An opponent of the Taiwan independence movement, Gou claims the Democratic Progressive Party (DPP) "exalts Taiwan independence and hates and opposes China". His position is that Taiwan independence is not an issue. Instead, he supports the 1992 Consensus under the one-China framework, and has criticized the DPP for political wordplay in their interpretation of the consensus.

In 2019, Gou expressed misgivings about the legalization of same-sex marriage in Taiwan, arguing that the Legislative Yuan did not respect the results of the 2018 referendum where a majority voted against legalization.

2020 presidential election

From 2016, it was widely reported that Gou was considering a 2020 Taiwanese presidential bid, and speculation continued into 2017. He rejoined the Kuomintang in April 2019. On 17 April 2019, Gou announced his intention to run in the Kuomintang primary for the 2020 presidential election.

Gou declared that he had been instructed by the sea goddess Mazu in a dream to run as a candidate in the 2020 presidential election of the Republic of China. He finished second in the 2019 Kuomintang presidential primary, with 27.7% of the vote. On 12 September 2019, Gou announced his withdrawal from the Kuomintang. Four days later, Gou stated that he would not participate in the 2020 presidential election as an independent candidate. Gou was offered the top position on the Taiwan People's Party party list for the 2020 legislative election, but declined such a bid.

2024 presidential election

In April 2023, Gou announced he would run for President in the Taiwanese 2024 general election. Polling conducted in January 2023 found him in second place in a hypothetical KMT primary with Hou Yu-ih, the Mayor of New Taipei, receiving 28.6% of the vote versus Hou's 36.7%. Gou formally declared his independent presidential bid on August 28. On September 2, Foxconn announced that Gou had resigned his position on the board of directors for personal reasons.

On 14 September 2023, Gou announced as his running mate the actress and writer Lai Pei-hsia [zh], also known as Tammy Lai.

Gou officially qualified for the presidential election on 14 November 2023, when the signatures he had collected in order to run as an independent candidate were validated by Taiwan's Central Election Commission. However, on 24 November 2023 he announced he was dropping out of the presidential race, and his name would not appear on the ballot.

Personal life

Gou and his first wife, Serena Lin (Chinese: 林淑如; pinyin: Lín Shúrú; 1950–2005), have a son who works in the film and real estate industries and a daughter who worked in the financial sector. Gou founded an educational charity with Lin in 2000 and intended to eventually give away one third of his wealth to charity. After Gou's wife died, Gou's daughter assumed leadership in the charity.

..... While Gou first agreed to pay the money, when they next met he had police arrest Chen and the private investigator, Hsu Ching-wei, and sued them for extortion, stating he knew the affair would become "exposed one way or another".

In 2002, he bought a Roztěž [cs] castle near Kutná Hora in the Czech Republic for $30 million.

In 2005, Serena Lin died of breast cancer at the age of 55. Gou's younger brother, Tony Gou, died in 2007 of leukemia. ..... Gou married his second wife, choreographer Delia Tseng [zh] (born 1974) on 26 July 2008. Tseng and Gou have three children. Together, they have decided to give 90% of Gou's wealth away.

Wealth

In 2016, Gou's net worth was US$5.6 billion. By August 2017, Forbes listed his net worth at US$10.6 billion. As of 2022, Gou had a net worth of US$6.8 billion, making him the sixth wealthiest person in Taiwan.

See also

In Spanish: Terry Gou Tai Ming para niños