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]

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]