Terry Gou Net Worth, Age, Family & Biography $7.10B Real Time Net Worth #327 in the world today

Avan Parvadiya — Wed, 31 May 2023 03:55:45 +0000

About Terry Gou

Terry Gou is a Taiwanese billionaire businessman and legislator. Foxconn, the largest contract electronics manufacturer in the world, was founded by Gou, who also served as chairman and chief executive officer. With a workforce of 1.2 million, Foxconn, which was established in 1974, grew into an international business empire and became the largest private employer and exporter in mainland China.

Before the 2020 presidential election, rumours about Gou’s political ambitions began to circulate in 2016. Gou said that he was told to run for president by the sea goddess Mazu in a dream in 2019 and quit Foxconn and joined the Kuomintang (KMT) to do so. Gou finished second in the Kuomintang primary, but he ultimately lost the election. Gou returned to the party in 2023 and announced his intention to run for president in the 2024 presidential election after leaving the party following the primary in 2019.

U.S. President Donald Trump shakes hands with Foxconn Chairman Terry Gou during a groundbreaking at Foxconn’s new site in Mount Pleasant, Wis., June 28, 2018.

Terry Gou Career

Terry Gou was born on October 18, 1950, in Taipei County’s Banqiao Township. His folks lived in the central area of China’s Shanxi Territory before the Chinese Nationwide conflict and escaped to Taiwan in 1949. His father was a policeman who served in the war for the Kuomintang. Gou, the second child in his family, attended elementary school through college. He continued working at a grinding wheel in a rubber factory after graduation and in a medicine plant until he was 24 years old.

Terry Gou established Foxconn, laid out as Hon Hai Accuracy Industry in Taiwan in 1974 with $7,500 ($44,000 in 2021 US dollars) in startup cash and a labour force of ten old representatives. In a shed that was rented in Tucheng, a Taipei suburb, the business started out making television parts out of plastic. A defining moment came in 1980 when he got a request from Atari to make the control centre joystick.

He further extended his business during the 1980s by leaving on an 11-month trip across the US looking for clients. Gou was an aggressive salesman who broke the rules by sneaking into the headquarters of many businesses without being invited. He was able to get more orders despite having security called on him multiple times. He opened his first factory in mainland China in 1988, in Shenzhen, which is still his largest facility today. When Gou vertically integrated the assembly process and facilities for workers, operations in China significantly expanded.

Terry Gou Facts

In 2016, it was broadly detailed that Gou was thinking about a 2020 Taiwanese official bid, and the theory went on into 2017. In April 2019, he rejoined the Kuomintang. On 17 April 2019, Gou declared his aim to run in the Kuomintang essential for the 2020 official political race.

Foxconn CEO Terry Gou (L) and Wisconsin Gov. Scott Walter talk before the groundbreaking of the Foxconn Technology Group computer screen plant on June 28, 2018 in Mt Pleasant, Wisconsin. U.S. President Donald Trump was scheduled to attend the event with Foxconn, which has committed to build a $10 billion plant in what it has named the Wisconn Valley Science and Technology Park, and to creating 13,000 Wisconsin jobs.