Terry Gou is a well-known Taiwanese billionaire who is the boss of Foxconn, which was formerly known as Hon Hai. The company became a global multinational electronics contract manufacturing company with a huge presence and influence in the world of electronics and semiconductor.
Hailed as the “Donald Trump of Taiwan”, Terry has a huge wealth and influential business empires just like the former US President. As founder and chairman of Hon Hai, Terry has an inspirational life due to the fact that he could succeed in life through hard work and dedication. Foxconn today is the world’s largest contract electronics manufacturer that is associated with many high profile companies like Apple, Nokia and Nintendo. The iPhone and iPad are 2 of Apple’s signature products that have credited some success stories to Foxconn, which operates assembling factories in Mainland China to manufacture them.
Having amassed a net worth of $10.6 billion, Terry is Taiwan’s third richest person. He is influential in the Taiwan Strait and is one of the most powerful man in the business community of Taiwan. Hon Hai started off in 1974 as a manufacturer of plastic parts for television sets in Taiwan. It operated out of a rented shed in a suburb of Taipei.
Like many businesses in life, Terry managed to sail through his first few years. But his big break came in 1980 when Atari sent him an order to make a joystick for the console. In that decade that followed, he made expansion of Hon Hai with a trip across the USA for about a year to search for prospective customers. As he was aggressive in his approach there, he had managed to gain additional orders to Hon Hai. He did it despite being stopped by security many times.
His first factory in Mainland China was opened in 1988. It was opened in Shenzhen where his biggest factory stands remained here. Terry increased Hon Hai’s scale in operations in China by vertically integrating the assembly processes and facilities to manage workers. The factory was also an inclusive campus for workers that also encompasses housing, medical care, dining and even chicken farming.
In the 1990s, Terry and Hon Hai began construction of chassis for Compaq desktops. A breakthrough in computer manufacturing, this moment led to more chassis building for other companies of high profile. They include IBM, HP and Apple. In only a few years, Foxconn had evolved into a giant in consumer electronics. This is an Asian pride certainly.
The hard work and dedication paid off over decades. Terry’s net worth was US$5.6 billion in 2016 and by August 2017, his net worth was listed at US$10.6 billion by Forbes.
Terry remains committed to Foxconn’s project in America. In the state of Wisconsin, this American project is a huge investment. The manufacturing plans have been affected by the COVID-19 pandemic also. About US$750 million has been invested by Terry and Foxconn to enable southeastern Wisconsin to transform into a high-tech hub. Terry mentioned that the project was part of a bigger US$10 billion investment plan that includes a NT$500 million plan to build the Wisconn Valley Science Technology Park in Mount Pleasant.