Terry Gou
Founder and former Chief Executive Officer of Foxconn
From Wikipedia, the free encyclopedia
Terry Guo (Chinese: 郭台銘; pinyin: Guō Táimíng; Pe̍h-ōe-jī: Koeh Tâi-bêng; born 18 October 1950) is a Taiwanese billionaire businessman and politician. Guo is the founder and former chairman and chief executive officer (CEO) of Foxconn, the world's largest contract manufacturer of electronics.[1] Foxconn's English web site renders his surname as Gou.[2] Founded in 1974, Foxconn grew to become an international business empire, becoming the largest private employer and exporter in Taiwan with a workforce of 1.2 million.[3] As of 2024, Guo has a net worth of US$10.4 billion.[4]
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Terry Guo | |
|---|---|
郭台銘 | |
Guo in 2019 | |
| Born | 18 October 1950 Banqiao, 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–) |
| Spouses | Serena Lin
(m. 1974; died 2005)Delia Tseng (m. 2008) |
| Children | 5 |
| Relatives | Sophie Chang (cousin) |
| Signature | |
 | |
Beginning in 2016, speculation surrounding Guo's political ambitions arose ahead of the 2020 presidential election.[5][6][7][8] In 2019, Guo 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.[9] Guo ultimately lost the election, coming in second in the Kuomintang primary.[10] After leaving the party following the 2019 primary, Guo rejoined in 2023 and announced his intention to run for president in the 2024 presidential election,[11] but after running as an independent candidate, he ended his campaign in late November 2023.[12]
Once described as an "old friend" by CCP general secretary Xi Jinping, Guo has been characterized as friendly to mainland business interests during his political and business career.[13][14] In December 2022, Guo was credited with helping to successfully lobby the Xi Jinping Administration to ease zero-COVID rules implemented during the pandemic.[15] On foreign policy, Guo has criticized the Taiwan independence movement and has called for a de-escalation of Sino–American tensions.[16] Owing to his business background and image as a political outsider, Guo has been compared in international media to U.S. president Donald Trump.[17][18][19]
Early life
Guo was born in Banqiao Township, Taipei County (Banqiao District, New Taipei). His parents lived in mainland China's Shanxi Province before the Chinese Civil War and fled to Taiwan in 1949.[20] His father was a policeman who fought on behalf of the Kuomintang during the war.[19]
As the second child of his family, Guo received education from elementary school to post college. He graduated from Taipei University of Marine Technology. After graduation, he continued to work in a rubber factory, working at a grinding wheel, and medicine plant until the age of 24. Guo has an older sister and two younger brothers, Gou Tai-chiang and Tony Gou, who have both become successful businesspeople as well.
Guo fulfilled his national service obligations by joining the Republic of China Air Force as an anti-aircraft artillery officer.[21] 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.[22] He would be discharged in 1973.[23]
Foxconn
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Terry Guo founded Foxconn, established as Hon Hai Precision Industry (鴻海科技集團) in Taiwan in 1974[24] 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.[25] A turning point came in 1980 when he received an order from Atari to make the console joystick.[25]
Guo expanded his business in the 1980s by embarking on an 11-month trip across the US in search of customers. An aggressive salesman, Guo arrived uninvited at many companies' headquarters; often, he won orders despite security being called on him.[25]
In 1988, Guo opened his first factory in Shenzhen where his largest factory remains. Guo 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.[25]
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.[25]
Other business ventures
In 2019, Guo 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.[26][27]
Guo 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, Guo became the biggest shareholder in the biotech company Eirgenix.[28] In December 2022, The Wall Street Journal reported that a letter from Guo helped convince the Chinese government to ease Zero-COVID restrictions amid the COVID-19 pandemic.[15]
Political career
Guo first joined the Kuomintang in 1970, but allowed his membership to lapse after 2000.[29] In the 2012 Taiwan presidential election, Guo endorsed Ma Ying-jeou,[30][31] stating that Ma was an "experienced, outstanding helmsman."[32] After Donald Trump won the 2016 United States presidential election, Guo was the subject of a spoof open letter in Bloomberg, in which author Tim Culpan was severely critical of Trump.[33] The article was mistakenly reported as having been written by Guo himself.[34]
Political views
An opponent of the Taiwan independence movement, Guo claims the Democratic Progressive Party (DPP) "exalts Taiwan independence and hates and opposes China".[16] His position is that Taiwan independence is not an issue.[35] Instead, he supports the 1992 Consensus under the one-China framework,[36][37] and has criticized the DPP for political wordplay in their interpretation of the consensus.[38]
In 2019, Guo 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.[39]
2020 presidential election
From 2016, it was widely reported that Guo was considering a 2020 Taiwanese presidential bid,[5][6] and speculation continued into 2017.[7][8] He rejoined the Kuomintang in April 2019.[40] On 17 April 2019, Guo announced his intention to run in the Kuomintang primary for the 2020 presidential election.[41][42]
Guo 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.[9] He finished second in the 2019 Kuomintang presidential primary, with 27.7% of the vote. On 12 September 2019, Guo announced his withdrawal from the Kuomintang.[10][43] Four days later, Guo stated that he would not participate in the 2020 presidential election as an independent candidate.[44][45] Guo was offered the top position on the Taiwan People's Party party list for the 2020 legislative election, but declined such a bid.[46]
| 2019 Kuomintang Republic of China presidential primary results | ||||
|---|---|---|---|---|
| Candidates | Place | Result | ||
| Han Kuo-yu | Nominated | 44.81% | ||
| Terry Guo | 2nd | 27.73% | ||
| Eric Chu | 3rd | 17.90% | ||
| Chou Hsi-wei | 4th | 6.02% | ||
| Chang Ya-chung | 5th | 3.54% | ||
2024 presidential election
In April 2023, Guo announced he would run for President in the Taiwanese 2024 general election.[11] 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%.[47] Guo formally declared his independent presidential bid on August 28.[48] On September 2, Foxconn announced that Guo had resigned his position on the board of directors for personal reasons.[49]
On 14 September 2023, Guo announced as his running mate the actress and writer Lai Pei-hsia, also known as Tammy Lai.[50]
Guo 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.[51] However, on 24 November 2023 he announced he was dropping out of the presidential race, and his name would not appear on the ballot.[52]
Public image
As a billionaire businessman and relative political outsider, Guo was compared to Trump in international media during his 2019 presidential candidacy.[17][18][19]
In 2007, Guo cited Genghis Khan as a personal hero.[53][54] Guo reportedly wears on his right wrist a beaded bracelet procured at a temple dedicated to the Genghis Khan.[55][53]
"Animal" management comment controversy
In 2012, a controversy arose after Guo jokingly compared Foxconn's workforce to animals during a company event at the Taipei zoo.[56][57] The Xinhua News Agency reported that while speaking on the challenges of presiding over a workforce with over one million employees, Guo stated that as "human beings are also animals, to manage one million animals gives me a headache."[58]
Foxconn defended Guo's comments, stating that "Mr. Gou did say that, since all humans are members of the animal kingdom, it might be possible to learn from [the Director of the Taipei Zoo, Chin Shih-chien] Mr. Chin’s experience as his team looks for lessons that can be applied to business." Moreover, Foxconn clarified that Guo's comments were not discriminatory, explaining that "Mr. Gou’s comments were directed at all humans and not at any specific group".[59]
Anti-Korean comment
In June 2012, Guo stated that he had "great esteem for Japanese (businessmen), especially those who are able to disagree with you in person and not stab you in the back, unlike the Gaoli bangzi". Gaoli bangzi is a racial slur for Korean people.[60]
Personal life
Guo and his first wife, Serena Lin (林淑如; 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.[61] Guo founded an educational charity with Lin in 2000 and intended to eventually give away one third of his wealth to charity.[3] After Guo's wife died, Guo's daughter assumed leadership in the charity.[61]
In the 1990s, Guo had an extramarital affair with Chen Chung-mei, a bar girl, who had a private investigator videotape her and Guo having sex in order to blackmail Guo for money. While Guo 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".[62]
In 2002, he bought a Roztěž castle near Kutná Hora in the Czech Republic for $30 million.[63]
In 2005, Serena Lin died of breast cancer at the age of 55.[25][64] Guo's younger brother, Tony Gou, died in 2007 of leukemia.[65][66] Also that year, Hsu Ching-wei accused Guo of having an affair during the 1990s.[67]
In 2007, Guo publicly pursued movie star Carina Lau. He confirmed to the media that their relationship had “just started” and that he was “serious” about her, greatly raising his public profile and marking the beginning of his emergence as a media personality. Lau responded by saying that Tony Leung, her long-time partner, was aware of the courtship. The relationship was ended by Lau.[68][69]
Guo married his second wife, choreographer Delia Tseng (born 1974) on 26 July 2008.[70] Tseng and Guo have three children.[71] Together, they have decided to give 90% of Guo's wealth away.[61]
Wealth
In 2016, Guo's net worth was US$5.6 billion.[72] By August 2017, Forbes listed his net worth at US$10.6 billion.[73] As of 2022, Guo had a net worth of US$6.8 billion, making him the sixth wealthiest person in Taiwan.[4]
