User:Vycl1994/Chao Teng-hsiung

Chao Teng-hsiung (born 4 October 1944) is a Taiwanese real estate developer.

Career
Chao was born to a Hakka family in Houlong, Miaoli, in 1944. As a child, Chao helped his father fish and worked on the family farm before his apprenticeship as a plasterer and cement mixer, aged 15. Two years later, Chao helped build a temple to the goddess Matsu. He moved to Taipei in 1966, taking menial jobs until he had saved up enough money. Chao then became a supplier of cement and a subcontractor. Subsequently, Chao founded the Far East Construction Group, predecessor to the Far Glory Group, in 1969. In the early 2000s, Chao chaired the Federation of the Real Estate Development Association. Chao began investing in Chinese real estate in 2001.

Personal life
Chao has spoken favorably regarding Chinese investment in Taiwanese real estate.

His net worth as valued by Forbes was US$1.8 billion in 2008, ranking thirteenth on the Taiwan Rich List. He placed eleventh on the same list the next year, though his wealth had dropped to US$1.4 billion. In 2010, Chao's net worth decreased to US$1.4 billion, and his rank dropped to fifteenth. He made his first appearance on The World's Billionaires. Despite an increase in net worth in 2011, to US$1.7 billion, he remained fifteenth on the Taiwan Rich List.