||Mr. Chao Teng-Hsiung rose from extraordinarily humble beginnings in a remote seaside village in Taiwan to become one of his nation’s most prominent citizens. The chairman of the Farglory Group, Mr. Chao oversees a business empire that includes Taiwan’s most valuable publicly-traded real estate development firm and more than 25 other business lines.
As a child, Mr. Chao often walked 10 miles to the county market to sell vegetables from his family’s garden and accompanied his father on fishing expeditions to help ends meet. Mr. Chao entered the work force after middle school, serving as a mud work apprentice. After his service in the Taiwan Army, Mr. Chao left home for Taipei with a suitcase full of rice and $7.50 in his pocket. Slowly, but steadily, he built his fortune by gaining a reputation for quality construction, hard work and integrity.
The Farglory network extends throughout Taiwan, Europe, Mainland China, the United States and the Middle East. Mr. Chao’s companies, which include insurance and financial services, commercial and residential land development and construction, recreation and leisure properties, air cargo logistics, and internet services, boast more than 30,000 corporate clients.
Mr. Chao’s construction company has been recognized worldwide for its utilization of cutting edge technology and environment-friendly practices. A leading voice for improved cross-strait relations with China, Mr. Chao is credited with helping open Taiwan’s real estate market to foreign (especially mainland Chinese) investment and lifting Taiwan’s ban on investments in the mainland.
Despite his annual inclusion in the top tier of Forbes’ listing of Taiwan’s wealthiest individuals, Mr. Chao has never forgotten his impoverished beginnings. His Farglory Foundation and Farglory Healthier Living Foundation have contributed millions of dollars for the education of the poor, medical research and treatment of the sick, and care for children.