⬅ # 596 Dietmar Hopp|# 598 Dagmar Dolby

# 597 Richard Tsai 

$5.24B

Real Time Net Worth
as of 6/12/2024
-$65.4M (-1.25%)

# 597 Richard Tsai 

$5.24B

Real Time Net Worth
as of 6/12/2024
-$65.4M (-1.25%)
OccupationCo-CEO, Fubon Financial Holding Co.
Source of WealthFinance
Age67
ResidenceTaipei, Taiwan
Marital StatusMarried
Children2
EducationMBA, Leonard N. Stern School of Business; Graduate, National Taiwan University
Age-Adjusted Net Worth$3.27B
Richard Tsai
Richard Tsai
Taiwan
Net worth: $5.24B

Self-Made Score 

Wealth History

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Biography

Overview

Richard Tsai, born in 1957 or 1958, is a Taiwanese billionaire businessman known for his leadership role in Fubon Financial Holding Co., founded by his father Tsai Wan-tsai.
With his brother Daniel Tsai, he leads Fubon Financial Holding, a family company with interests in banking, insurance, and securities.
They are investors in Taiwan Mobile and Momo, and own a stake in Diamond Biofund, a Taipei-based biotech venture capital firm that went public in 2023.

Biographical Information

Richard Tsai resides in Taipei, Taiwan.
He is married and has two children.

Career and Business Ventures

Richard Tsai and his brother Daniel run Fubon Financial Holding Co., Ltd., which was established on December 19, 2001.
Fubon Financial Holding Co. encompasses key subsidiaries including Fubon Asset Management, Fubon Insurance Co. Ltd., Fubon Securities, and Fubon Bank.
In September 2003, Fubon acquired roughly 55% of International Bank of Asia from Arab Banking at a price of NT$19 billion.
The acquisition of Jih Sun Financial Holding by Fubon was approved by shareholders of both companies in November 2021.

Investments and Business Interests

Richard Tsai and his brother Daniel are investors in Taiwan Mobile, a mobile phone service provider.
They are also investors in Momo, a TV-shopping and ecommerce business.
The Tsai brothers own a stake in Diamond Biofund, a Taipei-based biotech venture capital firm that went public in 2023.

How long would it take you to become as rich as Richard Tsai?

If you started with $10,000 and invested an additional $500 each month at a 43.94% CAGR, it would take you 5 years to reach Richard Tsai's net worth of $5.24B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 43.45% compared to 12.43% for the S&P 500 benchmark.

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Richard Tsai is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Richard Tsai, Finance is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey