Eugene Wu (; born 1945) is a Taiwanese business executive. He led the

Shin Kong Group The Shin Kong Group () is a large enterprise group in Taiwan, the group traces its origin back to the establishment of the Shin Kong Store in 1945 by group founder . The Shin Kong Store was engaged in the trading of fabrics and the import and e ...

and several affiliated subsidiaries.

Early life

Eugene Wu was born one of six children to and Wu Kuei-lan, and is the eldest of his brothers, which include

Eric The given name Eric, Erich, Erikk, Erik, Erick, or Eirik is derived from the Old Norse name ''Eiríkr'' (or ''Eríkr'' in Old East Norse due to monophthongization). The first element, ''ei-'' may be derived from the older Proto-Norse ''* ain ...

and

Thomas Thomas may refer to: People * List of people with given name Thomas * Thomas (name) * Thomas (surname) * Saint Thomas (disambiguation) * Thomas Aquinas (1225–1274) Italian Dominican friar, philosopher, and Doctor of the Church * Thomas the A ...

, as well as . Eugene's eldest sister is Wu Ju-yueh. Wu earned a bachelor's degree from

Waseda University , mottoeng = Independence of scholarship , established = 21 October 1882 , type = Private , endowment = , president = Aiji Tanaka , city = Shinjuku , state = Tokyo , country = Japan , students = 47,959 , undergrad = 39,382 , postgrad ...

Career

After his father's death in 1986, Eugene Wu assumed control of several of his father's holdings. Eugene partnered with construction magnate James Lin to build many buildings owned by the

. In June 2002, Thomas Wu proposed a merger between his Taishin Financial Holdings and Eugene's Shin Kong Financial Holding. After eight days of formal consideration, Thomas withdrew the offer. In August 2005, Eugene was indicted by the Taipei District Prosecutors' Office on charges of insider trading, a violation of the Securities and Exchange Law related to the failed merger of 2002. That October, Shin Kong Financial completed a merger with Macoto Bank to form . That same year, Wu was targeted by the Financial Holding Company Act announced by the Financial Supervisory Commission, which made it illegal for top executives at financial holding companies to hold equivalent leadership positions at other non-financial businesses. In 2006, Wu expressed an interest in forming a partnership with a financial institution that had international reach. Later that year, Wu's increased its investment in Shin Kong Bank. Wu also considered acquiring . In his later career, Eugene Wu focused on the acquisition and sale of real estate on behalf of . Notable investments include office space in the Neihu Science Park and in London. As Shin Kong Life fell into debt, Shing Kong Group has sold buildings within the

Shin Kong Mitsukoshi is an international department store chain with headquarters in Tokyo, Japan. It is a subsidiary of Isetan Mitsukoshi Holdings, which also owns the Isetan department store chain. History It was founded in 1673 with the (shop name) , sell ...

joint venture, home to the in Taiwan. Eugene Wu announced in June 2020 that he was stepping down from his position as chair of Shin Kong Financial. Wu was suspended from his post as chairman of Shin Kong Life Insurance on 15 September 2020, by the Financial Supervisory Commission. The company was fined for a reckless investment, and Wu was suspended for poor supervision. Wu is not permitted to rejoin the company board until his current term ends in June 2023.

Personal life

Wu has spoken favorably regarding the economic influence of China on Taiwan. He attended an annual forum organized by China's

Taiwan Affairs Office The Taiwan Affairs Office of the State Council is an administrative agency under the State Council of Mainland China. It is responsible for setting and implementing guidelines and policies related to the Republic of China (Taiwan), as stipul ...

in 2004. Wu has served the Formosa Foundation as a board member and the General Association of Chinese Culture as an executive member. '' Fortune'' valued Wu's net worth at $1.8 billion in 1992. Wu was ranked on ''

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...

'' list of Taiwanese billionaires in 2006, with a net worth of $1.9 billion. By 2008, his net worth had risen to $2.3 billion, ranked eleventh. Forbes reported that Wu lost one billion of his net worth in the 2009 rankings, placing twelfth in Taiwan. In 2010, Wu's fortune was valued at $1.5 billion, and ranked fourteenth. The next year, according to ''Forbes'', Wu's net worth had recovered to a total of $2.2 billion, and he was listed thirteenth on the list of Taiwanese billionaires. The 2017 ''Forbes'' rankings slid Wu to forty-first, with his fortune valued at $1.1 billion. The 2020 list ranked Wu the thirty-seventh richest Taiwanese billionaire, and valued his net worth at $1.2 billion. Wu is married to Hsu Hsien-hsien, the daughter of banker and politician

Hsu Sheng-fa Hsu Sheng-fa (; 24 January 1925 – 17 April 2021) was a Taiwanese businessman and politician. He served on the Legislative Yuan as a member of the Kuomintang from 1981 to 1990. Hsu was born in 1925 in Japanese Taiwan. He founded Prince Motors ...

. Wu and his wife raised three children. His eldest daughter, Cynthia Wu, married , an executive at Hua Nan Securities, in 2010. His middle child is Wu Hsin-ju. Wu's youngest child and only son is Wu Yi-tung. Wu acquired the gorilla later named Bao Bao after he was smuggled to Taiwan in 1987, and donated the primate to the

Taipei Zoo The Taipei Zoo, sometimes referred to as the "Muzha Zoo", is a public zoological garden in Wenshan District, Taipei, Taiwan. It is the most famous zoological garden in Taiwan and a leader in conservation, research and education, and recreation. ...

References

{{DEFAULTSORT:Wu, Eugene 1945 births Living people 20th-century Taiwanese businesspeople 21st-century Taiwanese businesspeople Businesspeople in insurance Taiwanese bankers Taiwanese billionaires Taiwanese business executives Waseda University alumni