Wei Ying-Chiao Biography & Net Worth
Wei Ying-Chiao Biography & Net Worth
|Popular Name:||Wei Ying-Chiao|
|Real Name:||Wei Ying-Chiao|
Changhua County, central Taiwan
|Profession:||Businessman, Investor, Entrepreneur|
|Net Worth:||$2.1 Billion|
Wei Ying-Chiao is a successful businessman and entrepreneur. He started a fresh business with his three brothers and saw their investment flourish over the years to emerge as one of the most profitable ventures in China. According to a recent Forbes publication, Wei is ranked as the 948th richest businessman in the world. His value has been rising in recent years thanks to his booming business in the food and beverages industry.
Early Life: Childhood, Education
Wei Ying-Chiao was born in Changhua County, central Taiwan. He has three brothers, all of whom were raised in Taiwan together, forming an unbreakable bond that lasted throughout their lifetime. He never went to college, and there’s no existing record of his educational history
Professional Life: Business Career
Wei and his brothers started Tingyi, a beverage-making company based in the Cayman Islands. Tingyi produces things like instant noodles, packaged water, and a popular ready-made tea.
In 2014, Tingyi entered into a lucrative deal with Shanghai Disney Resort, which chose the beverage company as one of the major suppliers of drinks at the resort. This move boosted sales for Tingyi and provided the brothers with monumental gains.
Wei and his siblings also control the popular food chain brand known as Dicos, based in Taipei. The four men have also invested heavily in the real estate industry. One of such real estate investments is Taipei 101, a structure that is famed for being the tallest building on the island. Wei and his three brothers – Yin-Heng, Yin-Chun, and Ying-Chou — started Tingyi in 1991. Their company, Tingyi, is now a top producer of an assortment of things in China, and it supplies more than half of the Asian country’s instant-noodle demand. The Dicos fried chicken chain is also controlled by the brothers. It was reported that in July 2018, the siblings, through their private company, Ting Hsin, sold its 37.17 percent stake in Taiwan’s tallest building known as Taipei 101, to Itochu for $665 million.
About the Company
Tingyi (Cayman Islands) Holding Corp. is an investment holding company that operates through business segments like beverages, instant noodles, and others. They have expanded to include other segments including investment holding, properties investment, rental, logistics, and support functions. The company was established in 1992 and is based in the Cayman Islands.
Tingyi is the holding company of Master Kong, a brand that is regarded as the leading manufacturer of instant noodles in China. Founded in 1991, Master Kong is a branded company based in Shanghai and Tianjin. It specializes in the manufacture and distribution of cakes, beverages, instant noodles, and relevant supporting industries. The company was listed in Hong Kong in 1996 and is currently a constituent of the Hang Seng China 100 Index and MSCI China Index.
In 2019, Master Kong recorded revenue of roughly 62 billion yuan, a year-on-year increase of 2.13 percent, and achieved a profit of more than 3 billion yuan, a year-on-year increase of 35.22 percent.
According to a representative of the brand, the sales volume of their noodles in 2019 accounted for 43.3 percent of the entire market shares. According to another source, Master Kong’s juice, in 2019, ranked second in juice market shares. Meanwhile, the reach of Master Kong RTD tea topped at 38 percent, ten percentage points higher than the second-placed brand.
In November 2011, Master Kong collaborated with PepsiCo and established a strategic agreement for the manufacture and marketing of all non-alcoholic beverages in China. In March 2015, Master Kong and Starbucks entered into a cooperation contract for the manufacture and marketing of Starbucks canned and bottled ready-to-drink products in China. Master Kong was listed in the national brand venture of Xinhua News Agency in June 2018.
The company was established back in 1991 in Tianjin, by the Wei brothers, and started trading on the Hong Kong Stock Exchange by 1996. It is an entirely owned subsidiary of the Ting Hsin International Group.
Personal Life: Wife, Children
Wei is a married man and father of two children. He resides in Taipei, China, with his wife and their children.
Wei Ying-Chiao Net Worth: Salary, Income Sources, Assets
The Chinese businessman and industrialist, Wei Ying-Chiao, is listed as one of the richest men in China. He is one of the four siblings who established what has become one of the biggest brands in China.
Apart from their accomplishments with the beverage maker Tingyi, which manufactures instant noodles, packaged water, and ready-made tea, the Wei and his brothers also record huge profits from investing in the real estate industry and also from their family-owned fried chicken chain Dicos. The company has had negative publicity due to a food safety controversy in which Wei Ying-Chiao and sixteen other people were indicted for being aware that the company was making use of animal-grade oil to produce expensive cooking oils. He is facing a thirty-year term in jail but has denied his involvement.
Wei Ying-Chiao’s net worth is estimated at $2.1 billion. Just like many successful people today, Wei has had his own share of unpleasant scandals and misfortune. However, this man and his brothers rose from the ashes and worked very hard to build their family’s business, Tingyi, which has become China’s leading beverage maker.