Tsai Hong-tu is a Taiwan

Taiwan

Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...

ese entrepreneur

Entrepreneur

An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...

 and banker. He is a son of Tsai Wan-lin

Tsai Wan-lin

Tsai Wan-lin was a Taiwanese businessman who, at the peak of his wealth in 1996, was considered to be the fifth richest person in the world, with a family net worth of US$12.2 billion. At the time of his death in 2004, he was the richest man in Taiwan with a fortune of US$4.6 billion , ranked...

, the former richest person of Taiwan who died in 2004.

Business career

Tsai Hong-tu is the Chairman of the Board of Cathay Financial Holdings. Inherited stakes of the Company with brothers Tsai Cheng-da and Tsai T.Y. when father Tsai Wan-lin

Tsai Wan-lin

Tsai Wan-lin was a Taiwanese businessman who, at the peak of his wealth in 1996, was considered to be the fifth richest person in the world, with a family net worth of US$12.2 billion. At the time of his death in 2004, he was the richest man in Taiwan with a fortune of US$4.6 billion , ranked...

 died in 2004. Family also controls Cathay Real Estate, a Taiwan property developer. In 2010's Forbes

Forbes

Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...

 World's Billionaires List, Tsai was ranked no. 582 in the world, side by side with brothers Tsai Cheng-da and Tsai T.Y., each with individual net worth of 1.7 Billion US Dollar.

Cathay Financial Holdings

Cathay Financial Holding operates its businesses through banking business, which involves in deposit, loan, electronic financial services, credit card business, foreign exchange trading, trust and wealth management, financial trading and financial services, among others; life insurance business, which provides life insurance, injury insurance, health insurance, annuity insurance and investment insurance; property insurance business, which offers automobile insurance, fire insurance, flood insurance, engineering insurance and other insurances; security business, which involves in stock broking and underwriting, as well as capital investment business, which offers security distribution, investment and management consulting services.