Gou – Overview
Taiwanese tycoon Terry Gou comes with an estimated net worth of $5.1 billion. Born Terry Tai-Ming Gou on October 8, 1950, he is the creator and chairman of Foxconn, a transnational electronics contract manufacturing company which is also referred to as Hon Hai. It is the biggest electronics manufacturing services business on earth with contract for other businesses for example Apple, Inc. It’s factories in various countries but many are in mainland China, the biggest exporter and employs 1.2 million people.
Hon Hai or Foxconn was set up by Gou in 1974. Now, the factories produce gadgets like iPad, iPhone, Kindle, Xbox,PlayStationand the Wii. It’s collected about 40% of the world’s consumer products but has also drawn controversy. It has been under serious claims as a result of unfair and dangerous work practices. He is currently #239 in the planet ‘s Billionaire’s List (#184 in 2012), #2 in Taiwan, #55 in the list of Strong People, and #4 in Taiwan’s list of 40 Most Affluent individuals.
It’s the biggest such electronic equipment manufacturing services business on earth, with factories in many nations, largely in mainland China, where it employs 1.2 million individuals and is its largest exporter.
In 1988 he opened his first factory in mainland China, in Shenzhen, where his biggest factory continues today. Businesses in China took on a giant measurement when Gou vertically integrated the assemblage procedure and facilities for workers. The manufacturing site became a campus that included housing, dining, and medical care for the workers, and even chicken farming to replenish the cafeteria. In 1996, Hon Hai began assembling chassis for Compaq desktops. From this turning point, he obtained other customers for assembling the bare bones chassis including HP, IBM, and Apple, and also would continue to grow into a consumer electronics giant within years. Gou attracted controversy when remarks he made during a board meeting about employees were interpreted into English as “Hon Hai has a work force of over one million global and as human beings can also be creatures, to manage one million animals gives me a head ache.” Through Foxconn, Gou would protest that the translation was inferior and took his remarks out of context. Regarding the January 2012 Taiwanese Presidential election, the Kuomingtang website suggests that, “Hon Hai Group Chairman Terry Gou threw his support behind Ma Ying-jeou.”