Foxconn founder Terry Gou is running for president of Taiwan. He says China will not intimidate him
Terry Gou, the founder of Foxconn and one of Taiwan’s richest men, has announced his candidacy for the 2024 presidential election. This is the businessman’s second attempt to run for president, writes Про це пише Insider.
Answering a journalist’s question about how he would respond to pressure from Beijing over Foxconn’s large business in China if he were elected president, Gou said: “I will not be threatened.”
“If the Chinese Communist Party dares to do this, which country, which investment fund, which company would dare to invest in China?” he added, clarifying that he has no personal assets in China. However, Foxconn is the largest private employer in China.
In addition, Gou reminded that Foxconn’s customers include such major companies as Apple, Amazon, Tesla, and Nvidia. Therefore, if Beijing confiscates Foxconn’s assets, supply chains will be disrupted, so, according to the businessman, communist China will not dare to do so.
“How would the Chinese Communist Party explain to major global brands?” he asked. “Besides, its economy is terrible now.”
At the same time, the founder of Foxconn is considered to be an opponent of the Taiwanese independence movement. He claims that the ruling Democratic Progressive Party “exalts Taiwan’s independence, hates and opposes China”. His own position is that Taiwan’s independence is not an issue, and he supports the 1992 Consensus within the framework of the concept of a united China.
Terry Gou, 72, founded Foxconn in 1974. According to the Bloomberg Billionaires Index, his fortune is estimated at nearly $7 billion, a significant portion of which is a 12.6% stake in Foxconn.
The business tycoon stepped down as chairman of Foxconn in 2019 in an attempt to run for president of Taiwan. However, he dropped out of the race after failing to win the nomination of the Kuomintang, Taiwan’s main opposition party.
Gou tried again this year, but again failed to win the party nomination, so he will run as an independent. Some analysts see Terry Gou as Taiwan’s equivalent of Donald Trump.
Terry Gou joins the race with three other candidates: Taiwan’s Vice President William Lai Tsing-jeou of the ruling Democratic Progressive Party, Hou Yu, mayor of New Taipei City from the main opposition Kuomintang Party, and chairman of the People’s Party of Taiwan Ko Wende, former mayor of Taipei. Taiwan’s presidential election is scheduled for January 13, 2024.