Newspaper article China Post

At 86 Years Old, TSMC's Founder Is Finally a Billionaire

Newspaper article China Post

At 86 Years Old, TSMC's Founder Is Finally a Billionaire

Article excerpt

TAIPEI, Taiwan - Morris Chang is finally a billionaire, after the anticipated demand for the next iPhone sent the stock of Taiwan Semiconductor Manufacturing Co. skyrocketing, according to the Bloomberg Billionaires Index.

Shares in the company, a key part of the Apple supply chain, have gained 25 percent in the past year, Bloomberg found.

This reportedly increased the 86-year-old's fortune past the US$1 billion mark. Chang owns 5 percent of TSMC.

The rumor mill is in full swing for the iPhone 8, which is expected to be announced this or next month.

Born in China's Zhejiang province, Chang's family fled to Hong Kong and then to the U.S. during the Chinese Civil War. An MIT graduate, he has served as TSMC's chairman since founding the company in 1987.

Chang is far from Taiwan's only billionaire. …

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