1. Taiwan billionaire Terry Gou’s first presidential run was inspired by a prophecy from a famous sea goddess, Mazu. During a visit to a Taipei temple devoted to the deity, he claims the guardian angel of seafarers told him to “step forward and do something for the people of Taiwan”.
2. “If Mazu says that you should step up, it is not in order to make money or for personal enjoyment,” Mr Gou said. “I tell you, I am like a godson to Mazu … I will definitely respect and follow Mazu’s will.” Despite having the backing of a goddess, Mr Gou lost the primary to be the presidential candidate for Taiwan’s opposition party, the Kuomintang (KMT), in 2019. Four years later, history has repeated itself and once again the 72-year-old was overlooked by the KMT, in favour of New Taipei City mayor Hou Yu-ih. But this time the successful businessman, self-help author and yogi isn’t giving up and has decided to run as an independent.
3. With a net worth of about $US7 billion ($10.98 billion), funding a presidential bid won’t be much of an issue, but his bid comes at a tenuous time for the island. Over the past few years, China has exerted increasing pressure on its self-governed neighbour, regularly sending People’s Liberation Army aircraft and ships into the Taiwan Strait. Late last month it circled the island using drones, according to Taiwan’s Ministry of National Defence.
What potential risks are associated with having a wealthy business tycoon as a country’s leader?
4. With tensions the highest they have been in years, Mr Gou has made a lofty election promise to broker peace between Taiwan and China. “I shall never let Taiwan be the next Ukraine … I can guarantee that I’ll bring 50 years of peace to the Taiwan Strait,” he said. It’s a commitment that may win over some voters, but observers believe Mr Gou’s entry may ultimately help a less China-friendly candidate secure the presidency.
The $US7,000 loan that helped ‘Papa Gou’ become a billionaire
5. Mr Gou is the founder of the world’s largest electronic manufacturer, Foxconn — also known as Hon Hai Technology — which makes Kindles, PlayStations and, most famously, the iPhone. He started the company with a loan worth about $US7,000 from his mother-in-law and 11 elderly workers in 1974. In the early days, Mr Gou kept out of the spotlight, but as his company expanded, he appeared to acknowledge that it was too big to remain hidden. “I hate that I [have] become famous,” he told the Washington Post in 2007. While headquartered in Taiwan, Foxconn does the majority of its manufacturing in China, including at the world’s biggest iPhone factory in Zhengzhou.
6. He has been involved with the company ever since its founding but resigned from the board last week to pursue his political ambitions. In the past few weeks, Mr Gou released a book called Papa Gou: 30 Memos to Give to Young People, which is something of a memoir about his upbringing and work ethic and the lessons he learned in his years running Foxconn.
How can a business tycoon’s experience in managing a successful company translate into effective leadership at the national level? Do you think such a person?
Gou’s unique pitch for the presidency
7. Mr Gou’s business acumen and relationships with some of China’s most senior officials are key to his platform. “I think Terry wants to project the image that he can work with China,” said Wen-Ti Sung, a political scientist at the ANU. “And indeed, among all the potential presidential candidates, Terry alone has personal and direct access to the upper echelons of Beijing.” Mr Sung explained everyone else would likely only get access to the Chinese leadership through their public office, or in the case of the DPP — whose relations with Beijing are strained — perhaps not at all.?
8. Mr Gou’s powerful ties aren’t just limited to China. He also boasts about strong relationships in the US, including with former president Donald Trump, who has called the billionaire “one of the most successful businessmen in the world”. “He’s not going to style himself as a China-friendly candidate per se,” Mr Sung said. “He’s going to say that he alone can uniquely balance relations with the US and China at the same time.”
9. Just like another famous businessman turned presidential hopeful, part of Mr Gou’s sell is that he isn’t your typical politician. “He’s got a straight-talking political outsider image that appeals to a lot of the Taiwanese grassroots,” Mr Sung said. “There’s a term for this kind of paternalistic tycoon – Baqi zongcai in Chinese – which is basically … the guy that cuts through the [bulls**t].”
Have you ever been to Taiwan? What was your experience like? Do you want to visit Taiwan, Why? What is the first image that comes to mind when the topic of Taiwan is introduced?
