Fubon Group's Tsai brothers named Taiwan's richest in Forbes' annual list

Despite an 8% decrease in their net worth, brothers Daniel Tsai and Richard Tsai have topped Forbes magazine's list of Taiwan's 50 richest people this year. The two brothers, who run Fubon Group, climbed two spots from last year to reclaim the number one position after a five-year gap, despite being among 22 of the top 50 billionaires in Taiwan who saw their net worth shrink. Forbes reported that the Tsai brothers' wealth had fallen to USD8.8bn as Fubon Financial Holding Co had taken a hit from Covid-19 insurance claims, which had lowered the company's earnings and share price last year. The Tsai family also owns telecom Taiwan Mobile Co and e-commerce platform momo.com Inc.