Founder of Taiwan’s Evergreen Group, Chang Yung-fa, passed away yesterday morning at the age of 88.
Evergreen Group did not mention the cause of his death, it was reported.
The magnate, born in 1927, entered into the shipping business at a young age of 14, and built up the shipping business of Evergreen Group in 1968 with a used bulk carrier. The shipping business eventually grew into Taiwan’s largest container line Evergreen Marine.
Evergreen Group also owns aviation firm Eva Airways and a hotel chain.
Forbes ranked Chang as the world’s 17th richest man in 2015 with a wealth of $1.6bn.
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