In Taiwan, there is a news that people have been talking about for many years, that is, the estate division case of Wang Yongqing, a well-known entrepreneur in Taiwan, the founder of Formosa Plastics Group, and a wealthy man known as the "God of Management".
Obviously, the huge inheritance of up to 40 billion yuan is just put in the Swiss bank, but no one can take it out.
Because if Wang Yongqing's children and descendants want to take out the sky-high inheritance of 40 billion yuan, they must first pay the entire 30 billion inheritance tax, and the tax rate is as high as 75 percent. Such a "loss-making transaction" can kill the descendants of the Wang family.
What's going on? Who will the $40 billion inheritance end up with?
1. Where is Wang Yongqing sacred?
Wang Yongqing, the richest man in Taiwan, is known as the "God of Management" and the "King of Plastics", and has created a legend in the international petrochemical industry. His success did not have a luxurious starting point, but began with a small grain of rice.
In his early years, due to his family's poverty, Wang Yongqing went to work as a long-term worker in a rice shop at the age of fifteen. Although he only does the job of delivering rice, he is very smart and tries to learn how to run a business. At the age of sixteen, he left his hometown for Chiayi and founded a rice shop.
At first, Wang Yongqing's rice shop was small and cold. He once personally carried rice on his back and sold it from house to house, but with little effect. In order to break the deadlock in sales, Wang Yongqing decided to start with the quality of each grain of rice.
At that time, farmers still used traditional manual methods in harvesting and processing rice, which resulted in the rice being mixed with many small stones and other debris.
Although people are accustomed to it, Wang Yongqing sees business opportunities in it. He began to carefully select miscellaneous items such as chaff and gravel in the rice before selling them. This small change improved the quality of the rice, and soon word of mouth spread, and the business of the rice shop gradually prospered.
Wang Yongqing began to draw inferences, he took into account that many customers who buy rice are elderly, so he took the initiative to send rice to the door, Wang Yongqing sent rice to customers, but not just delivered to the customer's door, he will also pour the rice into the rice jar and wipe the customer clean.
Wang Yongqing's business became even more prosperous, so after more than a year of accumulation of funds and customers, Wang Yongqing opened a rice factory.
Wang's attention to detail and keen insight into the market can be seen in this, starting with a small rice shop, and eventually establishing his future success in the international business world.
After growing step by step, he founded Weiking Group. The group is involved in a number of industries, among which the plastic products business is the mainstay, including plastic packaging, plastic products, plastic raw materials, etc.
And it has made remarkable achievements in the plastics business. Through the integration of plastic production, processing and sales, Wang Yongqing has built the company into an international plastics giant.
The success of the plastics business has also led to the gradual internationalization of Weijing Group and its expansion into the global market. Wang Yongqing's leadership and strategic vision have contributed to the company's global development.
Wang Yongqing's family is also involved in the operation of Weijing Group. Thanks to the joint efforts of the family, the company has been able to continue to grow. Despite his great commercial success, Mr. Wang has always been known for keeping a low profile and rarely talking about his personal life in public.
He is family-focused and actively involved in public welfare. In 1988, an authoritative report by Forbes magazine revealed that among the world's richest people with assets of more than one billion dollars, Wang Yongqing ranked 16th with a net worth of $4 billion, ranking among the billionaires.
He has not only become an expert in the plastics industry, but also shocked the international business community with the name of "the world's plastic king". With a humble starting point of a grain of rice, he forged his brilliant and legendary life.
Second, the division of inheritance is a problem
In 2008, Wang Yongqing died of myocardial infarction in New York at the age of 92. But such a rich man with a lot of money, why does the inheritance of 40 billion make it difficult for his family?
As a result of this situation, we have to talk about Swiss banks, which are famous all over the world, and Switzerland has long been known for its stable financial system.
The country's government implements strict regulations in terms of financial regulation to ensure the sound operation of financial institutions and prevent financial risks.
For many wealthy people, high taxes have been a headache for them, and Switzerland has a long history of attracting international capital with its relatively low tax rates and tax incentives. Wealthy people from all over the world place their assets in Swiss banks to avoid higher tax burdens in other countries.
And Switzerland is known for its strict banking privacy regulations, which makes Swiss banks one of the options for the wealthy to avoid taxes or protect their personal financial privacy.
And Switzerland, a neutral country, can be a safe haven in times of political and economic turmoil. This has also attracted wealthy people to move their assets to Switzerland to reduce investment risks.
Swiss banks are also known for their extremely specialized private banking and wealth management services. These services provide customized wealth management, investment planning and estate planning for the wealthy, attracting affluent clients who are looking for perfect services.
is such an extremely safe and private bank, but it is so "safe" that Wang Yongqing's children can't even withdraw their father's money. Because in a Swiss bank, if you want to withdraw the estate, you must get the legal authorization of the owner of the funds.
For example, documents, videos, audio, etc. can inherit the estate. But Wang Yongqing died suddenly, and he didn't distribute the 40 billion at all, so his children were naturally helpless.
Third, the business is intertwined
But this is 40 billion after all, no one can be indifferent to it, let alone the inheritance left by his father, the Wang family thought to themselves, shouldn't this belong to them?
So they began to negotiate with the Swiss bank, but they repeatedly had to eat the closed door, the Swiss bank said: I can't get the authorization statement of the owner of the property, according to our rules and regulations, just can't give you the money.
In order to avoid this money from going down the drain, the Wang family can only pin their hopes on the Taiwan authorities, hoping that they can help negotiate with the Swiss side and get back the 40 billion inheritance.
Naturally, the Taiwan authorities will not let go of such a piece of fat and said: "It is okay to negotiate with you, but you must first pay 30 billion yuan, or nearly 75 percent of the inheritance tax." Such a lion's big mouth made the Wang family angry, but they were helpless.
As a top billionaire, Wang Yongqing has worked hard all his life, and the legacy he left behind will naturally not be only 40 billion. According to the distribution during his lifetime, 260 billion was deposited in the trust fund, and as the majority of the inheritance, this money will never be withdrawn.
Instead, according to the interest and dividends every year, it ensures that the descendants of the Wang family will not worry about food and clothing for a lifetime. This is also Wang Yongqing's ardent expectation for the Wang family before his death, hoping that the descendants of the Wang family will never be as depressed as he was back then.
There is still an inheritance of 60 billion, and the descendants of the Wang family have made a compromise, and the three wives and their children have gathered together to pay off the inheritance tax of 12 billion yuan in accordance with the provisions of Taiwan's inheritance tax law.
Although Wang Yongqing has always kept a low profile and rarely revealed his private life to the outside world, it can still be seen that he is very full of emotions at the emotional level.
Wang Yongqing has three wives, namely Guo Yuelan, Yang Jiao and Li Baozhu. In these three marriages, each lady has added a different color to Wang Yongqing's life.
Guo Yuelan of Dafang is a devout Buddhist, and although she has no children, she has been quiet and indisputable in the long-term worship of the Buddha.
Yang Jiao, who was in the second room, brought two men and three girls to the Wang family. Wang Yongqing's second generation, including Wang Wenyang, Wang Xuehong and Wang Xueling, was born to Yang Jiao. Yang Jiao later chose to live in the United States for a long time.
Li Baozhu, who is in the third room, brought four daughters to Wang Yongqing. Among them, Wang Ruiyu became Wang Yongqing's most beloved daughter. Wang Ruiyu accompanies her father all the year round, and is a mature and elegant woman educated by Wang Yongqing himself.
Wang Yongqing's family relationship is quite harmonious, and there are no rumors of obvious discord between the wives. Each lady plays a unique and important role in Wang Yongqing's life, forming a happy family behind Wang Yongqing's career peak.
Fourth, the charity king public welfare tour
Wang Yongqing is not only the richest man in Taiwan, but also a well-known philanthropist. After witnessing his father Wang Changgeng die of illness in his arms.
He secretly vowed to build a general hospital that ordinary people could afford to see in the future, which is also the origin of Chang Gung Hospital.
Wang Yongqing has a deep understanding of the medical industry. As he experienced first-hand the pain of a family member's illness, he gained a clearer understanding of the quality and accessibility of medical care.
Wang believes that medical services are essential to the health and well-being of society. He hopes that through the establishment of Chang Gung Hospital, the medical environment in Taiwan will be improved, the medical level will be improved, and more people will be able to obtain high-quality medical services.
Chang Gung Hospital is not only a medical institution, but also interconnected with the School of Medicine of Chang Gung University. This integration helps to train more medical professionals and improve the level of the entire medical industry.
And his contribution is far more than that, Wang Yongqing's contribution to the cause of education is also significant. He has supported a number of educational projects, including donations to build schools, improve teaching facilities, and scholarship programs to provide better learning conditions for the younger generation.
It also cares for the disadvantaged groups, children, the elderly and other socially disadvantaged groups through donations and support for social welfare projects. His philanthropic acts encompass multiple social spheres and aim to improve the well-being of society.
Even Wang Yongqing has participated in some charity projects for natural environmental protection and cultural undertakings. His donations and support help protect the environment, promote cultural heritage, and contribute to the sustainable development of society.
And in the 2008 Wenchuan earthquake, Formosa Plastics Group generously donated 100 million yuan, ranking fifth in the country.
epilogue
A full 16 years have passed since Wang Yongqing's death, and he is such a legendary entrepreneur, most of his inheritance and company have been divided by his children, but this huge inheritance of 40 billion yuan is still sealed in Swiss banks, and I don't know when it will see the light of day.
On the left is the tough policy of the Swiss bank, and on the right is the Taiwan authorities, who are also eyeing this property.
If it were you, how would you choose, welcome to the comment area to discuss!
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