Children have been fighting for 13 years! Taiwan's former richest man, Wang Yongqing, ended the battle for his 52.8 billion yuan inheritance

　　After the death of Formosa Plastics Group founder Wang Yongqing in 2008, the children went through 13 years of property litigation until July 30 this year, coordinating how to distribute the last NT$110 million inheritance, and finally Wang Wenyang and 9 other children signed a settlement agreement, Wang Yongqing's total inheritance in Taiwan after his death totaled 52.8 billion yuan (NT$, the same below), deducting Taiwan's record-setting inheritance tax of 12 billion yuan, the remaining 40.8 billion yuan has been fully distributed.

　　According to the comprehensive media report of Hong Kong China Commentary Network, after Wang Yongqing's death, the Taipei Municipal Taxation Bureau approved a total estate of 52.68 billion yuan, but in 2012, the Wang family received a notice from the court and learned that Wang Yongqing still had a deposit of 110 million yuan in Standard Chartered Bank, so the tax bureau determined that the Wang family had underreported the inheritance tax and sacrificed a fine of more than 20 million yuan, but the Wang family was exempted from administrative litigation. The executor of Wang Yuelan's will filed a split estate lawsuit with the court, targeting 9 children of the second and third rooms, including Wang Wenyang, Wang Wenxiang, Wang Guiyun, Wang Xueling, Wang Xuehong, Wang Ruihua, Wang Ruiyu, Wang Ruihui and Wang Ruirong.

　　According to the regulations, Wang Yongqing's inheritance was first divided in half by Wang Yuelan, the big house, and the other half was divided equally between Wang Yuelan and her 9 children. Later, the half of the inheritance owned by Wang Yuelan has been donated to the second room Yang Jiao (deceased) and the third room Li Baozhu each for more than 7.4 billion yuan in the form of an agreement. According to this agreement, if it is found that there is an overseas inheritance, Wang Wenyang, as the only heir of Wang Yuelan and the eldest son of Yang Jiao, will not be able to get more inheritance, and he will have to distribute it with Li Baozhu, so he will launch a lawsuit.

　　The third lady Li Baozhu believes that in August 1957, She and Wang Yongqing held a wedding banquet in Taipei City, which was a "ceremonial marriage" at that time, as long as there was a public ceremony and 2 witnesses, there was no need to register with the household administration unit, which was also considered a legal marriage, and there was a legal ceremony for the opening of the second table banquet on the same day, and after she married into the Wang family, Wang Yongqing's life was taken care of by her, and in 2008, Wang Yongqing died in the United States after visiting the United States, and she was also accompanied by her at that time, which can prove that she is Wang Yongqing's legitimate wife and has the right to participate in the division of property.

　　This money affects the distribution of Wang Yongqing's overseas inheritance of 600 billion yuan, because those who can share this inheritance can also participate in the distribution of Wang Yongqing's overseas inheritance in the future, so they refuse to let go, the two sides have been arguing for many years, and under the persuasion of the judge, a settlement has been reached for the distribution of Wang Yongqing's Taiwan estate.

　　On July 30, the Taiwan High Court received a settlement letter in the estate case of Wang Yongqing, the founder of Formosa Plastics Group, and the lawyers of Wang Yongqing's eldest son Wang Wenyang and nine other children signed the settlement and withdrawal of the lawsuit, no longer arguing about Wang Yongqing's last estate of more than 110 million yuan in Taiwan, so that the total estate of Wang Yongqing was confirmed to be more than 52.8 billion yuan, because when he passed away in 2008, the maximum 50% of the old inheritance tax was applied, and after deducting half of the tax exemption such as the distribution of the remaining property of the husband and wife, the total amount of inheritance tax was 12 billion yuan. Set a record high in history.

Wang Yongqing (January 18, 1917 – October 15, 2008) was a native of Anxi, Quanzhou, Fujian. He was born in Zhitan (now Xindian City, Taipei County) near taipei during the Japanese colonial period in Taiwan, and died in New Jersey, USA. A well-known entrepreneur in Taiwan, the founder of Formosa Plastics Group, known as the "god of management", in June 2008, Forbes announced that Wang Yongqing was worth $6.8 billion.

(Editing by Xue Yang)