Taiwan Billionaire & Fubon Bank Chairman Daniel Tsai with $4.5 Billion Fortune Donates $30 Million to United States Georgetown University to Fund Construction of Law School in Washington Campus, Studied Law for 1 Year at Georgetown University in 1979
29th June 2023 | Hong Kong
Taiwan billionaire & Fubon Bank Chairman Daniel Tsai with $4.5 billion fortune has donated $30 million to Georgetown University (United States) to fund construction of the law school in Washington campus, having studied law for 1 year at Georgetown University in 1979 (LL.M., Georgetown University). Daniel Tsai (Chairman of Fubon Bank) & his brother Richard Tsai (Chairman Fubon Financial) are leading Taiwan financial group Fubon Financial Holding, founded by their late father Tsai Wan-tsai. Fubon Financial Holding has a market capitalization of $27 billion (29/6/23: TWD 857 billion).
“ Taiwan Billionaire & Fubon Bank Chairman Daniel Tsai with $4.5 Billion Fortune Donates $30 Million to United States Georgetown University to Fund Construction of Law School in Washington Campus “
Taiwan Billionaire & Fubon Bank Chairman Daniel Tsai with $4.5 Billion Fortune Donates $30 Million to United States Georgetown University to Fund Construction of Law School in Washington Campus
Fubon Financial
Fubon Financial Holdings has the most complete portfolio of financial products and services in the industry, provided through a strong lineup of subsidiaries that includes Fubon Life, Taipei Fubon Bank, Fubon Bank (Hong Kong), Fubon Bank (China), Fubon Insurance, Fubon Securities and Fubon Asset Management. These subsidiaries ensure that Fubon delivers consistently strong results and remains a market leader. As of the end of 2022, Fubon Financial Holdings had total assets of NT$10.59 trillion, the second highest among financial holding companies, and its market capitalization was the highest in the sector. After-tax net profit totaled NT$46.93 billion in 2022, with earnings per share (EPS) of NT$3.54, the highest in the sector for a 14th consecutive year. Fubon was selected to the Fortune Global 500 for a fifth straight year and to Brand Finance’s list of the “Top 500 most valuable global brands” for a fourth year in a row.
Fubon Financial Holdings has moved aggressively to expand its presence in Greater China and East Asia. In 2008, it acquired a stake in Xiamen Bank through Fubon Bank (Hong Kong) to become the first Taiwanese financial institution to own shares in a Chinese bank. That was followed by the establishment of Fubon Property & Casualty Insurance in 2010 and joint venture Founder Fubon Fund Management in 2011. In 2014, Fubon Financial Holdings and Taipei Fubon Bank formally acquired an 80% stake in First Sino Bank, which was later renamed Fubon Bank (China) and become a wholly owned subsidiary of Fubon Financial Holdings in 2016. At the end of 2015, meanwhile, Fubon Life bought a 48% stake in Hyundai Life Insurance, and then gained a controlling interest in the South Korean insurer in September 2018 and renamed it Fubon Hyundai Life. That stake was increased to 77% in June 2021 after Fubon Life completed a rights offering.
In November 2022, Fubon Financial Holdings formally merged with Jih Sun Financial Holdings to strengthen its banking and securities businesses and expand its overall economic scale and strength. As the first merger of financial holding companies in Taiwan, it was a major milestone in the domestic financial sector. In April 2023, the mergers of Fubon and Jih Sun’s banking and securities units were completed. In the future, the company will continue to explore opportunities for cooperation as it moves toward its vision of emerging as a top Asian financial institution.
Fubon Financial Holdings has nurtured its presence in Taiwan for more than 60 years, and its brand concept – “Be positive All possible” – reflects its commitment to support those pursuing a better future with positive energy and an unrivaled array of financial services. Sustainability is also a top priority. A comprehensive “Fubon ESG Visioning Project” was launched in 2015, and the initiative turned its focus in 2021 to four major ESG strategies – decarbonization, digitalization, empowerment, and connection. In 2022, Fubon further aligned itself with international ESG conventions, becoming a member of the RE100 and having its SBT for emissions formally validated, signaling Fubon’s determination to fulfill its sustainability vision.
The efforts made on sustainability by Fubon Financial Holdings and its subsidiaries have earned widespread recognition internationally. Fubon has been selected as a constituent of the Dow Jones Sustainability Indices’ top index, the DJSI World Index, for six straight years and to the DJSI Emerging Markets Index for six years in a row. It has made the MSCI ESG Leaders Indexes seven years in a row and received an “AA” MSCI ESG rating, and ranked top three among global insurers in Sustainalytics’ 2022 ESG risk ratings. These and other honors manifest Fubon’s resolve on sustainability and its emergence as a global benchmark for sustainability in its industry.
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