Early Life
Cho Tak Wong, also known as Cao Dewang, was born in Fuqing, Fujian, China, in May 1946. His family's initial wealth was lost after the Chinese civil war, leading to a childhood marked by poverty. He left school at 14 to support his family.
Rise to Success
Cho's career began with selling tobacco leaves, which was illegal at the time. He later worked in a glass factory, saving enough to buy it in 1983. In 1985, he saw the potential in the automotive industry and directed his factory towards producing automotive glass. He founded Fuyao Group in 1987, and the company was listed on the Shanghai Stock Exchange in 1993. In 2009, he was named Ernst & Young World Entrepreneur Of The Year.
Key Business Strategies
Fuyao Group's success stems from its focus on producing high-quality automotive glass. The company targeted both the original equipment manufacturer (OEM) and replacement markets. Fuyao has established numerous production facilities and R&D centers worldwide, including in the United States, to serve major automobile manufacturers such as Ford, GM, and BMW.
Philanthropy
Cho Tak Wong is a renowned philanthropist. In 2010, he established the Heren Charitable Foundation by donating Fuyao Glass shares. In 2021, the foundation contributed RMB 10 billion to establish the Fuyao University of Science and Technology. He has donated a total of nearly RMB 26 billion to charitable causes.