Early Life
Terry Gou was born in Banqiao, Taiwan, on October 18, 1950. His parents were from mainland China and fled to Taiwan during the Chinese Civil War. Gou received education from elementary school to college. Before founding Foxconn, he worked in a rubber factory and a medicine plant.
Rise to Success
In 1974, Gou founded Hon Hai Precision Industry Co., Ltd., known globally as Foxconn, with a startup capital of $7,500 and ten employees. Initially, the company manufactured plastic parts for television sets. Gou's strategic vision led to Foxconn's expansion, and it became a key supplier for major tech companies like Apple. In 1988, Foxconn opened its first factory in Shenzhen, China, which significantly contributed to its growth.
Key Business Strategies
Gou is known for his hands-on management style and focus on efficiency. He pioneered vertical integration, creating a self-sufficient ecosystem for production. This approach helped Foxconn become the world's largest contract manufacturer of electronics. His leadership and strategic partnerships with major companies like Apple, Dell, and Intel were pivotal to his success.
Philanthropy
Gou is committed to philanthropy. In 2000, he founded the YongLin Foundation to support various projects, including education and healthcare. The foundation has made significant contributions, such as donating to the National Taiwan University Medical School for cancer research and treatment.