Walter Wang

Walter Wang is a Taiwanese businessman, investor, and philanthropist. He is the co-founder of The Walter and Shirley Wang Foundation, and JMM Foundation, a philanthropic organization. He is also the CEO of JM Eagle, a global manufacturer of plastic pipe. Wang's father was Wang Yung-ching, founder of the plastics and petrochemicals conglomerate Formosa Plastics Group and one of the wealthiest individuals in Taiwan before his death in 2008. His sister is Cher Wang, co-founder and chairperson (since 2007) of HTC Corporation and integrated chipset maker VIA Technologies.

Early life and education

Wang's father was Taiwanese billionaire, Wang Yung-ching, who is known informally as Y.C. Wang. Wang is the youngest of Y.C. Wang's five children by Wang Yang Chiao. When Wang was nine years old, Wang Yang Chiao left Taiwan against Y.C. Wang's wishes. They moved to Berkeley, California to be closer to one of Yang Chiao's older children, Cher Wang. Wang attended University of California - Berkeley before moving back to Taiwan to work for his father's corporation, Formosa Plastics Group, in 1988.

Career

In 2005, Wang purchased JM Manufacturing through syndicated loans from his father. In 2007, Wang bought PW Eagle, another large PVC pipe producer, to form JM Eagle. JM Eagle relocated its headquarters to Los Angeles, California in 2008.

Wang is a board member of the publicly listed Formosa Petrochemical and Formosa Chemical and Fiber Corporations in Taiwan. He is also a member of the Young Presidents Organization Los Angeles and Intercontinental chapters. He belongs to the World Economic Forum and the Committee of 100. Wang sits on the board of directors for the Danny Thompson Memorial Leukemia Foundation, the Los Angeles Police Foundation, the Aaron Diamond AIDS Research Center, the DEA Educational Foundation, the Chinese Overseas Exchange Association (COEA), and the Boao Forum in China. Along with his wife, Wang is a trustee of the U.S. Olympic Committee, and both serve on the board of the Los Angeles Olympic Committee 2028.

Philanthropy

Wang is a benefactor to causes in the United States and internationally, ranging from education to healthcare, social and immigration issues, anti-drug campaigns, and efforts to raise cultural awareness. He is co-founder of the Walter and Shirley Wang Foundation and the JMM Foundation, along with his wife. Together, the Wangs established an endowed chair at the Cedar Sinai Medical Center for Pediatric Surgery, both to fund novel research in pediatric surgery and to assist underprivileged children in need of surgery. The Walter and Shirley Wang Foundation helped establish the DEA Museum in Los Angeles, California, with the goal of educating the public on illegal drugs and trafficking. They also support Doctors Without Borders.

Walter and Shirley Wang established an endowment at University of California - Los Angeles (UCLA), Shirley Wang's alma mater, to support students from middle-income families and have given scholarships in chemistry and biochemistry to students, graduate students, middle-income students, fellowships, and study abroad programs. The Wangs have also endowed a chair for Asian American Studies and a chair for Medicinal Discovery at UCLA. The couple also funded Wang Hall at Harvard Westlake School in Los Angeles, California, and provided the lead donation for the renovation of the Harvard Westlake Humanities and Art Building. At UCLA, they endowed the first academic chair on U.S.-China relations and Chinese American studies in the United States.

The Wangs are the most prominent sponsors of the Emmy-nominated PBS documentary Becoming American: The Chinese Experience by [Bill Moyers].

In the wake of the COVID-19 global pandemic, JM Eagle and Plastpro, Inc. also donated surgical masks to Ohio facilities local to the Plastpro, Inc. factory. Walter and Shirley Wang donated $1 million to the Mayor's Fund of Los Angeles, in addition to supplies for face shields intended for use at Cedars Sinai Medical Center and the Innovation Lab at UCLA.

In 2023, Walter and Shirley Wang donated $2.5 million to help increase support for Columbia University's Yellow Ribbon Program, which now meets 100 percent of student veterans’ tuition and fees. It was described by the university president as “the single most significant gift dedicated to student veterans that this institution has ever received.”

Relationship to China

In 2013, Wang served as a representative of the China Overseas Exchange Association (COEA) in Beijing, according to the People's Daily. The same year, Wang traveled to Beijing as part of a Committee of 100 delegation to encourage American-Chinese diplomatic relations. In March 2018, Wang attended the first session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC) in Beijing, according to the Overseas Chinese Affairs Office.

Personal life

Ten days after purchasing JM Eagle in 2005, Wang was diagnosed with stage-four nasal cancer. He was issued a clean bill of health in mid-2006.

References