Wang You-theng, Taiwanese entrepreneur, Died at 89

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Wang You-theng was born on March 5, 1927, in Changsha, Hunan, China, and died on May 27, 2016.

He was a Taiwanese entrepreneur.

Wang founded the China Rebar Group in 1959.

He served as its chairman until fleeing Taiwan in late 2006 amid allegations of embezzlement and fraud.

The China Rebar Group was a manufacturer of steel reinforcement beams.

As the years went by Rebar expanded its operations from the construction industry into textiles, hotels, real estate, retail services, insurance, banking, and telecommunications.

Wang You-theng growing business empire enable him to enjoy a large personal fortune and increasing political clout.

Some of Wang’s children and relatives served as high-ranking officers in Rebar’s subsidiary companies.

He was married four times and has six sons and two daughters.

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