10 Things You Didn’t Know About Cho Tak Wong

If you’ve heard of Fuyao Glass Industry Group Co. Ltd., then you might be familiar with the name of its founder, Cho Tak Wong. As a renowned Chinese entrepreneur, he has contributed significantly to the glass industry and Chinese economy. But beyond the obvious, there are many intriguing aspects to his life that often go overlooked. Here are 10 things you didn’t know about Cho Tak Wong.

1. Self-Made Billionaire

Cho Tak Wong stands out as a self-made billionaire who worked his way up from humble beginnings. Unlike many billionaires who inherit the majority of their wealth, Cho Tak Wong’s wealth is self-earned. Born and raised in relative poverty, he started with a simple dream of improving life for his family and built an empire to command respect and recognition globally.

Cho’s philosophy of hard work, dedication, and relentless pursuit of goals enabled him to overcome difficulties. His rags-to-riches story serves an inspiration for many who aspire to succeed using their initiative and perseverance.

2. From an Apprentice to a Chairman

Cho Tak Wong began his career as an apprentice in a state-owned glass factory in China. Despite the challenging conditions, it was this early experience that fostered his fascination and passion for the glass manufacturing industry. His work ethic and passion eventually led him to climb up the ranks, culminating in his role today as the chairman of Fuyao Group.

Promoting from within, he emphasizes continued learning and professional growth, vowing to transform his employees into experts, if they show the same dedication and diligence he once did. His leadership style and belief in promoting from within has shaped the corporate culture at Fuyao.

3. An Advocate for Philanthropy

Cho Tak Wong isn’t just content with his business success; he’s also known for his philanthropic efforts. Ranking among the most generous philanthropists in China, he has confidence in giving back to society, contributing to educational causes, and helping less fortunate communities.

The Cho Tak Wong Foundation, established in 2009, has contributed funds to disaster relief efforts, education, and poverty alleviation. He firmly believes in the saying “to whom much is given, much is expected,” and believes his success comes with the responsibility of giving back.

4. Led the Global Expansion of Fuyao

Under Cho Tak Wong’s leadership, Fuyao Group has grown from a single production line in China to a reputable global brand. Today, Fuyao serves many international automotive giants like Ford, BMW, and General Motors. Anticipating the need for globalization early on, Cho expanded operations into various economies, including the United States and Germany.

His forward-thinking and strategizing capabilities played a crucial role in giving Fuyao a competitive advantage in the global market. His efforts have ultimately transformed Fuyao into the world’s largest manufacturer of automotive glass.

5. Made Ohio Home for Fuyao’s US Operations

In 2014, Cho Tak Wong made headlines when he purchased a former General Motors assembly plant in Ohio, marking Fuyao’s entry into the American market. The move not only provided jobs for locals, but it also cemented Fuyao’s place in the global market.

The decision wasn’t simple. Ohio was struggling to recover from the recession at the time, and the plant had been closed down. However, under Cho’s leadership, Fuyao rejuvenated the plant, breathing life into the Ohio economy and demonstrating his ability to make strategically beneficial decisions.

6. His Road to Entrepreneurship Wasn’t Smooth

Establishing Fuyao wasn’t a cakewalk for Cho Tak Wong. His journey was punctuated with numerous roadblocks, from initial funding issues to struggles with balancing the demand-supply equation during the early years. He had to maneuver through the intricacies of a transitioning Chinese business environment which was shifting from state control to privatization.

His determination, coupled with his distinct vision and strategic planning, helped him overcome these roadblocks to success. The significant milestones that Fuyao has achieved ever since are a testament to Cho’s resilience and understanding of the business ecosystem.

7. Featured in the Documentary “American Factory”

Cho Tak Wong’s ambitious American expansion served as the backdrop for the award-winning documentary, “American Factory.” This Netflix documentary, produced by former US President Barack Obama and Michelle Obama’s production company, Higher Ground Productions, offers an intriguing insight into the dynamics of Chinese investment in American industry through the lens of Fuyao’s Ohio factory.

The documentary highlights the cultural and working differences between the Chinese and American workforces, and underscores Cho’s determination to make the venture a success amidst all the challenges.

8. Firm Believer in Innovation

Cho Tak Wong has a deep-rooted belief in innovation and considers it the leading driving force for growth. He constantly pushes for development and advancement within the company, encouraging his team to stay ahead of the curve and adhere to technological advancements within the industry.

Under Cho’s leadership, Fuyao has been at the forefront of bringing forth innovative solutions within the automotive glass industry. This has not only allowed Fuyao to retain a competitive advantage but also greatly increased its standing in the global market.

9. An Award-winning Entrepreneur

/Cho Tak Wong’s contribution to China’s economic development has been recognized with numerous awards. This includes the prestigious Ernst & Young Entrepreneur of the Year Award for his contribution to China’s economy and innovative leadership and the Magnolia Award from Shanghai City for his contribution to Shanghai’s development.

These awards reflect his celebrated entrepreneurship and the success that his effective, thoughtful leadership has brought to Fuyao.

10. He Promotes “Harmony and Win-Win”

Cho Tak Wong believes in the concept of “Harmony and Win-Win” and applies these principles in managing Fuyao Group. He emphasizes the idea of growth and success being intrinsically linked to maintaining harmony among employees, communities, and the environment.

His vision of “win-win” manifests in Fuyao’s commitment to community development, a safe and vibrant workplace, and environmentally-friendly manufacturing processes. His belief in this guiding philosophy has shaped Fuyao’s norms and values and is an integral part of the company’s corporate culture.

In conclusion, Cho Tak Wong’s life and achievements offer an insightful look into one of the most successful businesses in China. His dedication, leadership, and humility serve as a beacon of hope to budding entrepreneurs and to those who dare to dream.

Useful Links

Cho Tak Wong’s Forbes Profile

“American Factory” on Netflix

Fuyao Glass Industry Group Co. Ltd.