Albert Chao & family
Source of wealth: Chemicals, building products
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The scale of their wealth
Health
The price of life
Let's compare Albert Chao & family's fortune with the healthcare spending of a massive country
Albert Chao & family could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 1.6 years.
But even if we compare their fortune with that of a rich country
On the other end, Albert Chao & family could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 0.7 years.
Education
Buying the future
Let's also compare their fortune with education spending, first with a poor country
Albert Chao & family could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 1.0 years.
And yes, we can also compare it with a rich country
But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Albert Chao & family could pay for it entirely for 1.4 years.
Research
The monopoly on progress
Coming full circle, we think it's also interesting to add another gigantic country
Albert Chao & family could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 5.9 years.
And of course, the country that invests the most per capita worldwide
But even if we compare the total wealth of Albert Chao & family with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.1 years.
Gold
Everyday luxuries
Albert Chao & family's fortune is equivalent to 24 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.
A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.
Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.
Albert Chao & family could buy 6,361,427 gold rings. That's a lot of fingers and way too many gifts!!
And if you're struggling to visualize that many rings, it would take 1 trucks to transport them. Although Albert Chao & family will almost certainly have enough money left over to pay for the gas.
Biography
Albert Chao is estimated to own nearly 25% of Westlake Corporation, one of North America's largest producers of low-density polyethylene, used for food packaging and more.
His father T.T. Chao moved the family from Taiwan to the U.S. and founded Westlake in 1986. Albert and brother James Chao are credited with helping launch the company.
Albert was CEO from 2004 to July 2024, when he became executive chairman. James was chairman from 2004 to July 2024, when he became senior chairman.
James and sister Dorothy Chao Jenkins are also estimated to own nearly 25% of Westlake apiece.
Dorothy is married to Charles H. Jenkins, Jr., the former chairman of his family's supermarket chain, Publix. She retired as a director of Westlake in 2023.
Albert's daughter Carolyn Chao Sabat and son John Chao sit on Westlake's board alongside James' daughter Catherine Chao and son David Chao.
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison