James Chao & family

Source of wealth: Chemicals, building products

78 years male Manufacturing 🇺🇸 US

Net Worth

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Earnings per second

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The scale of their wealth

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Health

The price of life

Let's compare James Chao & family's fortune with the healthcare spending of a massive country

James 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, James Chao & family could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 0.7 years.

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Education

Buying the future

Let's also compare their fortune with education spending, first with a poor country

James 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 James Chao & family could pay for it entirely for 1.4 years.

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Research

The monopoly on progress

Coming full circle, we think it's also interesting to add another gigantic country

James 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 James 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.

While billions of people struggle to access basic healthcare, education, and research, a single individual could fund entire national systems for centuries.

Gold

Everyday luxuries

James 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.

James 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 James Chao & family will almost certainly have enough money left over to pay for the gas.

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Biography

James 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. James and brother Albert are credited with helping launch the company.

James was chairman from 2004 to July 2024, when he became senior chairman. Albert was CEO from 2004 to July 2024, when he became executive chairman.

Albert and sister Dorothy Chao Jenkins are also estimated to own nearly 25% of Westlake.

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.

James' daughter Catherine Chao and son David Chao sit on Westlake's board alongside Albert's daughter Carolyn Chao Sabat and son John Chao.