September 16, 2019 / 3:17 PM / a month ago

In a surprise move, Foxconn's Gou drops Taiwan's presidential bid

TAIPEI, Sept 16 (Reuters) - Terry Gou, founder of Apple supplier Foxconn, said on Monday he will not contest in Taiwan’s 2020 presidential election, in a surprise move amid rising tension with China.

Gou, Taiwan’s richest person with a net worth of $7.6 billion according to Forbes, said in a statement late on Monday that he would not join the already competitive race, after losing the presidential nomination from the opposition, China-friendly Kuomintang party in mid-July.

Self-ruled Taiwan is set to hold presidential and legislative elections in January amid a delicate time with its giant neighbour China, which considers the island its own and has been ramping up pressure to squeeze Taiwan’s space. (Reporting By Yimou Lee)

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