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

In a surprise move, Foxconn's Gou drops Taiwan's presidential bid
FILE PHOTO: Foxconn Technology Group founder and chairman, Terry Gou, speaks during a news conference after his trip to the U.S., in Taipei, Taiwan May 6, 2019. REUTERS/Tyrone Siu/File Photo -
Tyrone Siu(Reuters)
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TAIPEI (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 (£6.1 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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