Terry Gou, founder of electronics giant Foxconn, announced he has dropped out of the race to become Taiwan’s next president after talks with opposition parties of a combined ticket collapsed.“Those who achieve great things do not mind their reputation,” the rags-to-riches billionaire said in a statement Friday. “Terry Gou may be forgotten by people, but for the future of the Republic of China, choosing to sacrifice is his way of dedicating all his love to his homeland,” he said, referring to Taiwan’s formal name. Gou added: “Though dropped out, the ambition remains; STOP, RESET, RESTART. We must win! Alright? Complete the transfer of political power and change Taiwan. God bless the Republic of China!”The day before, Gou, who planned to run as an independent candidate, held a press conference that was televised live with opposition parties Kuomintang (KMT) and Taiwan People’s Party (TPP). Despite talks of seeking an agreement to unite against the ruling Democratic Progressive Party (DPP), the parties failed to make any headway in terms of formulating plans for a unified presidential ticket. KMT’s Hou Yu-ih and TPP’s Ko Wen-je, the former mayor of Taipei, both rushed to register their candidacy on Friday with their running mates Jaw Shaw-kong and Cynthia Wu, respectively. Vice President Lai Ching-te is the nominee of the independence-leaning DPP; President Tsai Ing-wen is scheduled to leave office in May next year due to term limits. The decision ends Gou’s second presidential bid for the island democracy’s highest office. He did not specify the reasons nor his next step in the presidential campaign. In mid-November, the election commission said Gou garnered more than 900,000 valid signatures and qualified to run as an independent presidential candidate. The 73-year-old first ran for president in 2019, citing a message from a Chinese sea goddess who had encouraged him to run. Gou’s fortune is currently estimated at $7 billion on Forbes’ Real-Time Billionaires List. He stepped down as the chairman of Foxconn, formally known as Hon Hai Precision Industry, in 2019 for his first attempt running for president. He dropped out of the race that year after failing to win the KMT’s nomination.


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