Terry’s estimated net worth today is around $4.1 billion, but unlike many billionaires of our time, his wealth was built through his own hard work. Foxconn started as a backyard business making plastic materials for electronics product. The business operated in a shed and employed only 10 people. The company’s first big break was when they were enlisted to manufacture plastic components of the Atari gaming console. From then on, the company started to grow and become the largest manufacturer in the industry.
The growth of Foxconn can be directly attributed to the hard work that Terry placed in selling their services. He is known to be a very aggressive salesman and would often drop by different companies in the United States in search for manufacturing contracts. He is living proof that hard work does pay off.
Although being the largest manufacturer in the electronics services industry, Foxconn has had their fair share of controversies. Today, the company is being accused of creating a slave-labor like environment. Apparently some of the company’s employees committed suicide due to the poor working conditions and low salaries. The company has also been accused of forcing graduating students of a popular Taiwan technological university to work 2 months in Foxconn factories before receiving their diplomas.
Other than the controversies that that currently haunts the company, Terry himself has had relatively large controversies in his personal life. It was revealed that a woman with whom he allegedly had an affair was blackmailing him.