WION Web TeamNew Delhi 13 July 2017Jul 13, 2017, 06.30 AM
Morris Chang, the 86-year-old founder of Taiwan Semiconductor Manufacturing company (TSMC), has become a billionaire after his company's shares surged.
TSMC share price zoomed after reports of expected revenue boost as the new iPhone is set to be launched in a few months. TSMC makes chips for iphones on contract, it is also the world's largest chipmaker.
TSMC shares have surged 27 per cent in the past year.
According to a Taiwan stock exchange May 2017 report, Morris Chang owns 0.5 per cent of TSMC directly and through his family.
Chang is a graduate of Massachusetts Institute of Technology and Stanford University. He founded TSMC in 1987 when he was in his mid-50s.
Chang known as the "Silicon Godfather" is widely recognised as the man behind Taiwan’s rise in the semiconductor industry.
He was the first to initiate a semiconductor factory that made chips based on its customer's design. He resigned from the TSMC post as CEO in 2005 but joined again four years later to revive the declining company.
Before establishing his own company, Chang worked in Texas Instruments.
The rise in the share is due to the expected revenue boost after the launch of new iPhone. || ||Morris Chang was the first to initiate a semiconductor factory that made chips based on its customer's design.