Terry Gou Drops Taiwan Presidential Bid After Unity Talks Collapse

Terry Gou, the Taiwanese billionaire and former chairman of Foxconn, has dropped his bid for the presidency of Taiwan after unity talks with the Kuomintang (KMT) and the People’s Party (TPP) collapsed.

Gou, who is estimated to have a net worth of $7 billion, made the announcement in a press conference on Friday. He said that he was withdrawing from the race in order to “sacrifice” for Taiwan’s future.

“I have made the difficult decision to withdraw from the presidential race,” Gou said. “I believe that Taiwan’s unity is more important than my personal ambition.”

Gou’s withdrawal leaves Vice President Lai Ching-te, the nominee of the Democratic Progressive Party (DPP), as the clear frontrunner in the race. Lai, who is considered to be a moderate, is favored by many voters who are concerned about the threat posed by China.

Gou’s decision to drop out of the race is a major blow to the KMT and the TPP, which had hoped to unite behind a single candidate in order to defeat Lai. The KMT and the TPP have been struggling to gain traction in recent polls, and Gou’s withdrawal is likely to make it even more difficult for them to mount a serious challenge to the DPP.

Gou’s presidential bid was seen as a long shot from the start. He had never held elected office, and he was inexperienced in politics. However, he was a popular figure among many Taiwanese voters, who were attracted to his business acumen and his pledge to improve Taiwan’s economy.

Gou’s withdrawal from the race is the end of his second presidential bid. He first ran for president in 2019, but he lost to Tsai Ing-wen, the incumbent president.

Gou has not yet announced his plans for the future, but he has said that he will continue to work to “STOP, RESET, RESTART” Taiwan.