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Billionaire Profile
Albert Chao & family
Global Rank
#1050

Image: Smithsonian Institution from United States | No restrictions | via Wikimedia Commons

Albert Chao & family

CEO, Chemicals
UNITED STATES
Real-Time Net Worth
$4.013B
Estimated based on Chemicals stock value as of March 6, 2026
-0.46% (24h)
Age
76
Source
Chemicals, building products
Industry
Manufacturing
Citizenship
UNITED STATES

Biography

Albert Chao is the Executive Chairman of Westlake Corporation, a major player in the chemicals and building products industries. Born in the U.S. and of Chinese descent, Chao, along with his family, has built a substantial fortune through their leadership of Westlake. Their wealth stems from their ownership and management of Westlake Corporation, a company founded by his father, T.T. Chao. Albert Chao has played a key role in the company's growth, including strategic acquisitions and operational improvements. His career has spanned over 40 years in the petrochemical industry. As of February 2, 2026, his estimated net worth is $3.0 billion. Chao resides in Houston, Texas. He is known for his philanthropic efforts through the Ting Tsung and Wei Fong Chao Foundation.

Fact Checked
Verified by Editorial Team
Live Data
Updated 3/6/2026

Wealth Over Time

In-Depth Profile

Early Life

Albert Chao was born in the United States. His parents, T.T. Chao and Wei Fong Chao, moved to the U.S. from Taiwan. His father founded Westlake Chemical Corporation in 1986, which became the cornerstone of the family's wealth.

Rise to Success

Albert Chao, along with his brother James, played a crucial role in the growth of Westlake Corporation. Albert served as the CEO from 2004 to July 2024, and then became the Executive Chairman. Westlake has grown significantly through acquisitions and strategic expansions. The company went public in 2004 and has since been listed on the Fortune 500.

Key Business Strategies

Westlake Corporation's success is attributed to its strategic acquisitions and operational discipline. The company is a major producer of low-density polyethylene (LDPE), PVC, and other chemicals used in construction, automotive, and consumer products. Chao's leadership has been instrumental in expanding Westlake's global presence, with operations across North America, Europe, and Asia.

Philanthropy

The Chao family is involved in philanthropy through the Ting Tsung and Wei Fong Chao Foundation. The foundation supports various causes, including cultural, civic, and higher education institutions, with a focus on universities in Texas, such as Rice University and the University of Houston.

Career Milestones

1985

Co-founded Westlake Chemical Corporation

Assisted his father and brother in establishing Westlake Chemical Corporation.

1996

President of Westlake Chemical Corporation

Became President of Westlake Chemical Corporation.

2004

CEO of Westlake Chemical Corporation

Became the Chief Executive Officer of Westlake Chemical Corporation.

2024

Executive Chairman of Westlake Chemical Corporation

Assumed the role of Executive Chairman of the Board for Westlake.

Philanthropy & Social Impact

Education, Civic, Culture

Ting Tsung and Wei Fong Chao Foundation

Unknown

Supports cultural, civic, and higher education institutions.

Education

Rice University Center for Asian Studies

$15M

The Chao family contributed $15 million to fund a new Center for Asian Studies at Rice University.

Business Philosophy & Leadership

Notable Quotes

"“As first-generation immigrants to receive this esteemed award, we see this as a reflection of Houston's rich multicultural society."

Leadership Principles

Strategic Acquisitions

Driving company growth through strategic acquisitions, such as Axiall Corporation and Boral's building products business.

Operational Discipline

Focusing on operational efficiency to improve performance.

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