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Billionaire Profile
Albert Chao & family
Global Rank
#1018

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

Albert Chao & family

CEO, Chemicals
UNITED STATES
Real-Time Net Worth
$4.237B
Estimated based on Chemicals stock value as of April 20, 2026
0% (24h)
Age
76
Source
Chemicals, building products
Industry
Manufacturing
Citizenship
UNITED STATES

Biography

Albert Chao, at 76 years old, is a prominent figure in the chemical and building products industries, primarily through his stake in Westlake Corporation. He is estimated to have a net worth of $4.1 billion. His career has been marked by leadership roles, including serving as CEO of Westlake from 2004 to July 2024, and now as Executive Chairman. The Chao family's wealth stems from their founding of Westlake in 1986, a company that has become a major producer of low-density polyethylene. Beyond business, the family is known for its philanthropy, particularly in education and research, through the Ting Tsung and Wei Fong Chao Foundation.

Fact Checked
Verified by Editorial Team
Live Data
Updated 4/20/2026

Wealth Over Time

In-Depth Profile

Early Life

The Chao family's story begins with Ting Tsung (T.T.) Chao and his wife, Wei Fong, who moved from China to Taiwan in the 1940s. T.T. Chao pioneered ventures in the petrochemical industry. Albert Chao, along with his siblings, inherited and expanded upon this legacy.

Rise to Success

In 1986, T.T. Chao founded Westlake Chemical Corporation in Houston. Albert Chao, along with his brother James, played a key role in the company's growth. Westlake has expanded through acquisitions and construction, becoming a major player in North America's low-density polyethylene production.

Key Business Strategies

Westlake's strategy has focused on consistent growth, strategic acquisitions, and expansion of existing facilities. The company has diversified its operations, ensuring a strong market position. Albert Chao's leadership has been pivotal in these strategies.

Philanthropy

The Chao family is actively involved in philanthropy through the Ting Tsung and Wei Fong Chao Foundation. Their contributions support education and research, notably the Chao Center for Asian Studies at Rice University and the Chao Center for BRAIN at Houston Methodist Research Institute. The foundation's annual giving was approximately $26.7 million in 2023.

Career Milestones

1986

Co-founded Westlake Chemical Corporation

Co-founded the company with his father T.T. Chao and his brother James Chao.

2004-2024

CEO of Westlake Chemical Corporation

Served as the CEO of Westlake Chemical Corporation.

2024-Present

Executive Chairman of Westlake Chemical Corporation

Currently serves as Executive Chairman of Westlake.

Philanthropy & Social Impact

Education

Chao Center for Asian Studies

$15M

A center for Asian studies at Rice University

Medical Research

Chao Center for BRAIN

Unknown

Supports the Center for BRAIN at Houston Methodist Research Institute

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