Taiwan's richest person Terry Gou announces presidential bid

Terry Gou, chairman of Apple supplier Foxconn, said on Wednesday he will contest Taiwan's 2020 presidential election, shaking up the political landscape at a time of heightened tension between the self-ruled island and Beijing. Gou, Taiwan's richest person with a net worth of $7.6 billion according to Forbes, said he would join the already competitive race and would take part in the opposition, China-friendly Kuomintang party's primaries.

His bid, which requires KMT approval, comes at a delicate time for cross-strait relations and delivers a blow to the ruling pro-independence Democratic Progressive Party, which is struggling in opinion polls.