Foxconn Technology Group’s billionaire founder Terry Gou is quitting the race to become Taiwan’s next president, people familiar with his decision said.
The decision brings to an end Gou’s years-long pursuit of Taiwan’s most-powerful job — at least for now. The businessman has made no secret of his political ambitions since first flirting with the idea of a presidential run in 2019. His platform of pursuing peace talks with China and acting as a key intermediary between Washington and Beijing had failed to excite voters.
Gou’s goal of becoming Taiwan’s president has faced several obstacles. His campaign faces a probe in Taiwan on suspicion of offering cash payments in exchange for signatures.
That comes on top of Beijing’s surprise investigation into Foxconn, the company Gou founded in 1974, reigniting concern he could be susceptible to pressure from China if he won. The probe came after Gou said he would not bow to Chinese threats.
Gou still has until 5:30 p.m. local time to make a final decision, the people said.
