AI Boom Returns Data Storage Tycoon Peter Shu To The Ranks Of Taiwan’s Richest

AsiaEditors' PickAI Boom Returns Data Storage Tycoon Peter Shu To The Ranks Of Taiwan’s RichestByChengbo Liu, Contributor. Forbes contributors publish independent expert analyses and insights. I write about China's dynamic wealth creators.Follow AuthorJun 10, 2026, 05:34pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.This story appears in the June 2026 issue of Forbes Asia. Subscribe to Forbes AsiaPeter ShuImagine ChinaThis story is part of Forbes’ coverage of Taiwan’s Richest 2026. See the full list here. Amid the AI-driven boom in demand for chips, shares of Taipei-based Transcend Information, a maker of digital storage products such as memory modules and flash drives, more than tripled from a year ago, ushering chairman and CEO Peter Shu back onto the list after an eight-year gap. He appears at No. 36 with a $2.7 billion fortune shared with his family. The company’s net profit more than doubled to NT$5.6 billion ($177 million) in 2025 on revenue that soared 70% to NT$17.1 billion. The stellar performance reflects higher prices for Transcend’s products as well as the company’s ability to secure long-term contracts for essential workhorse memory chips. These are in short supply as semiconductor makers scramble to meet rampant demand for more advanced AI chips. In a push into AI-enabled products, the company last September introduced camera modules with vision sensors used for applications such as product inspection and surveillance. With a bachelor’s degree in electrical engineering from the National Cheng Kung University, Shu worked as a project manager at U.S. tech giant HP in Taiwan before setting up Transcend in 1989. His brother Chung-Cheng and son Dao-An have board seats. Editorial StandardsReprints & Permissions