In Lakeland, a new billionaire emerges -- who happens to be married to a Publix executive
Shares of Westlake Chemical have risen nearly 90 percent this year, and sevenfold since March 2009, making a new billionaire in Lakeland, Fla.
Wake up and good morning. A new billionaire -- a woman -- has apparently been created this year in central Florida. According to Bloomberg News, Dorothy Chao Jenkins (photo, right) is worth at least $1.4 billion thanks to her substantial stake in a Houston chemicals company called Westlake Chemical Corp.
She also happens to be the wife of Publix Super Markets chairman Charles H. Jenkins in Lakeland.
Dorothy Chao Jenkins, 67, is a daughter of Ting Tsung "T.T." Chao. She and brothers James Chao, 65, and Albert Chao, 63, own 70 percent of Westlake, a producer of basic chemicals and North America's largest maker of LDPE polyethylene, a polymer used to make plastic. James chairs Westlake while Albert is president and CEO. Dorothy sits on the Westlake board. She also is on the boards of Wellesley College in Massachusetts, the Polk Museum of Art and the John and Mable Ringling Museum Foundation in Sarasota.
"None of the Chaos have appeared on an international wealth ranking," Bloomberg reports. Read the full Bloomberg story here.
-- Robert Trigaux, Business Columnist, Tampa Bay Times