Morris Chang (張忠謀)

Morris Chang, the legendary entrepreneur hailed as the "godfather of semiconductors," is the founder of Taiwan Semiconductor Manufacturing Company (TSMC). He created the world's first pure-play semiconductor foundry, pioneering a business model that reshaped the global technology industry ecosystem. From his role as a Chinese-American executive at Texas Instruments in the United States to returning to Taiwan to found TSMC, his life trajectory witnesses the development of the global semiconductor industry and laid the foundation for Taiwan's critical position in the global technology supply chain.

30-Second Overview

Why should the world know Morris Chang?

TSMC, founded by Morris Chang, is the world's most valuable semiconductor foundry by market capitalization and a vital cornerstone of modern digital civilization. From smartphones and computers to AI chips, the vast majority of the world's advanced semiconductors are manufactured by TSMC. The "pure-play foundry" business model he pioneered allowed countless technology companies to focus on chip design without needing to invest massive capital in building fabrication plants, fundamentally reshaping the global tech ecosystem.

TSMC is often referred to as Taiwan's "National Defense Mountain" (護國神山), holding an irreplaceable strategic position in geopolitics. Morris Chang is one of the few individuals in the 20th century to truly alter industry structures—he redefined the commercial boundaries of the semiconductor industry, enabling Taiwan to start from a foundry base and become a core node in the global technology supply chain.

Born in Ningbo, Zhejiang in 1931; founded TSMC in Taiwan in 1987: Morris Chang's life is itself a microcosm of the technological rise of Asia in the 20th century.

Early Life and Education

Growing Up in Turbulent Times

Birth and Family Background:
On July 10, 1931, Morris Chang was born in Ningbo¹¹, Zhejiang, China. His father, Chang Wei-kuan, was a banker, and his mother, Hsu Yun-cheng, came from a scholarly family. During those turbulent years, his father's deep knowledge of literature and history and the family's extensive library provided an environment that allowed him to maintain a humanistic perspective throughout his engineering career.

Childhood Migrations:
Due to war, Chang's childhood was marked by frequent migrations. Moving from Ningbo to Shanghai, Nanjing, Chongqing, back to Shanghai, then to Guangzhou, Hong Kong, and finally to the United States, this period of displacement cultivated his adaptability and international perspective.

Schooling in Hong Kong:
In 1945, at age 14, Chang moved with his family to Hong Kong, where he received secondary education under the British colonial system. The international environment and English-language education in Hong Kong laid an important foundation for his later studies and work in the United States.

Key Turning Points in U.S. Education

Brief Experience at Harvard University:
In 1949, at age 18, Chang entered Harvard University²², initially studying literature. However, a year later, due to a lack of passion for literature and economic considerations, he transferred to the Massachusetts Institute of Canada (MIT).

Engineering Education at MIT:
At MIT, Chang chose mechanical engineering as his major. This choice, seemingly accidental, allowed him to accumulate firsthand engineering intuition in the core of semiconductor manufacturing (precision mechanical processes), which later served as a vital foundation for leading process improvements at TSMC.

Graduation with a Bachelor's in 1952:
Chang earned his Bachelor of Science in Mechanical Engineering from MIT in 1952.³³ Graduating during the Korean War, he was unable to secure certain U.S. military-related positions due to his status as a foreign student; this limitation instead directed him toward civilian industry.

Early Career: Sylvania

Entry into the Semiconductor Industry

The Opportunity of 1955:
After graduation, Chang worked at Sylvania for three years⁴⁴, marking his first contact with the semiconductor industry. At the time, the semiconductor industry was still in its infancy, but Chang keenly perceived the immense potential of this emerging field.

Cultivating Technical Skills:
At Sylvania, Chang was responsible for the manufacturing of semiconductor devices, learning the fundamentals of semiconductor processes. This experience taught him the complexity and precision required in semiconductor manufacturing and fostered his attention to technical detail.

Emerging Management Talent:
Even in entry-level technical roles, Chang demonstrated excellent management capabilities. He was adept at organizing teams and solving technical problems; these three years of experience helped him understand the rigorous requirements of semiconductor manufacturing.

The Texas Instruments Era: Demonstrating Management Talent

The Major Turning Point of 1958

Joining Texas Instruments:
In 1958, Morris Chang joined Texas Instruments (TI)⁵⁵, a pivotal turning point in his career. At the time, TI was aggressively expanding its semiconductor business and needed talent capable of bridging engineering and management.

From Engineer to Manager:
At TI, Chang started as a semiconductor engineer responsible for wafer production. He performed brilliantly in technical aspects while simultaneously demonstrating exceptional management talent, quickly earning the recognition of senior leadership.

Contributions to Process Improvement:
During his tenure at TI, Chang significantly improved the company's semiconductor processes, increasing product yields and production efficiency. These technical improvements saved the company substantial costs and earned him a strong reputation.

Advanced Studies at Stanford University

The Learning Opportunity of 1961:
In 1961, Texas Instruments sponsored Chang to pursue a PhD in Electrical Engineering at Stanford University. This was an acknowledgment of his abilities by the company and demonstrated the importance American corporations placed on talent cultivation.

Gains from the Doctoral Degree:
In 1964, Chang obtained his PhD in Electrical Engineering from Stanford University. ⁶ This advanced study elevated both his theoretical depth and his industry network, leading to immediate promotion upon his return to TI.

A New Role Upon Returning to the Company:
After completing his doctorate, Chang returned to Texas Instruments in higher management roles. He served successively as General Manager of the Transistor Division, the Silicon Transistor Division, and the Integrated Circuit Division, with his status at TI rising alongside his performance year by year.

Breaking the Racial Ceiling

The Historic Promotion of 1972:
In 1972, Morris Chang was promoted to Vice President⁷⁷ of the Texas Instruments Group, becoming one of the highest-ranking Chinese-American executives in a major U.S. corporation at the time. This promotion was an extremely rare achievement in the American business environment of that era.

General Manager of the Semiconductor Group:
Chang also served as General Manager of the Texas Instruments Semiconductor Group, overseeing the company's core business division. Under his leadership, TI's semiconductor business grew rapidly, becoming a major global supplier.

Summary of 25 Years in the U.S.:
During his 25 years at Texas Instruments, Chang rose from an entry-level engineer to a senior executive, gaining a deep understanding of both the technical rhythms and the business logic of the semiconductor industry. This experience ensured that when he returned to Taiwan to start a business in 1987, his market judgments were far more precise than those of anyone with a purely academic background.

The Call from Taiwan: The ITRI Presidency

The Life Turning Point of 1985

The Invitation from Sun Yun-suan:
In 1985, Morris Chang was strongly invited by former Premier Sun Yun-suan⁸, ITRI Chairman Hsu Hsien-hsiu, Premier Yu Kuo-hua, and Minister of State Li Kwo-ting to serve as the President of the Industrial Technology Research Institute (ITRI). Sun Yun-suan had long advocated for the development of Taiwan's high-tech industry and was a key driver in inviting Chang back to Taiwan. This decision changed the trajectory of his life and the destiny of Taiwan's technology industry.

The Courage to Leave the Comfort Zone:
At 54, Morris Chang already possessed a successful career and a prosperous life in the United States. Choosing to return to Taiwan was a decision fraught with risk and challenge, demonstrating his sense of mission toward Taiwan's technological development.

Reforming ITRI:
During his presidency at ITRI, Chang promoted the close integration of R&D and industry, reorganizing ITRI's research direction using American management principles. His international vision transformed ITRI from a government research institute into a more commercially-minded technology incubator.

Assessment of Taiwan's Semiconductor Industry

Analyzing the Industrial Environment:
Chang carefully assessed Taiwan's industrial environment and advantages. He believed that Taiwan possessed excellent engineering talent, lower costs, and flexible manufacturing capabilities—conditions highly suitable for developing a semiconductor manufacturing industry.

Conceiving the Foundry Model:
During his time at ITRI, Chang began contemplating a revolutionary business model: professional wafer foundry services. This idea stemmed from his profound insight into industry trends and was the crystallization of his years of industry experience.

The Importance of Government Support:
Chang recognized that developing the semiconductor industry required full government support, including capital investment, policy coordination, and talent cultivation. He communicated closely with government officials to secure a unique structure for TSMC's establishment, involving technology licensing from ITRI and government equity investment.

The Birth of TSMC: Innovation in 1987

Innovation in the Pure-Play Foundry Model

Breakthrough in the Foundry Concept:
In 1987, Morris Chang proposed the innovative concept of "professional wafer foundry."⁹⁹ Unlike the traditional Integrated Device Manufacturer (IDM) model, TSMC would focus on manufacturing chips for customers without designing its own products.

The Revolutionary Nature of the Business Model:
The revolutionary aspect of this model was that it allowed many companies without the capacity to build fabrication plants to design advanced chips. This significantly lowered the barrier to entry for the semiconductor industry, enabling chip design companies to experience exponential growth from the 1990s through the 2020s.

Impact on the Industry Ecosystem:
The pure-play foundry model created an entirely new industrial ecosystem, allowing design companies to focus on innovation and foundries to focus on manufacturing, achieving specialized division of labor and increasing the efficiency of the entire industry.

The Founding Process of TSTSMC

The Historic Moment of February 21, 1987:
On February 21, 1987, Taiwan Semiconductor Manufacturing Company was officially established with an initial capital of NT$22 billion.¹⁰¹⁰ This was the result of collaboration between the government, private enterprises, and foreign investors.

Designing the Equity Structure:
TSMC's equity structure included ITRI, the Dutch company Philips, and Taiwanese private enterprises.¹¹¹¹ This diversified ownership brought technology, capital, and market resources to TSMC.

Morris Chang's Dual Role:
Morris Chang served as Chairman and President (later changed to CEO) of TSMC, responsible for the company's overall strategy and daily operations. His leadership style combined the efficiency of American management with the wisdom of Chinese culture.

The Development of TSMC

Early Challenges and Breakthroughs

1987-1990: The Difficult Startup Period:
TSMC faced immense challenges in its early years. Pure-play foundry was a brand-new business model; the market was skeptical, and customers needed time to accept the concept. Chang had to simultaneously build manufacturing capabilities and persuade customers.

Establishing Technical Capabilities:
TSMC's initial technology came from transfers from ITRI and cooperation with Philips. Chang led his team to rapidly learn and improve process technologies, establishing reliable manufacturing capabilities.

Developing the First Batch of Customers:
TSMC's first customers were primarily American "fabless" semiconductor companies. These companies precisely needed professional foundry services, providing TSMC with its early business foundation.

Rapid Development in the 1990s

The Technology Leadership Strategy:
In the 1990s, Morris Chang formulated a "technology leadership" strategy, investing heavily in R&D to ensure TSMC did not fall behind competitors in any process generation. TSTSMC built multiple fabs across Taiwan, and its customer base expanded from early American fabless companies to global major design firms such as Qualcomm, Broadcom, and NVIDIA.

Leadership in the 21st Century

Competition in Advanced Processes:
Entering the 21st century, the development of semiconductor process technology became increasingly difficult and expensive. Relying on R&D investment higher than the industry average each year, TSMC maintained its leadership in advanced processes.

Breakthroughs from 28nm to 5nm:
From 28nm to 16nm, 7nm, and then to 5nm and 3nm, TSMC maintained technical leadership in every generation of advanced processes, consolidating its position in the high-end market.

The Apple Partnership Milestone:
The partnership with Apple began with the A-series chips in 2013; TSMC's manufacturing of core processors for iPhone and iPad brought massive order volumes and subjected TSMC's advanced process capabilities to the most rigorous commercial validation. ¹²

Management Philosophy and Corporate Culture

Commitment to Technological Innovation

Emphasis on R&D Investment:
Morris Chang has always emphasized the importance of technological innovation, with TSMC investing approximately 8% of its annual revenue into R&D to ensure it does not lag behind competitors. ¹³ In an era where Moore's Law faces physical limits, Morris Chang led TSMC through successive breakthroughs in 7nm, 5nm, and 3nm processes, providing manufacturing capabilities for the development of the entire semiconductor industry.

Balancing Technology and Market:
Morris Chang is adept at finding the balance between technological leadership and market demand—maintaining a technical edge while ensuring the commercial value of that technology to avoid excessive costs caused by being too far ahead.

Talent Cultivation and Corporate Culture

A Culture of Integrity and Honesty:
Morris Chang established a corporate culture centered on integrity and honesty at TSMC. He emphasized core values such as "Integrity, Commitment, Innovation, and Customer Trust," which became the cultural cornerstone of TS．

Emphasis on Talent Development:
Morris Chang places great importance on talent cultivation, establishing a systematic engineer training and promotion system at TSMC. He believes that people are the core competitiveness of an enterprise; while TSMC's turnover rate remains much lower than the industry average, it has also cultivated the core leadership team that later led TSMC, such as Liu, Young-tai and C.C. Wei.

Internationalized Management Style:
Morris Chang introduced the efficiency and transparency of American management to TSMC, establishing a modern corporate governance structure. Simultaneously, he integrated the wisdom of Chinese culture to create a unique corporate identity.

Strategic Thinking and Execution

Formulating Long-Term Strategies:
Morris Chang possesses extraordinary strategic thinking abilities, enabling him to perceive industry trends and formulate long-term development strategies. TSMC's "technology leadership" strategy is an embodiment of his strategic vision.

Emphasis on Execution:
Beyond strategy formulation, Morris Chang also places great importance on execution. He established a precise management system that ensures technical blueprints move from decision to the fabrication plant, which is the key reason TSMC can keep pace with every process generation.

Wisdom in Crisis Management:
When facing various crises and challenges, Morris Chang demonstrated exceptional leadership and crisis management wisdom, leading TSMC through multiple difficult periods and maintaining stable corporate development.

Retirement and Succession

The First Retirement in 2005

Initiating the Succession Plan:
In 2005, at age 74, Morris Chang announced his retirement, handing the CEO position to Chi Chin-ling.¹⁴¹⁴ This was part of a carefully prepared succession plan, reflecting his sense of responsibility for the company's long-term sustainability.

Retaining the Chairman Position:
Although stepping down as CEO, Morris Chang retained the role of Chairman, continuing to participate in major strategic decisions and providing guidance and support to the succession team.

Arrangements for Retirement Life:
After retiring, Morris Chang did not completely leave business activities; he attended international forums such as APEC as a representative of Taiwan and shared his views on geopolitics and the future of semiconductors in numerous speeches.

The Return in 2009

The Challenge of the Financial Crisis:
The 2008 global financial crisis had a significant impact on TSMC, with the company facing the dual challenges of declining performance and intensifying competition. At this critical moment, Morris Chang decided to return.

Resuming the CEO Role:
In 2009, at age 78, Morris Chang resumed the role of CEO of TSMC¹⁵¹⁵, personally leading the company through the difficult period. His return stabilized market confidence and provided leadership for the company's recovery.

Cultivating Liu, Young-tai and C.C. Wei:
During his second term, Morris Chang focused on cultivating successors such as Liu, Young-tai and C.C. Wei, preparing talent for the company's future development.

Formal Retirement in 2018

Completion of the Succession Plan:
In June 2018, at age <0xA0>87, Morris Chang formally retired, ending his legendary 31-year career at TSMC.¹⁶ He handed the chairmanship to Liu, Young-tai and the CEO position to C.C. Wei.

Establishment of the Dual-Leadership System:
Morris Chang established a "dual-leadership system," where Liu, Young-tai serves as Chairman for external affairs and C.C. Wei serves as CEO for internal operations; this structural arrangement has aided the company's stable development.

A Model of Graceful Exit:
Morris Chang's retirement is regarded as a model for corporate succession; he exited at the appropriate time, allowing the new generation of leaders sufficient space to perform while ensuring a stable transition for the enterprise.

Impact on the Global Semiconductor Industry

Innovation in Business Models

Popularization of the Foundry Model:
The pure-play foundry model created by Morris Chang has become one of the standard business models in the semiconductor industry. Hundreds of fabless companies worldwide rely on foundry services, a model that has greatly promoted industrial development.

Reshaping the Industry Ecosystem:
The pure-scale foundry model reshaped the semiconductor ecosystem, promoting specialized division of labor, increasing industry efficiency, and lowering the barrier to innovation, allowing more companies to participate in chip design.

Establishment of a Global Supply Chain:
TSMC has become a critical node in the global semiconductor supply chain, providing manufacturing services to technology companies worldwide, establishing a truly globalized semiconductor industry supply chain.

Driving Technological Progress

Leadership in Process Technology:
Under Morris Chang's leadership, TSMC maintained a global lead in process technology, driving technological progress across the entire semiconductor industry and extending the life of Moore's Law.

Democratization of Advanced Processes:
TSMC's advanced process services allow even smaller design companies to use the latest technologies, achieving the "democratization" of advanced processes—a fabless startup with only dozens of employees can have TSMC mass-produce 7nm chips.

Pioneering New Technological Fields:
TSMC's manufacturing capabilities cover various application areas, including digital chips, AI accelerators, and automotive semiconductors, providing a manufacturing foundation for various emerging technologies.

Significance to Taiwan: The Founder of a Tech Island

Development of the Technology Industry

Establishing the National Defense Mountain:
TSMC is called Taiwan's "National Defense Mountain" not only because of its immense economic value but also because of its critical position in the global technology supply chain. Morris Chang established this strategic asset for Taiwan, which is the most irreplaceable component beyond national defense.

Cultivation of Tech Talent:
The development of TSMC has cultivated a vast number of semiconductor professionals; these talents not only support TSMC's growth but also provide the talent foundation for Taiwan's entire technology industry.

Formation of Industrial Clusters:
Centering around TSMC, Taiwan has formed a semiconductor industrial cluster encompassing equipment suppliers, material suppliers, and packaging and testing plants, creating immense industrial value.

Contribution to Economic Development

Significant Contribution to GDP:
TSMC has become Taiwan's largest enterprise, making a vital contribution to Taiwan's GDP. The company's success also drives the development of related industries, creating massive employment opportunities.

A Pillar of Export Trade:
Semiconductors account for approximately one-third of Taiwan's total exports; TSMC's success has significantly enhanced Taiwan's position in global trade and strengthened Taiwan's economic competitiveness. ¹⁷

Improvement of the Investment Environment:
The success of TSMC has attracted more international investment, improving Taiwan's investment environment and elevating Taiwan's standing in the eyes of global investors.

Geopolitical Impact

The Importance of Technological Sovereignty:
In the current geopolitical environment, semiconductor technology has become a core bargaining chip in great power competition. TSMC's mastery of the world's most advanced processes gives Taiwan an irreplaceable strategic position in the international community.

Leverage in International Relations:
TSMC's critical role in the global technology supply chain grants Taiwan a voice on semiconductor issues that great powers must respect. The fact that the U.S., EU, and Japan have successively used subsidies to invite TSMC to build fabs demonstrates the true weight of this position.

Considerations for Security Strategy:
The emphasis placed by various nations on semiconductor technology also presents Taiwan with new security challenges and opportunities. How to balance various interests and maintain TSMC's competitive advantage is one of the core issues of Taiwan's diplomacy and security policy.

Personal Traits and Leadership Style

Combination of Vision and Execution

Excellence in Strategic Vision:
Morris Chang's greatest trait is his extraordinary strategic vision. He can perceive industry trends and foresee future development directions; this foresight is a key factor in TSMC's success.

Pragmatic Execution Capability:
In addition to vision, Morris Chang possesses excellent execution capabilities. He can translate strategic concepts into concrete action plans and track every execution detail—a combination of strategic thinking and execution that is quite rare in the business world.

Attitude of Lifelong Learning:
Even at an advanced age, Morris Chang maintains the habit of extensive reading and staying focused on industry developments. He has publicly stated that he is still learning literature and philosophy; this attitude ensures his thinking remains sharp even in his later years.

Characteristics of Leadership Style

Charismatic Leadership:
Morris Chang possesses strong personal charisma and persuasiveness, capable of inspiring teams to work toward common goals. His speeches and writings always clearly express complex concepts, earning him great respect from employees and industry professionals.

Commitment to Rational Decision-Making:
When facing major decisions, Morris Chang always insists on rational analysis, making judgments based on facts and data to avoid emotional or political considerations affecting the correctness of decisions.

Practice of Long-Term Thinking:
Morris Chang consistently adheres to long-term thinking, unswayed by short-term difficulties or interests. During the depths of the 2008 financial crisis, he still approved R&D budgets for advanced processes; it was this long-term perspective that allowed TSMC to widen the gap with its competitors after the crisis.

Honors and Recognition

International Awards and Recognition

IEEE Medal of Honor:
Morris Chang has received several prestigious medals from the Institute of Electrical and Electronics Engineers (IEEE), which is significant recognition of his contributions to the development of semiconductor technology.

Honorary Doctorates from Various Countries:
Numerous renowned universities, including Stanford University, MIT, and Tsinghua University, have conferred honorary doctorates upon Morris Chang in recognition of his contributions to the technology industry and education.

Selections by Business Magazines:
Morris Chang has been repeatedly listed by international business magazines such as Fortune and BusinessWeek as one of the top technology industry leaders of the modern era, establishing his position in the global business community.

Recognition in Taiwan

Awarding of Government Medals:
The Taiwanese government has awarded Morris Chang several important medals to honor his extraordinary contributions to Taiwan's economic development and technological progress.

Esteem within the Industry:
Morris Chang is revered by the Taiwanese industry as the "godfather of semiconductors"; his experience and wisdom serve as a model for subsequent generations of entrepreneurs.

Recognition of Social Influence:
Beyond business achievements, Morris Chang's social influence is widely recognized; his contributions to the development of Taiwanese society are highly valued across all sectors.

Philosophical Reflections and Life Wisdom

Understanding Success

Combination of Ability and Opportunity:
Morris Chang believes that success requires a combination of ability and opportunity; ability is the foundation, but one must also seize the moment. He emphasizes the importance of preparation—opportunities always favor those who are prepared.

The Value of Long-Term Persistence:
He emphasizes the importance of long-term persistence, believing that true success requires the accumulation of time and cannot be rushed. The success of TSMC is the result of long-term persistence.

The Necessity of Innovation:
Morris Chang believes that in the technology industry, innovation is a necessity for survival. The history of TSTSMC demonstrates: if one stops making breakthroughs in processes, competitors will fill the void.

Insights into Life

Work-Life Balance:
While highly successful in his career, Morris Chang also emphasizes the importance of work-life balance. He enjoys reading and listening to music; these hobbies provide him with spiritual nourishment.

Bearing Social Responsibility:
Morris Chang believes that successful entrepreneurs have a responsibility to give back to society. Under his leadership TSMC donated to academic institutions such as National Tsing Hua University and participates in discussions on education policy, offering specific suggestions for the reform of higher education in Taiwan. ¹⁸

The Importance of Succession:
He places great importance on the transmission of knowledge and experience, not only by cultivating successors within the company but also by sharing his experiences and wisdom through various channels.

Historical Evaluation

When Morris Chang retired in 2018, TSMC's market capitalization surpassed Intel's, making it the most valuable semiconductor company in the world. ¹⁹ Over 31 years, he verified a counter-intuitive proposition: a foundry that does not design its own chips can become the manufacturing foundation for the entire digital age.

From Ningbo, Zhejiang to Harvard and MIT, and from an executive at Texas Instruments to abandoning a comfortable life in the U.S. to return to Taiwan at age 54—each of his pivots was not the mainstream choice, yet every result pointed toward the same direction. TSMC's position today is both the result of semiconductor technology competition and the result of his bet on a business model that few believed in back in 1987.

In 2024, TSMC's market capitalization exceeded NT$10 trillion, becoming one of the most valuable technology companies in Asia²⁰²⁰; this scale was unimaginable when he made that bet in 1987 and serves as the clearest footnote to his life.

References

References:

Morris Chang was born on July 10, 1931, in Ningbo, Zhejiang, China. See: Wikipedia "Morris Chang" entry https://zh.wikipedia.org/zh-hant/%E5%BC%B5%E5%BF%A0%E8%AC%80 ↩²
In 1949 he entered Harvard to study literature, then transferred to MIT for mechanical engineering. See: Wikipedia "Morris Chang" entry https://zh.wikipedia.org/zh-hant/%E5%BC%B5%E5%BF%A0%E8%AC%80 ↩²
He earned a BS in mechanical engineering from MIT in 1952. See: Wikipedia "Morris Chang" entry https://zh.wikipedia.org/zh-hant/%E5%BC%B5%E5%BF%A0%E8%AC%80 ↩²
From 1955 he worked in semiconductor manufacturing at Sylvania for about three years. See: Wikipedia "Morris Chang" entry https://zh.wikipedia.org/zh-hant/%E5%BC%B5%E5%BF%A0%E8%AC%80 ↩²
In 1958 he joined Texas Instruments as a semiconductor engineer. See: Wikipedia "Morris Chang" entry https://zh.wikipedia.org/zh-hant/%E5%BC%B5%E5%BF%A0%E8%AC%80 ↩²
He received a PhD in electrical engineering from Stanford University in 1964. See: Wikipedia "Morris Chang" entry https://en.wikipedia.org/wiki/Morris_Chang ↩
In 1972 he was promoted to TI group vice president and general manager of the semiconductor group. See: Wikipedia "Morris Chang" entry https://zh.wikipedia.org/zh-hant/%E5%BC%B5%E5%BF%A0%E8%AC%80 ↩²
Sun Yun-suan (1913–2006), premier of Taiwan (1978–1984), strongly promoted semiconductor and high-tech industry development. See: Wikipedia "Sun Yun-suan" entry https://zh.wikipedia.org/wiki/%E5%AD%AB%E9%81%8B%E7%92%87 ↩
In 1987 Morris Chang proposed the dedicated pure-play foundry business model. See: Wikipedia "Taiwan Semiconductor Manufacturing Company" entry https://zh.wikipedia.org/wiki/%E5%8F%B0%E7%81%A3%E7%A9%8D%E9%AB%94%E9%9B%BB%E8%B7%AF%E8%A3%BD%E9%80%A0 ↩²
TSMC was founded on February 21, 1987, with initial capital of NT$22 billion. See: Wikipedia "Taiwan Semiconductor Manufacturing Company" entry https://zh.wikipedia.org/wiki/%E5%8F%B0%E7%81%A3%E7%A9%8D%E9%AB%94%E9%9B%BB%E8%B7%AF%E8%A3%BD%E9%80%A0 ↩²
Philips was among TSMC's founding shareholders. See: Wikipedia "Taiwan Semiconductor Manufacturing Company" entry https://zh.wikipedia.org/wiki/%E5%8F%B0%E7%81%A3%E7%A9%8D%E9%AB%94%E9%9B%BB%E8%B7%AF%E8%A3%BD%E9%80%A0 ↩²
From the 2010s TSMC became a major supplier of Apple A-series mobile processors. See: Wikipedia "Taiwan Semiconductor Manufacturing Company" entry https://zh.wikipedia.org/wiki/%E5%8F%B0%E7%81%A3%E7%A9%8D%E9%AB%94%E9%9B%BB%E8%B7%AF%E8%A3%BD%E9%80%A0 ↩
TSMC has long invested roughly 8% of revenue in R&D (annual reports vary slightly). See: Wikipedia "Taiwan Semiconductor Manufacturing Company" entry https://zh.wikipedia.org/wiki/%E5%8F%B0%E7%81%A3%E7%A9%8D%E9%AB%94%E9%9B%BB%E8%B7%AF%E8%A3%BD%E9%80%A0 ↩
In 2005 Morris Chang stepped down as CEO and was succeeded by Rick Tsai. See: Wikipedia "Morris Chang" entry https://zh.wikipedia.org/zh-hant/%E5%BC%B5%E5%BF%A0%E8%AC%80 ↩²
In 2009, at age 78, he returned as TSMC CEO amid the global financial crisis. See: Wikipedia "Morris Chang" entry https://zh.wikipedia.org/zh-hant/%E5%BC%B5%E5%BF%A0%E8%AC%80 ↩²
On June 5, 2018, he formally retired; Mark Liu became chairman and C. C. Wei became CEO. See: Wikipedia "Morris Chang" entry https://zh.wikipedia.org/zh-hant/%E5%BC%B5%E5%BF%A0%E8%AC%80 ↩
Economy of Taiwan — Wikipedia — Semiconductors account for roughly one-third of Taiwan's exports over many years.↩
TSMC Building dedication — National Tsing Hua University — TSMC the company donated NT$180 million to build NTHU's College of Technology Management "TSMC Building", dedicated April 2008; the donor was TSMC, not Morris Chang personally.↩
When Morris Chang retired in 2018, TSMC's market cap had surpassed Intel's. See: Wikipedia "Taiwan Semiconductor Manufacturing Company" entry https://zh.wikipedia.org/wiki/%E5%8F%B0%E7%81%A3%E7%A9%8D%E9%AB%94%E9%9B%BB%E8%B7%AF%E8%A3%BD%E9%80%A0 ↩
In the 2020s TSMC's market capitalization exceeded NT$10 trillion, among Asia's most valuable tech companies. See: Wikipedia "Taiwan Semiconductor Manufacturing Company" entry https://zh.wikipedia.org/wiki/%E5%8F%B0%E7%81%A3%E7%A9%8D%E9%AB%94%E9%9B%BB%E8%B7%AF%E8%A3%BD%E9%80%A0 ↩²