Hidden Chao Billionaires Unmasked as Westlake Soars on Plastics

Soaring demand for food packaging, dry-cleaning wrappers and imitation leather created three new U.S. billionaires this year.

The children of Ting Tsung “T.T.” Chao -- James Chao, 65, Albert Chao, 63, and Dorothy Chao Jenkins, 67 -- own a combined 70 percent of Houston-based Westlake Chemical Corp., North America’s largest producer of low density polyethylene. The chemicalmaker’s shares have risen almost 90 percent this year. Each has a net worth of at least $1.4 billion, according to the Bloomberg Billionaires Index.