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{{short description|Chinese-American businessman and billionaire (1944–2018)}}
{{about|the businessman}}
{{
{{Infobox person
| name = Charles Wang
| image = Charles Wang interviewed by Stony Brook University.jpg
| caption = Wang in 2016
| native_name = 王嘉廉
| birth_name =
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| occupation = {{unbulleted list|Owner, [[New York Islanders]]|Investor}}
| known_for = Co-founder, [[CA Technologies]]
| spouse = Ingrid S. Wang (div)<br>Nancy Li
| children =
| module = {{Infobox Chinese
|child=yes
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}}
}}
'''Charles B. Wang''' ({{zh|c=王嘉廉|p=Wáng Jiālián}}; August 19, 1944 – October 21, 2018) was a Chinese-American billionaire, businessman, and philanthropist, who was a co-founder and CEO of Computer Associates International, Inc. (later renamed
In 1976, at age 31, Wang (pronounced "Wong") launched [[Computer Associates]], using credit cards for funding. Wang then grew Computer Associates into one of the country's largest ISVs ([[independent software
== Early life ==
Charles B. Wang was born in [[Shanghai]] to parents Kenneth and Mary Wang. He has two brothers, Anthony W. Wang and Francis Wang. His father was a [[Supreme Court of the Republic of China|Supreme Court]] judge in the [[Republic of China (1912-49)|Republic of China]]. In the closing years of the [[Chinese Civil War]] which saw the [[Nationalist government]] flee to [[Taiwan]], the Wangs moved to [[Queens]], [[New York City]]
== Business ==
=== Computer Associates ===
{{Unreferenced section|date=February 2021}}
Wang and his business partner [[Russell Artzt]] established [[Computer Associates]] in 1976, guiding the company toward its current standing as one of the largest [[
Wang's tenure as CEO of Computer Associates was marked by rapid growth, frequently as a result of strict hiring practices and high expectations for executives of acquired companies. Nearly all of Computer Associates' managers were promoted from within, so very few acquired managers were kept. Newly hired salespeople had some sales experience, but specifically not in software. A Master's Degree in Business Administration held little to no value at CA, so employment candidates and acquired employees with MBAs were typically rejected. It was unusual for a technician to be considered for sales because the firm's training program was geared toward products instead of professional selling. The pass/fail demarcation was sharp, so perceived inadequate sales performance meant termination. All told, Wang engaged in several dozen acquisitions and those acquired facilities were repopulated with Computer Associates employees.
He was also known for his commitment to a family-oriented management style, and for promoting several women to management positions. In 1979, three years after the company's founding, Wang had installed his older brother Tony, a one-time corporate lawyer, as president and COO. Tony held the position until his retirement in 1992 to make way for [[Sanjay Kumar (business executive)|Sanjay Kumar]], who joined the company via its 1987 surprising acquisition of archrival [[Uccel]] Corporation. In 1998, Nancy Li, Charles Wang's second wife, was named the company's [[Chief Technology Officer]] ("CTO"). Responding to criticism over his so-called "paternalistic" management style, Wang had argued that the investment community punished Computer Associate's stock price because of his refusal to override his sense of familial loyalty to avoid the appearance of nepotism.<ref>{{cite
In 1998, Wang had initiated a $9 billion hostile takeover for the shares of [[Computer Sciences Corporation]] (CSC).
In 2000, a [[class-action]] lawsuit accused Wang, then president Kumar and co-founder Artzt of wrongly reporting more than $2.5 billion in revenue in its 1997, 1998, 1999 and 2000 fiscal (April through March) years in order to artificially inflate the stock price. A previous stock option set in 1995 specified that a certain number of shares would vest when Computer Associates' shares sustained a target price. The benchmark was met in 1998, and the three executives combined received nearly $1 billion in Computer Associates stock with Wang himself netting $700 million; he had already been the highest paid CEO in the U.S. for the prior four years.<ref>{{Cite news|url=https://www.nytimes.com/2004/04/08/technology/08compute.html|title=3 Guilty Pleas Expected Today in Computer Associates Case|author=Alex Berenson|date=April 8, 2004|
Kumar resigned as chairman and chief executive in April 2004, following an investigation into the accounting scandal which improperly reported revenue. A federal [[grand jury]] in [[Brooklyn]] indicted Kumar on fraud charges on September 22, 2004.<ref>{{cite news|url=https://money.cnn.com/2004/09/22/technology/kumar/index.htm?cnn=yes|title=CA's ex-CEO is indicted on fraud|date=September 22, 2004|work=CNN}}</ref> Kumar pleaded guilty to obstruction of justice and [[securities fraud]] charges on April 24, 2006.<ref>{{cite news|url=https://money.cnn.com/2006/04/24/technology/kumar/index.htm|title=Ex-CA chief Kumar pleads guilty|date=April 24, 2006|work=CNN}}
</ref>
=== New York Islanders ===
Wang was a minority owner of the [[New York Islanders]] of the [[National Hockey League]] (NHL) franchise, of which he had become a part-owner in 2000, and majority owner from 2001 to 2016. He later
According to former Islanders general manager [[Mike Milbury]], Wang "assumed that nobody could put a goal past a sumo wrestler". Milbury said that "He was a man of his word, a guy who desperately wanted to keep the team on the Island."<ref name="nytimes.com">{{Cite news| url = https://www.nytimes.com/2012/10/25/sports/hockey/charles-b-wang-the-islanders-unorthodox-owner.html?_r=4&|title=An Owner With Some Eyebrow-Raising Moves|author=Richard Sanomir|
Wang initially had a willingness to spend money with the goal of making the Islanders competitive; however, recent team payrolls decreased as the Islanders failed to reach the playoffs between the 2006–07 and 2012–13 seasons.
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Wang hired [[Neil Smith (hockey executive)|Neil Smith]] as the Islanders' general manager during the [[2006 Stanley Cup Finals]], but 40 days later Smith was fired due to his unwillingness to adhere to the "management by committee" style of Wang. Wang then gave the job to [[Garth Snow]], who subsequently retired from his playing position as the team's backup [[goaltender (ice hockey)|goaltender]]. Wang said that "philosophical differences" were the basis for firing Smith. This series of personnel moves, combined with Wang's approval of long-term contracts for [[Alexei Yashin]] and goaltender [[Rick DiPietro]] several years later, inspired a critical reaction from hockey journalists.<ref>{{cite news| url=https://www.nytimes.com/2006/07/20/sports/hockey/20islanders.html?_r=1&ref=neil_smith | work=The New York Times | first=Jason | last=Diamos | title=Owner of the Islanders Dares to Be Different | date=July 20, 2006}}</ref> Milbury reported that he had to talk Wang out of giving [[Michael Peca]] a ten-year deal.<ref name="nytimes.com"/>
A ''[[Forbes]]'' article investigated why certain [[NHL]] franchises could remain profitable despite poor attendance and overall league unprofitability. They found that several league owners under-reported their cable broadcast revenue; they specifically accused Wang of excluding half of the $17 million paid to the Islanders for the 2003 cable broadcast season. Wang made numerous efforts to build a new arena in Nassau County, as the Veterans Memorial Coliseum was the second-oldest active arena, and the Islanders lease ended in 2015.<ref>{{cite news |url= http://www.nydailynews.com/sports/hockey/new-york-islanders-owner-charles-wang-nassau-county-officials-pitch-400m-arena-project-article-1.146363 |title=New York Islanders owner Charles Wang, Nassau County officials pitch $400M arena project – New York Daily News|work=articles.nydailynews.com |year=2011 |
He was the master developer of [[The Lighthouse Project]], a property transformation of the [[Nassau Coliseum]] and surrounding {{convert|150|acre|km2}}. The project was to have included a five-star hotel; condominiums; an athletic complex featuring four ice rinks, a basketball facility, and a state-of-the-art health club that would have served as the Islanders' practice facility and would have also been open to the public. The development would also have included a sports technology center, open-air plaza, and conference center. The project was deemed to be too large by Town of [[Hempstead (town), New York|Hempstead]] Supervisor [[Kate Murray]], who made a counter-proposal that was about half the size of what Wang had originally intended. Wang balked at Murray's proposal, and decided to try to finance the building of a new arena for the Islanders with public funds, rather than paying for it himself as part of the Lighthouse Project. In May 2011, Wang, along with Nassau County, started an 82-day campaign for a $400 million bond to fund a new arena for the Islanders. On August 1, 2011, the proposal was defeated by a margin of 57% to 43%.<ref>{{cite news|last=Caldwell|first=Dave|title=Nassau Voters Reject Proposal to Fix Coliseum|url=https://www.nytimes.com/2011/08/02/nyregion/nassau-voters-reject-proposal-to-overhaul-coliseum.html?ref=sports|
Wang had stated that he would not have bought the team if he knew how difficult it would be, and would not do so if he had the choice over again.<ref>{{cite web|url=
In August 2014, the NHL announced that Wang had agreed to sell "a substantial minority interest in the team" to a group of investors, including [[Jon Ledecky]] and [[Scott D. Malkin]].
== Philanthropy ==
[[File:石溪大学王嘉廉中心.jpg|left|thumb|The [[Charles B. Wang Center]]]]
Wang was an active [[philanthropy|philanthropist]] and in 1999 established the [http://501c3lookup.org/charles_b_wang_foundation_a_delaware_non-for-profit_corp/ Charles B. Wang Foundation] with the goal of donating to numerous charities that focused on bettering the lives of children and the disenfranchised. He worked with such causes as [[Smile Train]], the [[World Childhood Foundation]], the [http://www.plainviewccc.org/ Plainview Chinese Cultural Center] {{Webarchive|url=https://web.archive.org/web/20130619091112/http://plainviewccc.org/ |date=2013-06-19 }} and the [[National Center for Missing and Exploited Children]], among others. His donation of over $50 million to [[Stony Brook University]] for the construction of the [[Charles B. Wang Center]] was, at the time, the largest in history to a [[State University of New York]] school. He also funded the expansion of the Chinatown Health Clinic which was renamed the [[Charles B. Wang Community Health Center]].▼
As the co-
▲Wang was an active [[philanthropy|philanthropist]] and in 1999 established the [http://501c3lookup.org/charles_b_wang_foundation_a_delaware_non-for-profit_corp/ Charles B. Wang Foundation] with the goal of donating to numerous charities that focused on bettering the lives of children and the disenfranchised. He worked with such causes as [[Smile Train]], the [[World Childhood Foundation]], the [http://www.plainviewccc.org/ Plainview Chinese Cultural Center] and the [[National Center for Missing and Exploited Children]], among others. His donation of over $50 million to [[Stony Brook University]] for the construction of the [[Charles B. Wang Center]] was, at the time, the largest in history to a [[State University of New York]] school. He also funded the expansion of the Chinatown Health Clinic which was renamed the [[Charles B. Wang Community Health Center]].
One of the more important attributes that Wang brought to his ownership of the Islanders was to expand their community-based programs through the Islanders
▲As the co-Founder and Chairman of [[Smile Train]] in 1999, Wang gave a $30 million initial gift to cover all administrative expenses and henceforth remained active in the charity's efforts to help children with cleft lip and palates, in more than 80 countries.
In 2000, Wang and his brothers, Anthony and Francis, donated a new law school to China's [[Soochow University (Suzhou)|Soochow University]] in honor of their father Kenneth Wang and in celebration of the university's 100th anniversary,<ref>{{cite web |url=http://aa2sbu.aasquared.org/WangLawSoochowPHTuan/ |title=Kenneth Wang School of Law – PH Tuan, Architect – Soochow University, Suzhou, China |
▲One of the more important attributes that Wang brought to his ownership of the Islanders was to expand their community-based programs through the Islanders Children’s Foundation, which started in 2003 and has become a mainstay. The Foundation works with children's health, education, and youth hockey development charities. In 2006, the team created [[Project Hope]], which is focused on developing ice hockey in China. Wang recruited women's professional hockey player, [[Angela Ruggiero]], to the project as well.<ref>{{cite web |url= http://www.ivy50.com/story.aspx?sid=1/23/2007|title= Angela Ruggiero |author= Brett Hoover |date= |work= |publisher= Ivy @ 50|accessdate=16 April 2010}}</ref>
== Awards and honors ==▼
▲In 2000, Wang and his brothers, Anthony and Francis, donated a new law school to China's [[Soochow University (Suzhou)|Soochow University]] in honor of their father Kenneth Wang and in celebration of the university's 100th anniversary,<ref>{{cite web |url=http://aa2sbu.aasquared.org/WangLawSoochowPHTuan/ |title=Kenneth Wang School of Law – PH Tuan, Architect – Soochow University, Suzhou, China |publisher=Aa2sbu.aasquared.org |date=2002-10-22 |accessdate=2012-06-20 |archive-url=https://web.archive.org/web/20110724213446/http://aa2sbu.aasquared.org/WangLawSoochowPHTuan/ |archive-date=2011-07-24 |url-status=dead }}</ref> it opened officially in 2003.
▲==Awards and honors==
On May 3, 2009, Wang was honored by the Los Angeles [[Chinese Historical Society of Southern California]] in "Celebrating Chinese Americans in Sports".<ref>[http://www.chssc.org/NewsNotes/NN_Master.htm CHSSC News and Notes April 2009] {{webarchive|url=https://web.archive.org/web/20110312075359/http://www.chssc.org/NewsNotes/NN_Master.htm |date=2011-03-12 }}</ref>
== Personal life and death ==
Wang's [[Cove Neck, New York|Cove Neck]] mansion on the [[Gold Coast (Long Island)|Gold Coast]] of [[Long Island]] is located near [[Sagamore Hill]], [[President of the United States|President]] [[Theodore Roosevelt]]'s home.<ref name="toughguy">{{cite
Wang died of lung cancer at his home in Cove Neck on October 21, 2018, at the age of 74.<ref>{{Cite news|url=https://www.newsday.com/long-island/computer-associates-charles-wang-1.22209693|title=Attorney: Charles B. Wang, former Islanders owner, dies|work=Newsday|access-date=2018-10-21|language=en}}</ref><ref>{{cite web |url=https://www.nytimes.com/aponline/2018/10/21/us/ap-us-obit-wang.html |title=Charles Wang, Former New York Islanders Owner, Dies at 74 - The New York Times |website=www.nytimes.com |url-status=dead |archive-url=https://web.archive.org/web/20181022234156/https://www.nytimes.com/aponline/2018/10/21/us/ap-us-obit-wang.html |archive-date=2018-10-22}}</ref>
Wang was survived by his mother; two brothers, Anthony and Francis; his wife, Nancy Li; and three children
== See also ==
* [[Chinese people in New York City]]
* [[Taiwanese people in New York City]]
== References ==
{{reflist}}
== External links ==
* [http://www.nyiprojecthope.com/ Charles B Wang Project Hope]
* [http://www.cbwchc.org/ Charles B Wang Community Health Center]
{{Authority control}}
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[[Category:Arena Football League executives]]
[[Category:Bridgeport Sound Tigers]]
[[Category:Businesspeople from Shanghai]]
[[Category:National Hockey League executives]]
[[Category:National Hockey League owners]]
[[Category:New York Islanders executives]]
[[Category:
[[Category:Sportspeople from Shanghai]]
[[Category:People from Oyster Bay (town), New York]]
[[Category:Queens College, City University of New York alumni]]
[[Category:Brooklyn Technical High School alumni]]
[[Category:Chinese Civil War refugees]]
[[Category:Deaths from lung cancer in New York (state)]]
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