Terry Gou, centre, chairman of Foxconn, the world’s largest contract assembler of consumer electronics, poses with supporters for a photo after the company”s annual shareholders meeting in June. Gou has now abandoned his bid for the presidency of the self-ruled island [Chiang Ying-ying/AP Photo]

Former Foxconn Chief Executive Terry Gou, the richest man in Taiwan, has given up on his plan to run for the island’s presidency in elections scheduled for January 2020.

Gou announced his decision in a statement late on Monday, one day before the September 17 deadline to register for the race.

In a video message on Tuesday, he cited a bad election atmosphere, blaming personal and factional interests for dividing society, and said he could not bear to see

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