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Mayoral Candidate Weizhen Tang: Promising Economic Prosperity for Toronto

Friday, 23 June 2023 10:00 AM

Canada & World Report

TORONTO, ON / ACCESSWIRE / June 23, 2023 / Weizhen Tang, a biologist, academic, and financial entrepreneur, has recently announced his candidacy for the mayoral race in Toronto. With a bold promise to revitalize the city's economy, Tang is determined to "Make Toronto rich again." Drawing upon his unique life experiences and success in the financial sector, Tang believes he possesses the necessary skills to lead the city towards economic prosperity.

Tang graduated from Central South University of Forestry and Technology in 1982. He became an assistant professor of microbiology at the same university. In 1987, he studied as a visiting scholar at the University of Ohio. He completed his Master's Degree in Biology at the University of Waterloo in Canada in 1992. Afterwards, he worked as a researcher in human genetic diseases at Toronto General Hospital and Toronto Sick Kids Hospital.

In 1996, Tang decided to venture into the finance world and founded Weizhen Tang & Associates, Inc. Starting with a modest fund of $4,000 CDN, Tang's firm experienced steady growth, reaching an impressive $4 million within a year. His financial acumen captured the attention of Canadian investment firm Gorinsen, leading to a successful partnership in making stock investments for retail investors. Despite facing setbacks in the Asian financial crisis of 1997, Tang displayed resilience and reimbursed the losses of his partners and clients. Tang's reputation as a financial expert continued to flourish, and in 2006, he published his book "My Way to Buffettian Wealth" (Chinese edition) and "The Chinese Warren Buffett" (English edition) published in 2018.

In 2007, Weizhen Tang Financial Corp. was established in Toronto, followed by the official approval of Weizhen Tang Corp. by the Ontario Securities Commission (OSC) as a registered professional financial and limited market dealer in 2008. Tang's commitment to community involvement was evident through his active participation in charitable activities, including supporting disaster relief efforts in China and local community initiatives.

However, Tang's journey faced a setback during the global financial crisis. By 2009, his assets under management had reached nearly 60 million Canadian dollars, but unfortunate market circumstances led to the loss of his funds. In June 2009, the Ontario Securities Commission formally charged Tang with securities fraud and other related offenses. This ultimately resulted in a conviction and a six-year prison sentence in 2012. Finally, the OSC withdrew the quasi-criminal charges on August 22, 2013, and lifted all cease trading orders to his companies on September 18, 2015. Despite these legal challenges, even today, Tang still maintains his innocence for the treatment he experienced.

Following his complete freedom from the sentence in 2017, Tang became determined to utilize his rich life experiences for the betterment of Toronto. He strongly believes that the city requires effective leadership to address its political, economic, and social challenges. Drawing inspiration from former Mayor Mel Lastman, Tang emphasizes the importance of having business-oriented individuals in city council positions rather than mere "talk show" stars.

With Toronto facing a significant deficit of 1.5 billion dollars and an immediate challenge of 880 million dollars in 2023, Tang has unveiled his ambitious campaign platform. He aims to generate 10 billion dollars for the city within a year by investing in US equity index ETFs, specifically SPY. This investment strategy is intended to replace all property taxes, cover free TTC services, and address the deficit. Additionally, Tang promises to restore trust, preserve culture and passion, and prioritize the happiness and well-being of Torontonians.

Tang's vision extends beyond Toronto's borders, as he advocates for strengthening international cooperation with the United States, China, and other countries. He envisions Toronto as a model of international collaboration, highlighting China's potential as a valuable partner for global economic development.

Tang's candidacy has sparked both support and skepticism within the city. While some admire his entrepreneurial spirit and determination, others question his ability to effectively govern based on his past legal troubles. Nevertheless, Tang remains resolute in his belief that his experiences will greatly benefit Toronto's management and propel the city towards a prosperous future.

As the mayoral race heats up, Toronto residents eagerly await the upcoming election to determine who will lead their city and steer it towards a path of renewed economic success.


NAME: Peter Morgan
EMAIL: [email protected]

SOURCE: Canada & World Report

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