Mayoral Candidate Weizhen Tang: Promising Economic Prosperity for Toronto

Weizhen Tang

“The Chinese Warren Buffett” (English edition)

At Lively Debate for Toronto’s Mayoral By-Election, May 27, 2023

TORONTO, ONTARIO, CANADA, June 23, 2023/ — Peter Morgan

Canada & World Report

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, a graduate of Central South University of Forestry and Technology in China, excelled as an assistant professor of microbiology. His journey continued as a visiting scholar at the University of Ohio, culminating in a Master’s Degree in Biology from the University of Waterloo in 1992. Tang’s expertise flourished as a researcher, unraveling human genetic diseases at prestigious institutions in Toronto.

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 and faced legal challenges. Even today, Tang still maintains his innocence for the treatment he experienced.

Following his complete freedom 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.

The highly anticipated Toronto Mayoral By-election is nearing its conclusion, with June 26 marking the last day for eligible voters to participate in this pivotal democratic event.

Throughout the campaign, candidates have engaged in spirited debates, showcasing their visions for the future of Toronto. The electorate has been actively following the discussions, weighing the merits of each candidate’s proposals and platforms.

As the deadline approaches, it is crucial for all eligible voters to exercise their democratic right and have their voices heard. The outcome of this by-election will shape the future trajectory of Toronto, impacting various aspects of governance, infrastructure, and community development.

Peter Morgan
Canada & World Report
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