 He was inaugurated on 19 February.As the ruling party on Taiwan, the KMT amassed a vast business empire of banks, investment companies, petrochemical firms, and television and radio stations, thought to have made it the world's richest political party, with assets once estimated to be around US$2–10 billion.Although this war chest appeared to help the KMT until the mid-1990s, it later led to accusations of corruption (often referred to as "black gold").