The idea that a self-made billionaire should run for president, in part because he or she isn’t beholden to parties or donors, always struck me as an American conceit. Think Ross Perot or Michael Bloomberg, neither of whom went the distance. Donald Trump’s candidacy ended up being as much about celebrity as business acumen. 

Now Taiwan is hearing the siren call of the tycoon-as-president. Terry Gou founded Foxconn, the electronics manufacturer that assembled the iPhone in your pocket. This week, he said he will run as an independent in January’s presidential election.

Mr. Gou’s candidacy isn’t a complete surprise. He has flirted with presidential runs in the past, and he tried to win the nomination of the main opposition party, the Kuomintang. But his late entry presents a wild card. Critics say Mr. Gou will simply split the opposition and hand victory to the current front-runner, William Lai of the Democratic Progressive Party.

The world will be watching, given the tensions over China’s territorial claims on Taiwan. While the Democratic Progressive Party favors independence, the Kuomintang is more conciliatory. Mr. Gou’s extensive business interests in China and personal ties to its leadership have also raised eyebrows. At his announcement, Mr. Gou said he had no “partisan baggage” and would seek peace not war with China. “The people’s interests are my biggest interests,” he said. 

His message may resonate with some voters. But those who view Beijing skeptically will likely need persuading that a business leader, not a politician, knows how best to navigate the stormy waters between Taiwan and China.