Here's your Forbes Daily Briefing for Sunday October 27th.

Today on Forbes, how a Taiwanese immigrant became a multi-billionaire

supplying America with plastic pipes.

Earlier this month, President Biden announced a new rule from the Environmental Protection Agency

that will require the replacement of nearly all the lead pipes in the U.S. within 10 years, an effort to improve

the quality of drinking water.

One company that will almost surely benefit from the new regulation is Los Angeles-based

J.M. Eagle, one of the world's largest makers of plastic pipes.

J.M. Eagle CEO and owner, Walter Wang, who was 59 years old, made his debut on the Forbes 400 list of richest Americans

earlier this month with an estimated net worth of 3.6 billion dollars

landing him at number 374 on the list.

The majority of Wang's fortune comes from his ownership of the $2.3 billion in estimated revenue

J.M. Eagle.

The company employs 2,000 people across three countries,

and Forbes conservatively values it at $2.8 billion.

He also has a majority stake in P.T.M.

A plastic pipe maker in Mexico.

According to Wang, the new 10-year deadline to replace the pipes should boost his firm's revenue by 20 to 25 percent.

J.M. Eagle now has a roughly 10 percent market share of the plastics and pipe manufacturing industry in the US,

the largest percentage held by one company, according to a July report by research firm Ibis World.

All but 3% of its sales are generated in North America and 90% are in the U.S.

J.M. Eagle has been able to set itself apart in a commodity business that competes on price,

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