Singapore’s Richest Families

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If you have watched the movie ‘Crazy Rich Asians’, you would have wondered if there is actually any family who are that rich. The truth is, there are a few!

The rich get richer

It may be cliché but it is true. The rich always get richer and this doesn’t really stop because they have it made through hard work and a lot of determination. Here are the few wealthiest families in Singapore and what made them who they are.

The Lim family

Peter Lim, a former stockbroker became rich when he ventured into property and healthcare but it is his investment into sports entertainment that took the cake. Among all the wealthy families in Singapore, Peter Lim’s daughter probably has the most extravagant lifestyle.

Kim is no stranger to the high-socialite lifestyle and circle. Peter Lim meanwhile is the owner of the Spanish La Liga club, Valencia FC and he is a strong advocate to the local sports industry as well.
Fact: Kim has more than 200,000 followers on her Instagram account.

The Kwek Family

Kwek Leng Beng is currently the Executive Chairman of the Hong Leong Group. This is the development and financial group which was started in 1941 by his father. The company owns the second largest property development company in Singapore, City Developments which is currently run by his son Sherman Kwek as the group CEO.
Fact: The group’s Malaysian arm, Hong Leong Group Malaysia is run by Quek Leng Chan, who is Leng Beng’s cousin.

The Ng family

The Ng Family is known for being the owners of the largest private property developer in Singapore with the Far East Organization. Worth about SGD 16 billion, the family members are the directors of the company with business in Hong Kong under the Sino Group headed by one of the brothers.

The business comes from the father, Ng Teng Fong and passed down to the 4 siblings where they are currently involved in very diversified business areas including:

  • Novena Medical Center
  • Novena Specialist Center
  • Yeo’s
  • Kitchen Language

Fact: Ng Teng Fong is of China origin and was known as the ‘King of Orchard Road’.

The Goh family

It is not common to hear of anyone making billions from the paint business, but if you are the one who brought the Nippon name into the region, you would surely be someone rich.

Goh Cheng Liang keeps a low profile of his riches but with a net worth of more than SGD11 billion, it is hard not to be a famous family in Singapore.

Goh is the typical story of rags-to-riches as he once sold fishing nets and had several failed businesses before striking it rich with Nippon Paint. The business is now run by his son. The Goh family contributed to the community when the Goh Foundation contributed SGD50 million to the National Cancer Centre of Singapore.
Fact: The family has been focused on the paint business which has continued to bring in the wealth.

The Khoo family

Khoo Teck Puat made his riches from the banking industry. Once the richest man in Singapore, the family’s net worth is said to be around SGD9 billion and they have ventured into other areas, most notably into hotel and tourism.

Khoo’s daughters Elizabeth and Mavis manage hotels while his son is a filmmaker.
Fact: Khoo is the founder of one of the most iconic banks in Malaysia, Maybank Berhad.

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