Goh Cheng Liang, founder of Wuthelam Group and the richest Singaporean according to Forbes, passed away at the age of 98 on Tuesday (12 Aug).
Wuthelam Group, the majority owner of Japan’s Nippon Paint Holdings, confirmed his death in a statement, revealing that he was surrounded by his loved ones at the time.
Source: Forbes
Mr Goh had an estimated net worth of US$13.5 billion (S$17.4 billion), making him one of the wealthiest figures in the country.
Mr Goh’s rise to wealth began in humble circumstances.
Once a fishnet seller and rubber tapper, he started his entrepreneurial journey in 1949 when he launched his Pigeon Brand paint business.
What began as a small, local venture gradually evolved into a major partnership with Nippon Paint, now the world’s fourth-largest paint maker.
Source: Shin Min Daily News on Facebook
In 1974, he founded Wuthelam Holdings, which grew into a global conglomerate.
Today, Wuthelam Group owns nearly 60% of Nippon Paint Holdings.
Beyond his business success, Mr Goh was also a dedicated philanthropist.
Source: Tatler Asia
In 1995, he established the Goh Foundation to fund medical research, particularly in cancer treatment, and to provide bursaries for underprivileged students, with the support of the late President Wee Kim Wee.
His philanthropic efforts were pivotal in the establishment of the National Cancer Centre Singapore and the Goh Cheng Liang Proton Therapy Centre.
Source: Wikipedia
Additionally, he supported cancer research for children, rheumatology studies, and palliative care initiatives.
Outside of Singapore, Mr Goh contributed to the development of infrastructure, educational facilities, and clean water projects in Dawu Village, his ancestral hometown in Chaozhou, China.
Mr Goh is survived by three children, eight grandchildren, and one great-grandchild.
His eldest son, Nippon Paint chairman Goh Hup Jin, shared:
My father was a beacon of kindness and strength. We are very fortunate to have had him show us how to be a good person. He taught us to live life with compassion and humility.
Also read: 5 lesser-known facts about Goh Cheng Liang, the richest man in S’pore linked to Nippon Paint
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Featured image adapted from the Goh family via Forbes.