Meet Singapore’s Richest Families
The Young family of Crazy Rich Asians might have made a splash in Hollywood but they aren’t the only crazy rich families in Singapore.
Here are 4 of Singapore’s richest families:
1. The Ng family
Industry: Property
Worth: S$16.24 billion
You can’t curate a list of rich Singaporeans without mentioning the Ng family. The folks are behind Far East Organization, Singapore’s largest private property developer.
FEO is currently headed by Philip Ng, with sisters Dorothy and Siok Giok serving as directors. The other brother, Robert Ng, manages operations of FEO’s Hong Kong counterpart, Sino Group.
The 4 Ng siblings have their father Ng Teng Fong to thank for their immense wealth. And they continue his tradition of philanthropy, with all 4 being active in community causes.
The Ng’s strategy to wealth seems to be diversification. Just look at all the industries FEO is involved in:
Chances are, every product you touch is linked to the Ng siblings. If only we could get our hands on their money that easily.
2. The Goh family
Industry: Paint
Net worth: S$11 billion
You’re probably not well-acquainted with Goh Cheng Liang, the man responsible for bringing Nippon paint to the region. Mr Goh keeps out of the public eye a lot, so tracking his family and finding out what they do is a challenge.
We do know a little bit about Mr Goh, 90, though:
- Born poor, he used to sell fishing nets during the Second World War
- He perseveres: before distributing Nippon, Mr Goh had many failed ventures
- He has a thing for luxury yachts
- His 20-year-old Goh Foundation gave S$50 million to the National Cancer Centre Singapore in 2014
Mr Goh’s son, Goh Hup Jin, is now the director of the board of Nippon Paint Holdings.
3. The Khoo family
Industry: Banking
Net worth: S$9.15 billion
The namesake of another public hospital is also the patriarch of one of Singapore’s richest families. This time, it’s Khoo Teck Puat, once dubbed Singapore’s richest man.
The elder Khoo was born into a comfortable family, as his father owned stakes in two Hokkien banks. These later merged to form an early OCBC. Khoo eventually started Maybank in 1960.
Khoo’s children have kept a relatively low-profile since, despite being part of one of Singapore’s richest families:
- Daughter Mavis chairs the Goodwood Group of Hotels
- Daughter Elizabeth also dabbles in hospitality as the managing director of York Hotel
- Son Eric is the most prominent of the three. A filmmaker, he is behind popular films 881 and Mee Pok Man
4. The Lim family
Industry: Healthcare, property
Net worth: S$3.3 billion
He might be grabbing headlines for his EPL dreams, but Peter Lim is laughing all the way to the bank.
A former stockbroker, he has amassed a fortune with his focus on property, healthcare and sports. And he’s dabbling in hospitality as well, developing an English building to a boutique hotel in the coming years.
An active giver to the local sports scene, Mr Lim raised eyebrows with his comments about Irfan Fandi’s “loneliness” at Braga FC.
Mr Lim’s daughter, Kim, is no stranger to tabloid fodder either. A socialite, she regularly shares photos of her opulent lifestyle on her Instagram page.
Lessons from Singapore’s richest families
If there’s one thing we can learn from these families, is that hard work and humility usually pay off. All 4 families are actively involved in philanthropy and enriching the community.
Be it sports, children’s welfare or medical research, they’re making a difference with the privilege they have. While enjoying the perks of that privilege.
Sounds like a pretty awesome deal.
Featred image from Kim Lim’s Instagram.
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