Sunday, February 5, 2023
  • Lifestyle
    • Food
    • Health
    • Home Improvement
    • Living
  • News
    • Politics
    • Science
    • Science
    • Streaming
    • Sports
  • Digital Marketing
    • SEO
    • White Hat SEO
    • Blogging
    • Link Building
    • SEO
    • Social Media Marketing
  • Travel Guides
  • Web Hosting
CONTACT US
No Result
View All Result
Home Articles

3 Singaporean Billionaires & Their Rags-to-Riches Stories

A photo featuring Midtown Manhattan in New York City. Includes much of Billionaire’s Row.Shot with DJI Mini 2

Photo by Garrett Lawrence on Unsplash

Singapore is an island of opportunities for those who seek it. Despite its lack of natural resources, many entrepreneurs have successfully made it big and became wealthy. Just like the tiny island, its people are resilient. 

Below are 3 Singaporean entrepreneurs who persevered through tough circumstances to become successful today.

  • Goh Cheng Liang

Goh Cheng Liang was born in Singapore but grew up in poverty. He sold fishnets and rubber tapper for income. After World War II, Cheng Liang bought cheap paint from the British army and started his own company. His first paint shop was set up in 1955 and then became the main distributor of Nippon Paint from Japan in 1962. By 2020, Nippon Paint is the 4th largest paint manufacturer in the world based on revenue and in the same year, with the help of his son, Wuthelam Holdings has fully acquired the Japanese manufacturing company, adding $3.8 billion to Cheng Liang’s overall net worth. 

  • Peter Lim

Peter Lim is a familiar public figure in Singapore’s media due to his and his daughter’s headline grabbing business or life updates. Starting out as a stockbroker, he is now a private investor in various sectors including property, healthcare, and sports. 

However, Peter grew up poor. Son of a fishmonger, he and 7 other siblings grew up in a 2-bedroom government flat in a public housing estate. Peter worked part-time doing odd jobs as a taxi driver, cook and waiter to fund his university studies. While working at an Australian restaurant, he learned how a business is run. After graduating with an accounting and finance degree, he began working as an accountant and did some tax consultancy before going into stocks. Peter became a billionaire after cashing out his US$10 million shares in Wilmar, then a start-up palm oil company. 

  • Choo Chong Ngen

Choo Chong Ngen was a kampong boy from Hougang, born to a carpenter and a housewife. With 6 siblings, life was tough financially for the family. However, Chong Ngen’s entrepreneurial spirit started early. Since the age of 10, he had begun selling ice cream, became a fishmonger, and sold textiles in a market. 

With the money he earned from the textile business and some loans, he bought his first shop space in Katong Shopping Centre at 21 years old. More real estate was added to his portfolio thereafter and he started developing apartment buildings. Inspired by a low-cost Japan hotel that he stayed in, he started his budget hotel chain, Hotel 81, in Geylang, Singapore. Today, he has expanded his business around the region with a total of 6 hotel brands; 38 hotel locations in Singapore alone. 

Conclusion

All 3 Singaporean entrepreneurs grew up poor and started from the bottom. With their skills, talents, and perseverance, they have become billionaires. All of them saw opportunities where others didn’t. Today, all 3 of them have their children helping them carry on their legacies. 

Opportunities in Singapore Today

Some might say opportunities have passed them by because Singapore is now a global city and business sectors are saturated and matured. However, this is not true. Many sectors have opened up or are being forced to evolve with the advent of Technology and it is up to individuals to seize these opportunities. These sectors include Information & Communications Technology, Sustainable Solutions & Green Energy, and Financial Services. 

Being an international financial hub, Singapore facilitates businesses not only with financial means but also regional and global network connections. 

For business incorporation in Singapore, contact Immigration@SG (IASG)

READ NEXT

oval brown wooden conference table and chairs inside conference room

Could Your Workplace Prove Safer

by Allen Brown
January 25, 2023
0

Owning a business requires one to wear many different hats. That said, one of the big responsibilities on your plate...

pexels pavel danilyuk 8111881

Does Your Law Firm Get Positive Reviews

by Allen Brown
January 22, 2023
0

There is no doubt that running a law firm can be quite the time-consuming job. That said, you want to...

XC5DojAXp06XbqzinsOHmHlGpYyKHiQ DFeLqK6wMaOQ2H6SYgneGHrZGNJQoSzWN9TwT feYzKNA3Abf9Fr10YxwwEsvUJLKujgKD54cdiB tqtyrGhCL4yEnVtTdZDrKSOMRvROYB80 lKnVPYRXAnGnWh uFBbHTl4dqG3NmmVDgO Bl BRXZJdXSQQ

How to get Azure Administrator Certification in 2023

by Allen Brown
January 14, 2023
0

IT workers who want to administer Azure subscriptions and services must earn the Azure Administrator certification. In the Microsoft ecosystem,...

woman using laptop

Are You Going the Extra Mile for Your Employees

by Allen Brown
January 11, 2023
0

Doing all you can for the people working for you should always be a top priority of yours. That said,...

invesment

Here are Some Tips on How You Can Diversify Your Portfolio by Investing in Alternative Assets

by Allen Brown
January 4, 2023
0

“Don’t put all your eggs in one basket” is one of the most famous and oldest proverbs in the investment...

group of childrens sitting on ground

The Secret to Taking Care of Children with ADHD Revealed: Experts Share Their Top Tips!

by Allen Brown
January 3, 2023
0

Attention deficit hyperactivity disorder (ADHD) is a neurodevelopmental disorder that affects millions of children and adolescents around the world. It...

Recent Posts

Planning a Cross Country Family RV Trip

January 29, 2023
oval brown wooden conference table and chairs inside conference room

Could Your Workplace Prove Safer

January 25, 2023
pexels pavel danilyuk 8111881

Does Your Law Firm Get Positive Reviews

January 22, 2023
web

10 Principles of Effective Web Design That Works for 2023

January 18, 2023
XC5DojAXp06XbqzinsOHmHlGpYyKHiQ DFeLqK6wMaOQ2H6SYgneGHrZGNJQoSzWN9TwT feYzKNA3Abf9Fr10YxwwEsvUJLKujgKD54cdiB tqtyrGhCL4yEnVtTdZDrKSOMRvROYB80 lKnVPYRXAnGnWh uFBbHTl4dqG3NmmVDgO Bl BRXZJdXSQQ

How to get Azure Administrator Certification in 2023

January 14, 2023
woman using laptop

Are You Going the Extra Mile for Your Employees

January 11, 2023
man in black crew neck t-shirt sitting beside woman in red crew neck t-shirt

Corporate Risk Management Software – A Practical and Effective Approach

January 6, 2023
pink and blue pig figurine

How to get a loan for your eCommerce business in India

January 5, 2023

Copyright © 2019-2022 Zone Desire.

Navigate Site

  • About
  • Advertise
  • Accessibility
  • Terms of use
  • Privacy policy

Follow Us

No Result
View All Result
  • News
    • Politics
    • Business
    • World
    • Science
  • Entertainment
    • Gaming
    • Music
    • Movie
    • Sports
  • Tech
    • Apps
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Food
    • Fashion
    • Health
    • Travel
  • About Us
  • Advertise with us

Copyright © 2019-2022 Zone Desire.