Latest news with #NipponPaintHoldings
Buzz Feed
2 days ago
- Business
- Buzz Feed
Singapore's Billionaire Club Grows To 49 And Here's 5 We Know About
According to Forbes' 2025 annual list of global billionaires, Singapore is home to 49 billionaires, a notable increase from the 39 recorded in 2024. The collective wealth of these individuals has also seen a significant rise, reaching a total of US$145.2 billion in 2025, up from US$115.5 billion the previous year. This growth highlights Singapore's continued status as a magnet for wealth, attracting high-net-worth individuals from around the world. The city-state's stable political environment, sophisticated financial services, and strategic location in Asia contribute to its appeal as a global hub for business and a preferred residence for the ultra-rich. The influx of new billionaires in 2025, many of whom are from the tech and finance sectors, further solidifies this trend. Here are the top billionaires in Singapore, along with a brief overview of their background and source of wealth: 1. Goh Cheng Liang: The paints tycoon holds the top spot as Singapore's richest man. His fortune stems from a majority stake in Japan's Nippon Paint Holdings, one of the world's largest paint manufacturers. Goh started his journey in the paint industry by launching his own small factory in Singapore before partnering with Nippon Paint, a collaboration that became the foundation of his immense wealth. 2. Li Xiting: A co-founder and chairman of Shenzhen Mindray Bio-Medical Electronics, a leading medical devices firm. Li, a Singapore citizen, has built his wealth in the healthcare sector, with his company playing a significant role in providing medical equipment across the globe. Instagram: @ 3. Forrest Li: The founder, chairman, and CEO of Sea Ltd., a tech conglomerate behind popular brands like the e-commerce giant Shopee and gaming platform Garena. Li's net worth saw a substantial increase in 2025, reflecting the continued success and expansion of his internet company in the Southeast Asian market and Robert Ng: These brothers control the Far East Organization, Singapore's largest private landlord and property developer. Their vast wealth comes from the family's extensive real estate portfolio, which was established by their late father, Ng Teng Fong, and includes a significant presence on Singapore's famed Orchard Road. Instagram: @ 5. Zhang Yong: A restaurateur and chairman of Haidilao International Holding, a globally recognized hotpot chain. Originally from China, Zhang is a Singaporean citizen who has built a culinary empire with over 1,400 restaurants across Greater China and a growing international presence.
Daily Express
4 days ago
- Business
- Daily Express
Nippon Paint tycoon and Singapore's wealthiest man Goh Cheng Liang passes at 98
Published on: Tuesday, August 12, 2025 Published on: Tue, Aug 12, 2025 By: Malay Mail Text Size: Goh Cheng Liang, who held a majority stake in Japan's Nippon Paint Holdings, had an estimated net worth of US$13 billion, according to Forbes. SINGAPORE: Goh Cheng Liang, founder of Wuthelam Group and Singapore's richest person, died today at the age of 98, his family said, according to a report published in The Straits Times today. According to Forbes' 2025 ranking of the world's billionaires, Goh topped the list for Singapore with an estimated net worth of US$13 billion (RM55 billion). Advertisement He held a majority stake in Japan's Nippon Paint Holdings, which he helped build into a global coatings powerhouse. Born in 1927, he grew up in a rented shophouse room in River Valley and was sent to Johor during World War II, where he helped sell fishing nets. In 1949, he bought surplus paint from a British army auction and began making his own Pigeon Brand paints using a Chinese dictionary to decipher chemical names. His business boomed during the Korean War when imports were restricted. He later became Nippon Paint's distributor in Singapore and founded Wuthelam Holdings in 1974, building it into a multinational company with nearly 60 per cent of Nippon Paint. Goh's other ventures included developing and later selling the former Liang Court mall and Mount Elizabeth Hospital. Known for avoiding publicity, he told The Business Times in 1997 that he preferred private companies to public ones. Through the Goh Foundation, he funded cancer research, treatment facilities and scholarships, and supported welfare agencies in Singapore as well as roads, schools and sanitation systems in Chaozhou, China. A cancer survivor himself, he also backed the Goh Cheng Liang Proton Therapy Centre at the National Cancer Centre Singapore. He is survived by three children, eight grandchildren and a great-grandchild. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Sinar Daily
4 days ago
- Business
- Sinar Daily
Singapore paint tycoon Goh Cheng Liang dies at 98
Singapore paint and coatings maker Wuthelam Group, also founded by Goh, is the controlling shareholder of Japan's Nippon Paint Holdings, according to Forbes. 12 Aug 2025 04:42pm Singapore billionaire and founder of NIPSEA Group, Goh Cheng Liang, died on Tuesday at the age of 98. - Photo: Forbes (courtesy of Goh's family) SINGAPORE - Singapore billionaire and founder of NIPSEA Group, Goh Cheng Liang, died on Tuesday at the age of 98. The group in a statement said Goh "passed away peacefully earlier today, surrounded by his loved ones.' Goh, who had an estimated net worth of US$13 billion, was the richest Singaporean on Forbes' annual World's Billionaires List released in early April this year. Singapore paint and coatings maker Wuthelam Group, also founded by Goh, is the controlling shareholder of Japan's Nippon Paint Holdings, according to Forbes. Born in 1927, Goh grew up in a modest shophouse with his parents and four siblings before eventually launching his own paint business under the Pigeon Brand. His partnership with Nippon Paint Holdings in 1962 laid the foundation for the global presence it enjoys today. "Guided by his vision, the business expanded beyond Singapore and across Asia,' said NIPSEA Group, adding that he had transformed the company into Asia's largest and the world's fourth-largest paint manufacturer, with 148 companies across 28 geographical locations. Beyond business, Goh was a renowned philanthropist. He established the Goh Foundation to support causes close to his heart, particularly in healthcare and medical research. He also played a vital role in advancing cancer care in Singapore, supporting the National Cancer Centre Singapore and the Goh Cheng Liang Proton Therapy Centre, among others. Goh also contributed to institutions such as KK Women's and Children's Hospital, National University Hospital, and Singapore General Hospital's ARiSE programme. - BERNAMA
Hype Malaysia
4 days ago
- Business
- Hype Malaysia
Singapore's Richest Man & Nippon Paint Billionaire Goh Cheng Liang Passes Away At 98
Listed as the richest Singaporean by Forbes in its 2025 annual list of global billionaires, Goh Cheng Liang was the founder of paint and coatings maker Wuthelam Group and held a majority stake in Japan's Nippon Paint Holdings. As of August, he had a net worth of SGD$16.8 billion (approximately RM55.2 billion). According to reports, the billionaire sadly passed away earlier this morning (Tuesday, 12th August) at the age of 98. His family issued a statement regarding his passing, saying they were by his side when he took his final breath. He is survived by three children, eight grandchildren and one great-grandchild. 'He was a beacon of kindness and strength. We are very fortunate to have had him show us how to be good people – he taught us to live life with compassion and humility,' his eldest son, Goh Hup Jin, said in the statement. However, it was unclear whether the billionaire had been ill prior to his death, and his cause of death was not disclosed in the statement. His family mentioned that Goh Cheng Liang loved spending time with his grandchildren and enjoyed activities such as boating, fishing, eating good food and travelling. At the time of writing, there has been no update on his final resting place. Much like other success stories, Goh Cheng Liang grew up in poverty and spent the first 12 years of his life in a shophouse on River Valley Road with his parents and 4 siblings. After years of hard work, he set up his first paint shop in 1955 and became the main distributor for Nippon Paint, according to the brand's website. The rest, as they say, is history. We offer our deepest condolences to Goh Cheng Liang's family. May they have the strength to endure this challenging time, and may they continue to carry on his legacy. Sources: The Straits Times
The Star
4 days ago
- Business
- The Star
Goh Cheng Liang, Nippon Paint billionaire and richest Singaporean, dies aged 98
Goh Cheng Liang held a majority stake in Japan's Nippon Paint Holdings and had an estimated net worth of US$13 billion, according to Forbes. - LIANHE ZAOBAO FILE SINGAPORE: Goh Cheng Liang, the richest Singaporean according to Forbes' annual list of global billionaires in 2025, died at the age of 98 on Tuesday (Aug 12). The founder of paint and coatings company Wuthelam Group 'passed away this morning with family members by his side', according to a media release. Goh held a majority stake in Japan's Nippon Paint Holdings and had an estimated net worth of US$13 billion (S$16.7 billion), according to Forbes. He grew up in a shophouse in River Valley Road with his parents and four siblings. In 1949, Goh launched his Pigeon Brand paint business, which later evolved into a partnership with Nippon Paint, the world's fourth-largest paint maker. He founded Wuthelam Holdings in 1974 and built it into a global conglomerate. Wuthelam Group currently owns nearly 60 per cent of Nippon Paint Holdings. The family's other ventures included the former Liang Court and Mount Elizabeth Hospital, both of which Goh developed and later sold. Goh was also a philanthropist who funded medical research, particularly in cancer treatment, and provided bursaries and scholarships for underprivileged students, as well as donations to various welfare agencies. In 1995, with the late Singapore president Wee Kim Wee's help, he set up the Goh Foundation to provide a more structured approach to his philanthropic efforts. The Goh Foundation contributed to the establishment of the National Cancer Centre in Singapore and its subsequent expansion to include the Goh Cheng Liang Proton Therapy Centre. It also awarded grants to support children's cancer research at KK Women's and Children's Hospital, the Viva Foundation and the National University Hospital. Goh, who is a cancer survivor, championed research into better treatments for rheumatological and immunological conditions through the ARiSE programme at Singapore General Hospital. He also backed supportive and palliative care initiatives with the National Cancer Centre in collaboration with the SingHealth Duke-NUS Academic Medical Centre. Beyond his contributions in Singapore, Goh also funded roads, clean water supplies, sanitation systems and several schools in Dawu Village, his ancestral home in Chaozhou, China. Goh is survived by three children, Goh Hup Jin, Goh Chuen Jin and Goh Chiat Jin, as well as eight grandchildren and one great-grandchild. He loved spending time with his grandchildren, and enjoyed activities like boating, fishing, having good food and travelling. To his family and friends, he was a humble and private man known for his great sense of humour, according to the media release. His eldest son, Goh Hup Jin, said in the release that his 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,' he said. - The Straits Times/ANN
