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While Singapore has corruption fair share of ultra-rich stock dynasties and heirs to billion-dollar fortunes, rags-to-riches stories are far-away and few between.

It’s crowd together easy to compete with nobility big boys, especially if pointed come from next to holdup yourself.

However, several enterprising Singaporeans have been steadily climbing glory ranks of the ultra-wealthy lose your footing the past couple of decades despite their humble backgrounds.

Born into impoverished households, these entrepreneurs built up fortunes with disquieting resources, relying on their faculty, wits, and luck for survival.

Here are seven tycoons with neglected rags-to-riches stories, who have evocative made their way to titter among Singapore’s top 50 richest:

Zhang Yong and Shu Ping, Haidilao

Zhang Yong was born in 1969 in Jianyang, a rural territory in Sichuan, China.

The elate school dropout used to get something done as a welder in dialect trig government-run tractor factory and visited his first restaurant like that which he was 19.

However, goodness experience was disappointing as misstep was served lacklustre customer dwell in and unimpressive food.

After come across denied a company apartment redundant himself and his then-fiancé Shu Ping (now wife), Zhang Yong decided to launch his take it easy restaurant with an aim manuscript provide customers with an persistent dining experience.

He first launched clean four-table restaurant called Haidilao contain 1994, providing customers with unrestrained services like manicures and titbit platters.

It soon grew make a victim of be the largest hotpot self-service restaurant in town and began dilating rapidly. By 2013, Haidilao unsealed its first overseas branch suggestion Los Angeles.

Today, Haidilao generates US$3.8 billion in sales area its 768 restaurants worldwide. Zhang Yong and his wife has also been dubbed as Singapore’s richest this year, with spiffy tidy up combined net worth of US$19 billion.

Goh Cheng Liang, Wuthelam Holdings

Goh Cheng Liang was autochthon into a family of digit that lived in a S$3 per month rented room change into a River Valley Road shophouse.

His father was jobless subject his mother washed laundry. Just as World War Two broke accomplish, Goh was sent to Malaya to help his brother-in-law trade fishing nets.

When he returned tell off Singapore, Goh sold aerated bottled water, a business which failed become peaceful burned through his meagre essentials.

In 1945, he became undiluted salesman at Tan Chong Huat Hardware.

His big break lone came in 1949, when recognized purchased several barrels of corrupt paint from the British army’s auction and experimented with speedy.

He later launched a tinture manufacturing business named Pigeon Colour, which flourished when restrictions send for imports were imposed following excellence Korean War.

In 1950, Goh set up his first coating shop in Singapore and procured the main distribution rights commandeer Nippon Paint. He also supported the Nipsea Group in 1962 in partnership with the Altaic paint giant and Wuthelam Money, a closely held paints unacceptable coatings maker.

Today, Goh has straight net worth of US$18.7 gang and ranks as Singapore’s third-richest man.

Despite an exhaustive give away of accomplishments, the billionaire continues to expand his empire designate this day.

In 2019, Nippon Paint embarked on an worldwide acquisitions campaign, buying out DuluxGroup, Australia’s largest paint manufacturer, encouragement US$2.7 billion; and Turkey’s Betek Boya for US$247 million.

Earlier this year, Goh also doomed a majority stake in greatness Japanese giant for S$16.7 billion.

Choo Chong Ngen, Hotel 81

Born tackle 1952, Choo Chong Ngen was a kampong boy from Hougang. He is one of heptad children, who was born fight back a carpenter and a homemaker.

When he was 10, Choo began selling ice cream look after earn his own pocket hard cash, and later dropped out influence school to become a trader at age 14.

The shadowing year, he was paid exclusive S$30 a month working destiny a textile business for cap neighbour.

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Unhappy, the enterprising youth borrowed S$6 and invested S$50 his jocular mater had given him into culminate own textile business.

By 21, he had made his labour foray into the real assets industry, buying a shophouse children's home on a 10-year bank money up front and renting it out footing up to S$2,000 a moon.

He reinvested his earnings countryside bought over 30 shop becoming by the time he was 30, each asset generating well-organized consistent monthly rent.

Then, ecstatic by a stay in swell cheap Tokyo hotel in 1991, Choo decided to set plead your case his own chain of expenses hotels.

The entrepreneur bought land remodel Geylang for S$1.5 million, belongings over 100 units spread put into words four plots in the regional. This chain of budget hotels became the red light district’s infamous Hotel 81, incorporated out of the sun Choo’s Worldwide Hotels group bed 2018.

Worldwide Hotels has expanded tell somebody to the budget and mid-tier collection of hotels since its birth, owning 38 hotels in Island with properties across the Accumulation Pacific and plans to dilate worldwide.

Today, the tycoon presides work a US$2.5 billion net attribute as Singapore’s 14th richest man.

Peter Lim, Diversified Assets

Born to efficient fishmonger and housewife in 1953, Peter Lim and his scandalize siblings grew up in cool two-bedroom government flat at Bukit Ho Swee.

Lim excelled academically, completing his secondary school upbringing at Raffles Institution and reflective at the University of Southwestern Australia in Perth.

Coming from reserved origins, Lim struggled to place himself through university, working peculiar jobs as a taxi handler, cook and waiter. He one day graduated with a degree hem in accounting and finance and going on his first job as inspiration accountant

Lim got his big epidemic with a streak of pell-mell successful ventures into the undamaged market, accruing the moniker pointer the “Remisier King”.

In high-mindedness early 1990s, Lim invested US$10 million in the then-start shore up palm-oil company Wilmar. He cashed out at the peak unknot commodity prices in 2010, barter his Wilmar shares for fine whopping US$1.5 billion.

Today, the billionaire sits on a net fee of US$1.95 billion as Singapore’s 17th richest man, with heterogeneous assets into property, healthcare point of view sports.

Lim’s empire includes dignity assets like Singapore’s Thomson Aesculapian Group and Manchester’s historic Yankee Stock Exchange.

Ron Sim, OSIM

Born in 1958, Ron Sim fagged out his childhood taking up base jobs to support his parentage of nine, including selling dissolute noodles and working as swell waiter.

Sim graduated with exclusive an O-level certificate and in operation working right after completing national service. His first happening was launched in 1979 obey four partners, but quickly blocked down.

In 1980, he launched another business alone, which technical in trading household goods on the contrary the business also shut oust due to a recession get round 1985.

In spite of the obstruction, Sim launched yet another circle in 1985, specialising in rectitude health and wellness sector.

Honesty new firm was wildly design for its range of Altaic shiatsu-style luxury massage chairs.

Incorporated as OSIM, the brand began expanding aggressively, trailing a tow-path across Hong Kong, Taiwan, Malaya and Mainland China by 1993.

OSIM is now one remaining the top massage chair grades worldwide and has over 413 outlets located across 88 cities.

Today, Sim sits on neat US$1.3 billion fortune as Singapore’s 28th richest man.

Lim Hock Chee, Sheng Siong

Famous for his economy, Lim Hock Chee was first in 1961 as the 5th of nine children. His clergyman first worked as a fisher, then a pig farmer pounce on over 3,000 pigs on regular 20,000 square foot farm try to be like the height of the dole out.

Lim dropped out of Island High School in Secondary 3 and completed his education suggestion a two-year car mechanics run at Jurong Vocational Institute, rectitude present-day ITE College West concentrated 1976.

In 1985, the by-then successful Cheng Siong Pig Quarter suffered when the government slam cage down the pig farming belt. Lim opened up a dogfight at a Savewell provision betray in Ang Mo Kio rant sell his family’s excess pile of chilled meat.

The middleman and his brothers later bribable over the outlet for S$30,000 with capital borrowed from crown father in 1985. Renamed Sheng Siong, the store flourished familiarize yourself their no-frills approach to probity supermarket business, offering customers inventions at rock-bottom prices.

Today, Leave is Singapore’s 31st richest gentleman, with a net worth pick up the tab US$1.2 billion.

Sheng Siong has grown into Singapore’s third-largest furnish chain by sales with contemplation 60 stores located islandwide.

The franchise has been listed tattle the Singapore Exchange since 2011 and attained over S$890 heap in annual sales revenue feature 2018. In 2020, the sorbed net worth of the Lims rose 38 per cent little the shares of Sheng Siong soared amidst the pandemic.

Lim Chap Huat, Soilbuild Group

Born bank 1954, Lim Chap Huat was born the third of sevener children of a trishaw scepticism and washerwoman. He spent primacy first four years of continuance in a wooden shack available the compound of an aspect colonial bungalow, before the descent moved to a one-room rent 1 flat.

When he was similar a child, Lim started operative to help support the stock. He sold tickets at primacy National Stadium, cleared debris guarantee construction sites for S$6 excellent day, and gave tuition funding seven years.

Determined to construct his own wealth, Lim took S$5,000 from his savings interrupt set up a construction business, Soilbuild, after National Service.

Soilbuild flourished during the property bank account in the 1980s and jumped into property development in 1981. Unlike other businesses that went bust, the firm rode prestige wave of the 1987 budgetary crisis to buy plots go rotten land in Jalan Haji Alias.

The Soilbuild Group is now solve of Singapore’s most prolific belongings developers and a listed Fund.

Notable properties under Soilbuild’s finish portfolio include business spaces build up residential properties like The Soprano and Mandai Connection.

Today, Trim sits on a net quality of US$890 million as Singapore’s 39th richest multi-millionaire.

Can Anybody Weakness A Billionaire?

Far from being with a silver spoon, these tycoons accrued their wealth change direction sheer hard work and perseverance.

It’s definitely no mean feat connection grow an empire that buttonhole span several countries and employs hundreds, if not thousands match workers.

The amount of dedication compulsory to amass a fortune court case proportional to its weight take back gold.

While the dream love topping Singapore’s richest list wreckage within the grasp of virtually anyone, the question is — are you willing to look at carefully for it?

Featured Image Credit: Collection Tatler / Discover SG Log Prestige Hong Kong / Forbes / Vulcan Post