These 4 S’pore Kids Are Born With Fortunes, But Built Their Own Bizs
Singapore is considered the fourth richest country in the world.
As of today, Singapore has 226,000 people who rank in the top 1 percent of the world’s mega-rich, according to Credit Suisse’s Global Wealth Report for 2019.
Although they were born with a silver spoon in their mouths, some of these wealthy and crazy children chose to build their own business empire to amass their own fortunes.
Regardless of whether they used their parents’ wealth to get started, here are four heiresses who chose to be entrepreneurs instead of resting on their laurels.
Kim Lim is a Singaporean socialite famous for her career as an Instagram influencer, model and actress.
His father, former broker and self-taught business mogul Peter Lim, ranked 17th on the Forbes 2020 list of Singapore’s 50 richest people with a net worth of around US $ 1.9 billion.
She is a single mother to her three-year-old son and is also the founder and face of not one, but three beauty and lifestyle companies.
This includes Papilla Hair Care, a specialist hair and scalp loss treatment center, Illumia Therapeutics, a full-service medical esthetics spa, and Illumia Medical, a cosmetic and plastic surgery clinic in Singapore.
Singapore’s youngest billionaire RK Kishin is famous not only for his striking good looks, but also for his real estate adventures with his father Raj Kumar.
The father-son duo have a combined net worth of US $ 2.6 billion and are a major landlord in Singapore.
RK Kishin sold an apartment that had been given to him as a birthday present by his parents and used the proceeds as seed capital to start his own real estate company, RB Capital.
The company owns property in the heart of downtown Singapore, including the Intercontinental at Robertson Quay and Far East Plaza.
The billionaire also announced that his first F&B business, the virtual brand Tiffinlabs, will expand to 1,000 cloud kitchens around the world earlier this year.
Wee Teng Wen
The fourth generation son of the Wee family, Teng Wen comes from an impressive lineage.
Teng Wen’s great-grandfather founded United Overseas Bank (UOB), his grandfather Wee Cho Yaw has a net worth of US $ 5.4 billion and his father, Wee Ee Cheong, is the current Director General of UOB.
Despite a background in banking and finance, Wee Teng Wen broke the mold by forcing his way into the F&B industry to found the hugely successful Lo & Behold group.
The Lo & Behold Group is behind some of Singapore’s best restaurants, including Odette, The Black Swan, Tanjong Beach Club, and The White Rabbit.
Singaporean heiress Arissa Cheo is not just the ex-wife of Taiwanese actor-singer Vanness Wu; she is also the daughter of Cheo Tong Choon.
The Canadian-trained physician inherited edible oil refiner Mewah International, setting the Cheo family’s net worth at a staggering US $ 455 million on Forbes.
Arissa, a socialite and influencer known as “the prettiest face in Singapore”, has also started her own business.
In 2009, Arissa co-founded Carte Blanche X, a now defunct e-commerce store that sells independent and house brands.
In 2016, she launched her own fashion brand, Arissa X at Singapore Fashion Week. The label has collaborated with brands like Tocco, Todcano, Momo’s March and Reve by Rene.
Rich is not spoiled
Despite being born with a silver spoon, these four Singaporeans have shown they have the courage to do it on their own.
While some have expressed concern that the talent for making money could skip generations, it is clear that entrepreneurship is alive and well in all four areas.
Their achievements do not preclude the efforts of the “Rich Kids” who naturally take over the reins of their family business.
Did we miss someone? Let us know in the comments below!
Featured Image Credit: Arissa Cheo Facebook / Indonesia Tatler / Kim lim Wiki / buro 24/7
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