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What is Goh Cheng Liang’s Net Worth?
Goh Cheng Liang, the Singaporean paint tycoon, has an estimated net worth of $12.7 billion. Goh’s wealth primarily stems from his majority stake in Japan’s Nippon Paint Holdings, the world’s fourth-largest paint manufacturer by revenue. His fortune saw a significant boost in 2020 when his son, Goh Hup Jin, orchestrated a deal that allowed Wuthelam Holdings to take formal control of Nippon Paint. This transaction added approximately $3.8 billion to Goh’s overall net worth.
In 2021, Goh’s wealth peaked at an estimated $22.7 billion, largely due to the increased demand for paints and coatings during the COVID-19 pandemic. However, as markets stabilized, his net worth adjusted accordingly.
Here’s the breakdown of Goh Cheng Liang’s net worth:
Name: | Goh Cheng Liang |
Net Worth: | $12.7 Billion |
Date of Birth: | 1927 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Born in 1927 to impoverished parents, Goh Cheng Liang grew up in challenging circumstances. His father was unemployed, and his mother worked as a laundrywoman to support the family.
During his early years, Goh and his family lived in a cramped $3-per-month rented room in a shophouse on River Valley Road, sharing the space with six others.
The hardships of his youth instilled in Goh a strong work ethic and entrepreneurial spirit. During World War II, he was sent to Muar in Malaya (now Malaysia) for safety, where he gained his first business experience selling fishing nets with his brother-in-law.
Career
After returning to Singapore in 1943, Goh Cheng Liang initially ventured into selling aerated water, but this business failed. Undeterred, Goh worked at a hardware store for four and a half years, acquiring valuable knowledge about chemicals and materials.
His breakthrough came in 1949 when he purchased barrels of cheap, leftover paint from the British army. Using his acquired knowledge and a Chinese dictionary on chemicals, Goh experimented with mixing colors and adding solvents, eventually creating his own “Pigeon Brand” paints. This venture proved timely, as the outbreak of the Korean War in 1950 restricted imports, causing Goh’s paint business to flourish.
The pivotal moment in Goh’s career came in 1962 when he became the main distributor for Nippon Paint in Singapore. This partnership laid the foundation for his future wealth. Over the decades, Goh expanded his business interests through Wuthelam Holdings, diversifying into property development, electronics, and trading.
In 2020, a significant deal allowed Wuthelam Holdings to take formal control of Nippon Paint, substantially increasing Goh’s net worth.
Personal Life
Goh Cheng Liang is widowed and has three children, including his son Goh Hup Jin, who plays a significant role in the family business.
Goh’s personal indulgences are few, with his primary passion being luxury yachts. He owns several vessels, including the White Rabbit, which is notable for being the world’s largest tri-hulled superyacht.
Goh is also known for his philanthropic efforts. He established the Goh Foundation, which has made substantial donations to various charitable causes, with a particular focus on medical research. In 2014, the foundation donated $50 million to the National Cancer Centre Singapore.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
