Singaporean

These 4 Rich S’pore Kids Are Born With Family Fortunes, But Chose To Build Their Own Bizs

Singapore is touted to be the fourth-wealthiest country in the world.

To date, Singapore has 226,000 individuals who rank in the top 1 per cent of the mega-rich globally, according to Credit Suisse’s Global Wealth Report for 2019.

Despite being born with a silver spoon in the mouth, some of these crazy rich kids have chosen to build business empires of their own to amass their own fortunes.

Regardless if they used their parents’ riches to start up, here are four heirs and heiresses who have chosen to be entrepreneurs instead of resting on their laurels.

Kim Lim

Kim Lim is a Singaporean socialite famous for her career as an Instagram influencer, model and actress.

Her father, the self-made former stockbroker and business magnate Peter Lim, ranked 17th on Forbes’ 2020 List of Singapore’s 50 Richest with a net worth of approximately US$1.9 billion.

kim lim
Image Credit: Illumia Medical

She is a single mother to her three-year-old son and is also the the founder and face of not one, but three beauty and lifestyle businesses.

That includes Papilla Hair Care, a specialised hair loss and scalp treatment centre, Illumia Therapeutics, a full-service medical aesthetics spa, and Illumia Medical, an aesthetic and plastic surgery clinic in Singapore.

RK Kishin

Singapore’s youngest billionaire, RK Kishin, is famous not only for his striking good looks but also his ventures into real estate with his father Raj Kumar.

The father-son duo has a combined net worth of US$2.6 billion and is one of Singapore’s leading landlords.

rk kishin
Image Credit: SCMP

RK Kishin sold off an apartment gifted 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 firm 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 venture, virtual brand Tiffinlabs, will be expanding to 1,000 cloud kitchens worldwide earlier this year.

Wee Teng Wen

The fourth-generation son of the Wee family, Teng Wen hails from an impressive bloodline.

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 serves as UOB’s present-day Chief Executive.

Despite a lineage in banking and finance, Wee Teng Wen broke the mould when he forged a path into the F&B industry to establish the immensely successful Lo & Behold Group.

The Lo & Behold Group is behind some of Singapore’s premier restaurants, including Odette, The Black Swan, Tanjong Beach Club and The White Rabbit.

Arissa Cheo

Singaporean heiress Arissa Cheo is not only the ex-wife of Taiwanese actor-singer Vanness Wu; she’s also the daughter of Cheo Tong Choon.

The Canada-trained medical doctor inherited edible oils refiner Mewah International, pegging the Cheo family’s net worth to a formidable US$455 million on Forbes.

Image Credit: FirstClasse

Arissa, a socialite and influencer dubbed “Singapore’s prettiest face” has also launched businesses of her own.

In 2009, Arissa co-founded Carte Blanche X, a now-defunct e-commerce store retailing indie and in-house labels.

In 2016, she launched her own fashion label, Arissa X at Singapore Fashion Week. The label has collaborated with brands like Tocco, Todcano, Momo’s March and Reve by Rene.

Rich Isn’t Spoilt

While they may be born with a silver spoon, these four Singaporeans have shown that they have the grit to make it on their own.

While some have expressed concern that the talent for money-making may skip generations, it’s clear that the entrepreneurial spirit is alive and well in these four.

Their achievements does not discount the efforts of “Rich Kids” who take up the reins of their family business, of course.

Did we miss anyone out? 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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