Meet Singapore’s power siblings Robert and Philip Ng. According to Bloomberg, the duo has an estimated net worth of $9.8 billion. They ranked No. 131 in the Forbes list of richest on a worldwide scale.
Their combined net worth used to be $12.8 billion, but due to the sluggish real estate industry in Hong Kong and Singapore, the siblings’ fortune significantly dropped. They countered property downturn then by investing $1.4 billion in several Australian ventures.
The siblings control Singapore’s Far East Organisation and Hong Kong’s Sino Group and have amassed a portfolio of 750 properties across different asset classes covering residential, hospitality, retail, commercial and industrial sectors.
The Far East group is Singapore’s largest private property developer and produces one in every six houses sold to the public. For Filipinos who frequent Singapore, it is worth mentioning that the group owns The Fullerton Hotel and other landmark properties.
BUSINESS
BUSINESS
BUSINESS
As part of my advocacy, I have started documenting inspiring family business success stories in Asia hoping it would spur readers to chase their dreams and eventually become one of them. Nothing is impossible to attain in this world if one puts all of one’s passion, determination, and hard work in his or her chosen business.
So how did the family business started? Robert and Philip are sons of real estate tycoon Ng Teng Fong, a migrant from Putian, Fujian province, China who came to Singapore in 1934 with his family when he was six.
