The Richest Women in Singapore (And how they did it)
The ability to create wealth knows no boundary, as it cuts through race, age and more so gender. While males dominate the billionaires club in Singapore, just like in other parts of the world, so are women climbing their way up, thanks to investments in brilliant ideas and investment in diverse fields.
The landscape is changing, and unlike in the past where women wealth was either acquired through inheritance or upon the death of their husbands, women appear to be working as hard as their counterparts. In Singapore for instance, the richest women are self-made millionaires and billionaires having worked their way up the investment world on starting companies that have become multi-billion entities.
Below are the top 4 Richest Women In Singapore.
#4 Chong Phit Lian Net Worth $650 Million
Chong Phit Lian is the fourth richest woman in Singapore with an estimated net worth of $$650 Million. She is a self-made millionaire from a humble beginning. She was born and raised in a small city called Kulai in Malaysia. During her early years, she worked at her Father’s rubber plantation from where she appears to have mastered the art of business.
However, it is only when she moved to Singapore, to study at the Polytechnic Institute in Singapore that her star started to shine. Following the death of her father, Lian began working in part-time jobs and borrowed money from relatives to finish studies.
After completing studies, she began working in the industries of constructions and engineering from where hard work paid, as she rose through managerial ranks. In 2006, she was named the CEO of Jetstar Airways one of the biggest airlines in the region.
Being appointed as the CEO OF Singbridge Company has to be one of Lian’s biggest achievements as it is this appointment, which opened the door for her to accrue the wealth she currently controls.
#3 Olivia Lum Net Worth $900 Million
Olivia Lum is another self-made Singaporean Business magnate, best known for being the founder, Chief Executive Officer and president of the Singapore- based Hyflux’s Group. However, she started her corporate life as a chemist with Glaxo Pharmaceuticals.
It is at the first job that Lum started working on ideas as she sought to be independent. After taking note of the fact that there were no sources of clean water in the country, Lum quit her Job In 1989 at Glaxo. At the age of 20, she sold her car and apartment and embarked on an ambitious journey that even in her wildest dreams could not have imagined how successful it would become. She went on to found Hyflux, a company that would go on to become one of the biggest if not the biggest in Singapore when it comes to water filters and chemicals.
Lum worked herself out during the initial years of the company riding a bicycle to sell some of the company’s water filters and treatment chemicals. Her efforts were rewarded in the early 2000s, as Hyflux ’s became a mainstream company after becoming the first water filters and treatment company to be listed on the SESDAQ after which it was upgraded to the Singapore Exchange mains Board.
The listing of Hyflux’s in Singapore’s main exchange with it brought a lot of wealth as Olivia Lum saw here net worth climb to more than $240 million in 2005. As of 2007, Hyflux’s was a multi-billion company with over 800 employees.
While most Lum wealth is tied to her stake in Hyflux’s, she has also held a number of high profile positions both in politics and in the private sector. However, in 2008 she relinquished a good chunk of the posts as she sought to focus most of her time and energy on the Hyflux’s rapid expansion.
#2 Sabrina Tan Net Worth $1.2 Billion
Dubbed as the queen of beauty, Sabrina Tan has built a massive empire in the cosmetic industry and in the process generated a significant amount of wealth. With a net worth of $1.2 billion, she is the youngest woman billionaire in Singapore.
The beauty business has always been in the blood of Sabrina Tan as her mother Madam Ivy Eu owned a chain of three salons called Sabrina Beauty Center.
Tan founded Multibillion Skin Inc., in 2007 after saying goodbye to the IT industry and a six-figure annual salary. The company started with 200 sq. ft. Store In The Central at Eu Tong Sen Street and has since expanded to 11 concept stores in Brunei, Vietnam, Lithuania, and Spain.
Tan success in the cosmetic industry is attributed to the unique combination of serums and hyaluronic acid that effectively hydrate eczema skin and other affected types of skin and tissue. The products boast of the advantage of the healing and regenerating the worst skin conditions a position that has seen them amass a good chunk of sales on strong demand.
#1 Christina Ong Net Worth $1.8 Billion
Christina Ong is one of the wealthiest women in the world, backed by a massive business empire. Born in 1947, Ong is a Singaporean businesswoman with ties to a number of top and big companies in Singapore. Ong is married to Business magnate and investor Ong Beng Seng with whom they are blessed with two Kids.
Madam Ong accrues most of her wealth from his investment in Mulberry, which is one of the biggest and well known, British handbag producer. Other assets that sum up the multi-billion empire include investments in Hotel Properties Limited, fashion retailer Club 21 and NSL, an industrial company that runs OBS.
Ong also founded COMO Group a holdings company made up of COMO Hotels and resorts. The couple has also invested in Singapore Grand Prix and has stakes in Kuo International; an oil trading company ran by Christina’s brother Peter Fu Chong.
The lady billionaire is a holder of Italian Fashion Hall of Fame Award for her service to the Italian fashion industry. In 2014, she was included in the list of Singapore’s Women’s Hall of Fame as a global fashion entrepreneur and luxury hotelier.