Forbes ranked Peter Lim as the 14th richest person in Singapore in 2019. His net worth currently stands at US$2 billion and he is known for doing charity works. However, many of us don’t really know much about what he does and the self-made billionaire is keeping his private life low and away from the media limelight.
Peter Lim grew up in a small government flat
He was born in 1953 to a fishmonger father and a housewife mother. Peter together with his six siblings lived in a two-bedroom government flat in a Bukit Ho Swee public housing estate.
Growing up in a poor family background, he didn’t make it as an excuse not to ace in education. He managed to become a student at the Raffles Institution and further his education at a well-known university – University of Western Australia.
He did odd jobs as a taxi driver, cook and waiter to fund his university education
It was not easy for him and he had to do odd jobs as a taxi driver, cook and waiter alongside studying to fund his university education.
He then graduated university with a degree in accounting and finance and secured his first job as an accountant. But, it only lasted for 3 months and he then moved into tax consultancy. It was something that he always wanted to do since he was 18.
Peter Lim was called as “Remisier King” – Singaporean term for stockbroker
Not long after that, he pursed his dream to become a stockbroker. Lim was good at in and he earned the nickname “Remisier King” which is Singaporean term for stockbroker. A remiser is a stockbroker who only gets paid in commissions. Lim being a Remisier King, he made millions.
He enjoyed doing it and later became a private investor. He invested $10 million in a start-up Indonesian palm oil company and fast forward 10 years later, Malaysian busienssman Robert Kuok decided to inject his Malaysian palm oil operations into the Indonesian palm oil company, Wilmar after the demand for palm oil increased rapidly.
One of his notable investment is in Thomson Medical
Lim’s wealth grew exponentially and the value of his investment in palm oil increased. He then decided to put money in a range of sectors from medical to real estate – one of his notable investment is in Thomson Medical.
He made a real estate venture in Malaysia’s Iskandar project in 2015, to convert part of the land into a medical hub, Thomson Iskandar. It was estimated to worth S$4 billion.
Besides Thomson Iskandar project, he also has other projects with the Johor royal family focused in the Iskandar area – integrated sports hub Motorsports City as well a security business to name a few.
Recently, he donates S$1 million worth of meal donation to frontliner medical workers who are helping in the fight against Covid-19
Peter Lim donates S$1 million worth of meals to medical workers and hospital staff to show appreciation and support for their work in the fight against Covid-19.
Approximately, 20,000 workers will receive food vouchers which can be used at more than 160 participating food outlets. Priority will be given to unsung heroes such as housekeeping staff, patient care assistants and ambulance drivers.
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