Khoo Family
3rd Richest Family In Singapore

There was a time when the Khoo family was the wealthiest family in Singapore. Today Forbes has ranked Khoo family at #3 in the list of the Singapore’s 50 richest people with a net worth of $6.7 Billion as of August 2013. 

Khoo Teck Puat was the man who laid the foundation of Singapore’s third richest family. He studied up to eighth standard and married at an early age of 17. In 1933, he joined Oversea-Chinese Banking Corporation as an apprentice bank clerk.

In 1959, he left the bank and founded Maybank in 1960. The bank grew by leaps and bounds and within three years he managed to open more than 150 branches. It was during this time that Khoo purchased Goodwood Park Hotel – the most precious possession of the Khoo family. 

However, in 1965 the government of Malaysia ousted Khoo from Maybank due to some ulterior motives of then Prime Minister Tun Abdul Razak. Though distorted with what the Malaysian government did to him, he didn’t give up his Malaysian citizenship and bought Maybank’s Singapore properties. 

In 1986, he acquired a 5% stake in the Standard Chartered bank and gradually increased his stake to 15% and became the single largest shareholder of the bank. In 2003, Forbes ranked him the richest businessman in Singapore.

The Khoo family has donated the bulk of their wealth to Duke University. Goodwood Group of Hotels is the most valuable possession of the family, which is chaired by Khoo Tech Puat’s daughter Mavis Oei. 

Press Like If You Learnt Something New : )

New! Comments

Have your say about what you just read! Leave me a comment in the box below.

"If I have seen further than others, it is by standing upon the shoulders of giants." Isaac Newton

The material in this site is purely for educational purposes only. In creating this side we have sourced info from many sites and would like to give credit to where it is due.We do not intend to infringe any website's copyrighted material and we use the information for educational purposes and use information that are public in nature and hopefully protected by freedom of information laws. Also, when I created this website years ago, I took many pictures from the internet that may infringe your copyright. I will be slowly taking all these down and if the picture that belongs to you or your company is still there, please drop me an email and I will remove the pictures. If you found that any article in this website infringe your rights please let us know and we will take it down. Thanks.


Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

TheRichest (Great site for things about money and rich people)

Wikipedia (Greatest site on earth for lots of information)