Kuok Khoon Hong Net Worth : $2.3 Billion
Kuok Khoon Hong is the nephew of Malaysian business tycoon Robert Kuok. Kuok Khoon Hong is the co-founder of the world’s largest Palm oil company, Wilmar International. With a net worth of $2.3 Billion, Hong has made it on to the Forbes list of world’s richest billionaires. He is the 8th richest person in Singapore and ranks at #764 in the Forbes list of world’s richest people as of March 2014.
In April 2013, Kuok Khoon Hong purchased 27% stake in Consumar for $263 million. Consumar is a Morocco-based company and is the third largest sugar producer in Africa. Moreover, he bought Sifca Group, the largest palm-oil refinery located in Ivory Coast. In order to strengthen the position of Wilmar international in South Africa, Kuok Khoon Hong plans to further invest in several countries across Africa, including Nigeria, Liberia and Ghana. The majority of his investments are in the sectors of grain, oilseed and edible oils.
He holds a degree in Bachelor of Business Administration and has worked at several key executive positions in various companies. He is the Director of Adani Wilmar Limited, Kenspot International Pte Limited and Yihai Kerry Oils and Grains Industries. Despite slowdown in palm oil demand and slump in prices in China, he did not give up and expanded his business into Africa to beat competition and maintain a competitive edge in the market.