Richest Singaporean and Paint Tycoon Passes Away
Singaporean billionaire and majority shareholder in one of the world’s top paint manufacturers has passed away.
Goh Cheng Liang passed away on August 12 at the age of 98 with his family members by his side, according to a media release. He is survived by three children, eight grandchildren and one great-grandchild.
According to Forbes' annual list of billionaires in 2025, he is the richest Singaporean with an estimated net worth of $13 billion.
Business Origin Story
Born in Singapore in 1927, Goh grew up in poverty and moved to Muar, Johor when World War II broke out to help his brother-in-law sell fishing nets. Upon returning to Singapore in 1943, he made a failed business attempt in aerated water and worked in a hardware store before kicking off his pursuit in paint. In 1949, he bought supplies auctioned by the British army at low prices, mixing colors and adding solvents to create his own company called Pigeon Brand.
After the Korean War started in 1950, imports were severely restricted and his paint business boomed, later growing into a partnership with Japanese paint manufacturer Nippon Paint. He founded Wuthelam Holdings in 1974 and built it into a global conglomerate that now owns nearly 60 percent of Tokyo-listed Nippon Paint. Outside of paint, Wuthelam also has interests in real estate.
Aside from business, Goh was also a philanthropist who funded medical research, especially in cancer treatment. He also provided scholarships for underprivileged students and donations to various welfare agencies.
