Peter Lim, a Singaporean business magnate, is renowned for his remarkable journey from humble beginnings to becoming one of the wealthiest individuals in Singapore. His story is a testament to the power of perseverance, strategic investments, and an unwavering belief in oneself.
In this blog, Covemarkets will discuss Peter Lim net worth, early life, career highlights and much more.
|May 21, 1953
|70 (as of 2023)
|Seven siblings (exact names not specified in the context)
|University of Western Australia
|Teo Geok Fong (1990- 2002)
Cherie Lim ( 2003- present)
|$2.1 billion (as of 2023)
|Source of Wealth
|Investments in palm oil, property, healthcare, and sports
What is Peter Lim Net Worth and Salary in 2023?
As of 2023, Peter Lim’s net worth is estimated at $2.1 billion. This impressive wealth has been amassed through a series of successful investments in various sectors, including palm oil, property, healthcare, and sports.
Why is Peter Lim Famous?
Peter Lim gained fame for his extraordinary success in the world of business. He made a fortune by investing in palm oil and later diversified his portfolio to include property, healthcare, and sports. His ownership of one of Europe’s most important Spanish football clubs further elevated his status in the public eye.
Peter Lim Overview
Born on May 21, 1953, Peter Lim grew up in a modest two-bedroom government flat in Singapore. The son of a fishmonger, he was one of eight children.
To fund his university education at the University of Western Australia, Lim worked part-time doing odd jobs as a taxi driver, cook, and waiter. It was during this time that he learned the ropes of business while working at the Australian fast-food chain Red Rooster.
Career and Awards
Peter Lim is a renowned Singaporean business magnate. He started his career as a stockbroker and later transitioned into a private investor. His investments span across various sectors, including palm oil and medicine.
In 2019, Forbes ranked him as the tenth richest person in Singapore with a net worth of US$2.5 billion.
He is also known for his significant involvement in sports, owning shares in English club Salford City and being the owner of Spanish La Liga club Valencia CF since 2014.
After graduating with a degree in accounting and finance, he initially worked as an accountant and did some tax consultancy before venturing into stocks. His investment of about US$10 million in a start-up palm-oil company, Wilmar, in the early 1990s proved to be a game-changer when he sold his shares for US$1.5 billion in 2010.
His philanthropic efforts are also noteworthy. In 2010, the Singapore Olympic Foundation (SOF) set up the SOF-Peter Lim Scholarship with a S$10 million donation from Lim. This scholarship supports students from financially challenged backgrounds who have demonstrated potential in their respective sports.
In 2019, Lim pledged another S$10 million to continue supporting young local athletes for another decade. He also committed a separate $20 million to start a new community project focused on helping children from less privileged backgrounds.
In recent news, Peter Lim co-founded ZujuGP with his son in October 2021. This digital platform aims to digitize the live game experience for fans by providing entertainment, networking, and e-commerce options.
It also plans to build an ecosystem of services for teams to recruit players, club personnel, train, and mentor aspiring players. The platform has been endorsed by Al Nassr star Cristiano Ronaldo, who is a long-time friend and partner of Peter Lim.
However, Lim’s management of Valencia CF has faced criticism due to the team’s underperformance and player sell-offs. Despite this, he remains a significant figure in the world of business and sports, continuing to make headlines with his ventures and contributions.
Peter Lim was married to Teo Geok Fong for 12 years ( 1990- 2002), and then in 2003, he married Cherie Lim.
As of now, there is no information available about Peter Lim’s social media accounts.
FAQs about Peter Lim
How did Peter Lim make his money?
Peter Lim made his money through strategic investments in various sectors, including palm oil, property, healthcare, and sports.
What football clubs does Peter Lim own?
Peter Lim owns a controlling stake in Spanish La Liga club Valencia CF and a 40% stake in Salford City F.C.
What are some of Peter Lim’s notable business ventures?
Peter Lim has been involved in various industries, including real estate, healthcare, and sports. He has made investments in properties, healthcare-related businesses, and technology companies.
What is Peter Lim’s connection to Valencia CF?
Peter Lim is the owner of Valencia Club de Fútbol (Valencia CF), a professional football club based in Valencia, Spain. He acquired the club in 2014.
Is Peter Lim involved in philanthropy?
Yes, Peter Lim is involved in philanthropy. He has made charitable donations to various causes, including healthcare, education, and social welfare initiatives.
Is Peter Lim associated with Thomson Medical?
Peter Lim has an association with Thomson Medical. He acquired a significant stake in Thomson Medical Centre in Singapore, which is known for its healthcare services and facilities.
Peter Lim’s journey from humble beginnings to becoming a billionaire is truly inspiring. His success serves as a reminder that with hard work, determination, and strategic thinking, one can achieve great heights. Despite his wealth, Lim remains grounded and committed to giving back to society, making him a respected figure both in the business world and beyond. Thank you for reading.
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