Who is Peter Lim?
Peter Lim is successful multi-billionaire from Singapore. According to Forbes 2014 , he is worth USD 2.35 Billion. He owns many investments including substantial stake in Wilmar, Rowsley, FJ Benjamin, Thomson Medical Center, McLaren Automotive and Manchester United Football Club themed bars and clubs, Valencia Football Club. He is also the most prominent client advisor Singapore has ever have, affectionately known as “Remisier King”
What is famous about him?
He buys businesses like buying toys. In partnership with royal family in Malaysia, he acquired 22 acres of land to start his venture into Real Estate. Along the way, he bought a top architect firm in Singapore, RSP Architects. About the same time, he invested into a S$1 Billion motorsports project named FASTrack Iskander and bought a significant stake in McLaren Automotive. He still found time to bid for Liverpool F.C. and later on Rangers F.C., Middlesbrough F.C. and a successful bid for Valencia C.F in 2014. It is a well-known fact he is a passionate football and Manchester United Fan, owning a series of Manchester United F.C. themed bars and clubs in Asia. His wife is ex-actress Cherie Lim.
How did he start out?
Often quoted to be a son of a fishmonger, he had toiled his younger days as not only a cab driver, but also as a cook and waiter.
He was educated in Raffles Institution in Singapore and has a degree in accountancy from University of Western Australia. After he graduated, he became a stockbroker and advises his clients on stock trades.
How did he become successful?
He was the early pioneers in the stock brokering industry in the 1980s where South East Asia was growing at a tremendous pace.
Having studied in Raffles Institution, he had become closely associated with numerous prominent families in Malaysia and Indonesia. As a stockbroker, his finance & business acumen, unrivalled connections made him an early titan in the industry.
As South East Asia grew, his clients and his wealth grew tremendously. His big investments in Wilmar with his friend Kuok Khoon Hong in the late 1990s propelled him to stardom today, earning him early pioneer of billionaire status in Singapore, and the title “Remisier King“. But without Wilmar, he was already an elite among his stock brokering peers.
Many of the great stockbrokers left the stockbroking industry in the early 1990s and became deal makers or business investors (engaging in various corporate deals including capital market activities) in Asia. Prior to 2000, Asia had almost no investment banking activities.
Can we be like him?
Very unlikely. His hard work (driving taxis, waitering, cooking) in his early days are a rarity today. Add to his network built in the early and slower days (1970s + elite school) means very few client advisors today can inherit such a strong foundation within a short period of time. The additional challenge is the abundance of information and analysis available today everywhere, such that we probably have better chances of bumping into Peter Lim while driving a taxi full-time than be anywhere near what he has achieved.
Things You Should Know
~ In 2010, S$10 Million Peter Lim Scholarship for Singapore Olympic Foundation
~ In 2011, S$2 Million scholarship at Hwa Chong International School (daughter attending the school)
~ In 2012, World’s Top 10 Philanthropic Billionaires – giving 13.23% of his annual income to charity
Peter Lim in the News
Peter Lim bought Valencia Football Club (Youtube)
Peter Lim bought Valencia Football Club (Straits Times 18th May 2014)