British Billionaire James Dyson with $16 Billion Fortune Appoints Singapore DBS Group Head of Institutional Banking & President Commissioner for DBS Indonesia Tan Su Shan as Director to Family Office Weybourne Holdings, One of Singapore’s Top Banker & Former Morgan Stanley Head of Private Wealth Management Southeast Asia & Nominated Member of Parliament in Singapore
25th February 2023 | Hong Kong
British billionaire James Dyson with around $16 billion fortune has appointed Tan Su Shan (DBS Group Head of Institutional Banking & President Commissioner for DBS Indonesia) as a Director to his family office Weybourne Holdings in late 2022. DBS is one of Singapore’s 3 largest bank and leading financial services group in Asia across 19 markets, with a market capitalization of around $65 billion (24/2/23). Tan Su Shan is one of Singapore’s top banker, was the former Morgan Stanley Head of Private Wealth Management Southeast Asia & Nominated Member of Parliament in Singapore (2012 to 2014), and graduated from UK Oxford University (Master of Arts in Politics, Philosophy & Economics). The head of James Dyson family office (Weybourne Holdings) is former British army officer James Bucknall, and other directors from Singapore includes prominent Singapore business leader Koh Boon Hwee (Chairman SGX), Kishin RK (RB Capital), and Andrew Lim (Allen & Gledhill). In 2021, James Dyson’s company Dyson Holdings paid $1.1 billion dividend to his family office Weybourne Holdings, and $560 million dividend in 2022. James Dyson is the founder of Dyson and inventor of Dyson vacuum cleaner, and is estimated to have a personal fortune of around $16 billion (2023). In 2019, James Dyson had relocated to Singapore, switched Dyson Headquarters to Singapore and setup a family office thereafter in Singapore. He is also involved in 2 of the highest profile property transactions in Singapore by buying a 3-storey Penthouse for $54 million in 2019 and selling for $47 million in 2020, and buying a $37 million 15,000 square feet bungalow that overlooks UNESCO World Heritage site Singapore’s Botanic Garden. In 2021 April, James Dyson switched his residency back to UK from Singapore. UK income tax rate is at 45% for above £150,000 while Singapore income tax rate is at 24% for above $1 million. In 2022, the Monetary Authority of Singapore (MAS) introduced new family office tax exemption criteria for new applications from 18th April 2022. For 13U, the minimum fund size of S$50 million remains, with new criteria including hiring a minimum of 3 investment professionals with at least 1 non-family member, minimum annual business expenditure of S$500,000 and minimum of 10% of AUM or S$10 million to be invested in local investments (listed debts / securities, Singapore registered funds, private investments into Singapore companies). For 13O, a S$10 million minimum fund size (rising to S$20 million in 2 years), hiring 2 investment professionals, minimum of 10% of AUM or S$10 million to be invested in local investments (listed debts / securities, Singapore registered funds, private investments into Singapore companies), and minimum of S$200,000 annual business expenditure.
“ British Billionaire James Dyson with $16 Billion Fortune Appoints Singapore DBS Group Head of Institutional Banking & President Commissioner for DBS Indonesia Tan Su Shan as Director to Family Office Weybourne Holdings, One of Singapore’s Top Banker & Former Morgan Stanley Head of Private Wealth Management Southeast Asia & Nominated Member of Parliament in Singapore “
DBS is one of Singapore’s 3 largest bank and leading financial services group in Asia across 19 markets, with a market capitalization of around $65 billion (24/2/23).
British Billionaire James Dyson with $16 Billion Fortune Appoints Singapore DBS Group Head of Institutional Banking & President Commissioner for DBS Indonesia Tan Su Shan as Director to Family Office Weybourne Holdings, One of Singapore’s Top Banker & Former Morgan Stanley Head of Private Wealth Management Southeast Asia & Nominated Member of Parliament in Singapore
DBS Group Head of Institutional Banking & President Commissioner for DBS Indonesia Tan Su Shan
Su Shan is Group Head of Institutional Banking at DBS and she also serves as the President Commissioner for PT Bank DBS Indonesia. Prior to leading the DBS Institutional Banking Group business, she was responsible for leading the group’s Consumer Banking and Wealth Management business for close to a decade. Su Shan is also an independent board director of Mapletree North Asia Commercial Trust and Aetos Holdings, both Temasek-linked entities. Prior to joining DBS, Su Shan was Morgan Stanley’s Head of Private Wealth Management for Southeast Asia. She has also worked at Citibank and prior to that at ING Barings in London, Tokyo and Hong Kong. Married with two children, Su Shan is actively involved in fund-raising efforts for various Singaporean charities and sits on the board of Singapore’s KK Hospital Health Endowment Fund, which provides financial support to needy patients. She was also a past board member of the National Museum and a member of the International Women’s Foundation and the Young Presidents Organisation. On the education front, she is an advisor to Hwa Chong Institution and Lincoln College at Oxford University. She was also the Founder President of the Financial Women’s Association in Singapore, a non-profit organisation she founded and pioneered in 2001 to help develop and mentor women in the financial industry. Su Shan graduated with a Master of Arts from Oxford University in the United Kingdom, where she studied Politics, Philosophy and Economics. She has also completed executive leadership courses in Harvard Business School, Stanford Business School and Singularity University.
British Billionaire James Dyson Co. Dyson Holdings Pays $1.1 Billion Dividend to Family Office Weybourne Holdings in 2021, $560 Million Dividend Expected in 2022
6th October 2022 – British billionaire James Dyson’s company Dyson Holdings paid $1.1 billion dividend to his family office Weybourne Holdings in 2021, with $560 million dividend expected in 2022. James Dyson is the founder of Dyson and inventor of Dyson vacuum cleaner, and is estimated to have a personal fortune of around $12 billion (2022). In 2019, James Dyson had relocated to Singapore, switched Dyson Headquarters to Singapore and setup a family office thereafter in Singapore. He is also involved in 2 of the highest profile property transactions in Singapore by buying a 3-storey Penthouse for $54 million in 2019 and selling for $47 million in 2020, and buying a $37 million 15,000 square feet bungalow that overlooks UNESCO World Heritage site Singapore’s Botanic Garden. In 2021 April, James Dyson switched his residency back to UK from Singapore. UK income tax rate is at 45% for above £150,000 while Singapore income tax rate is at 24% for above $1 million.
Billionaire James Dyson Switches Residency Back to UK from Singapore
In April 2021, British billionaire James Dyson, who in 2019 had relocated Dyson headquarters from United Kingdom (UK) to Singapore, switched his residency back to UK from Singapore.
James Dyson
In 2019, James Dyson had relocated to Singapore, switched Dyson Headquarters to Singapore and setup a family office thereafter in Singapore. He is also involved in 2 of the highest profile property transactions in Singapore by buying a 3-storey Penthouse for $54 million in 2019 and selling for $47 million in 2020, and buying a $37 million 15,000 square feet bungalow that overlooks UNESCO World Heritage site Singapore’s Botanic Garden.
James Dyson is the founder of Dyson and inventor of Dyson vacuum cleaner. In 2021, he is estimated to have a personal fortune of around $10 billion.
In April 2021, BBC reported James Dyson and UK Prime Minister Boris Johnson had exchanged messages in March 2020 at the beginning of Covid-19. The texts included James Dyson getting assurance from UK Prime Minister Boris Johnson that his staffs will not face a change in their tax situation, if they were to return to UK to assist in making ventilators.
UK & Singapore Tax Rates
UK income tax rate is at 45% for above £150,000 while Singapore income tax rate is at 22% for above $320,000.
UK Income Tax Rate
| Taxable income | Tax rate (%) |
| Up to £12,570 | 0% |
| £12,571 to £50,270 | 20% |
| £50,271 to £150,000 | 40% |
| over £150,000 | 45% |
Singapore Income Tax Rate
| Chargeable Income | Tax Rate (%) |
| First $20,000 | 0% |
| Next $10,000 ($20k onwards) | 2% |
| Next $40,000 ($30k onwards) | 3.50% |
| Next $40,000 ($40k onwards) | 7% |
| Next $40,000 ($80k onwards) | 11.50% |
| Next $40,000 ($120k onwards) | 15% |
| Next $40,000 ($160k onwards) | 18% |
| Next $40,000 ($200k onwards) | 19% |
| Next $40,000 ($240k onwards) | 19.50% |
| Next $40,000 ($280k onwards) | 20% |
| Next $180,000 ($320k onwards) | 22% |
| Next $500,000 ($500k onwards) | 23% |
| In excess of $1 million | 24% |
Related:
- British Billionaire James Dyson Co. Dyson Holdings Pays $1.1 Billion Dividend to Family Office Weybourne Holdings in 2021, $560 Million Dividend Expected in 2022
- Billionaire James Dyson Switches Residency Back to UK from Singapore
- British Billionaire James Dyson Buys Singapore Penthouse at $54 Million in 2019, Sells for $47 million in 2020
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