Ong Beng Seng

Ong Beng Seng is a Singaporean business magnate and husband of fashion icon Christina Ong. His investments are worth millions of dollars and he is the founder of the Singapore-based organisation Hotel Properties, as well as shareholder of many businesses. Forbes estimates the net worth of Ong and his wife at $1.8 billion (as of July 2014), making them the 15th richest people in Singapore.^[1]

Early life

Ong was born in Malaysia. When he was four years old, his family relocated to Singapore. His career began when he joined an insurance firm for ships. In 1975, he joined Kuo International, founded by businessman Peter Fu Yun Siak and there he met his later-to-be spouse, Christina.^[2]

Career

After beginning his trading career at Kuo International, Ong went on to found his own firm, Hotel Properties Limited. Today, he controls many businesses, including a few based in Bond Street in London, and his investments are worth tens of millions of dollars.^[2] He is also a well-established hotelier, having bought and built many hotels worldwide.^[2] Ong is also credited as one of the people most responsible for bringing the Singapore Grand Prix to the country, the first Formula One night race.^[3]

Personal life

A "glitzy figure in Singapore and abroad",^[2] Ong is married to Christina Ong (née Fu), the daughter of an oil magnate. They have two children, a daughter and a son.^[2] Ong was described by Hilary Clarke of The Independent as "media shy" and "notoriously secretive".^[2] Despite that, he is known to be well-acquainted with many Hollywood celebrities.^[2]

Wealth

Ong's business approach is to "[b]uy when rents and properties are cheap and sell when they are not."^[2] As of July 2012, the Ong family, comprising Ong and his wife, is worth $1.6 billion, based on estimates by Forbes, making the couple Singapore's 10th richest persons.^[4]

References