Yang Berbahagia Dato'

Ong Beng Seng
BornJanuary 1946 (age 77–78)
British North Borneo
NationalityMalaysian
OccupationBusinessman
SpouseChristina Ong
Children2

Dato' Ong Beng Seng (Chinese: 王明星; pinyin: Wáng Míng Xīng; born January 1946) is a Singapore-based Malaysian billionaire businessman. He is the founder of the Singapore-based organisation Hotel Properties and a shareholder of various businesses.

Early life

Ong was born in January 1946 in British North Borneo, which is modern-day Sabah.[1] When he was four years old, his family emigrated to Singapore. Ong Beng Seng has three brothers, Beng Huat, Beng Lim and Beng Min. 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 a well-established hotelier, having bought and built many hotels worldwide.[2] As the chairman of race promoter Singapore GP, Ong is credited with bringing Formula One racing to the country; the inaugural Singapore Grand Prix, which was also the first F1 night race, was held in 2008.[3][4] On 14 July 2023, it was announced that he had been arrested in a potential corruption case related to Singapore's Minister of Transport S. Iswaran, with a notice of arrest issued for him by the Corrupt Practices Investigation Bureau (CPIB).[5]

Personal life

Ong lives in Singapore with his family. He is married to Christina Ong (née Fu), the daughter of a businessman; they have a daughter and a son.[2] A "glitzy figure in Singapore and abroad", Ong was described by Hilary Clarke of The Independent as "media shy" and "notoriously secretive". Despite that, he is known to be well-acquainted with many Hollywood celebrities.[2]

Wealth

Ong's business approach is to "buy when rents and properties are cheap and sell when they are not."[2] Forbes estimates the net worth of Ong and his wife Christina Ong at $1.75 billion as of September 2022, making them the 24th richest people in Singapore.[6]

References

  1. ↑ Min, Chew Hui (14 July 2023). "The man who brought F1 to Singapore: Who is billionaire hotelier Ong Beng Seng?". CNA. Archived from the original on 14 July 2023. Retrieved 14 July 2023.
  2. 1 2 3 4 5 6 Clarke, Hilary (29 March 1998). "Profile: Beng Seng and Christina Ong: Asian pair sell west, buy east". The Independent. Archived from the original on 24 May 2022.
  3. ↑ Wong, Shiying (14 July 2023). "Tycoon Ong Beng Seng issued notice of arrest, asked by CPIB to give info on interactions with Iswaran". The Straits Times.
  4. ↑ "Formula 1™ - the Official F1™ Website". Archived from the original on 24 January 2012. Retrieved 5 June 2013.
  5. ↑ "HPL billionaire boss Ong Beng Seng implicated in CPIB probe over S Iswaran, given notice of arrest and posted S$100,000 bail". TODAY. Retrieved 14 July 2023.
  6. ↑ Burgos, Jonathan (7 September 2022). "Ong Beng Seng Positions His Flagship Hotel Properties For Post-Pandemic Recovery". Forbes. Retrieved 14 July 2023.
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