Last updated on December 25, 2025
SINGAPORE: Singaporean tycoon Goh Cheng Liang, founder of Wuthelam Holdings and the controlling shareholder of Tokyo-listed Nippon Paint, has passed away at the age of 98, the group confirmed in a statement on 12 August.
Born in 1927, Goh began his paint journey in 1955 with a modest shop before becoming the main distributor for Nippon Paint in 1962. He later founded Wuthelam Holdings in 1974, cementing his place as a cornerstone of Asia’s coatings industry.
According to Forbes’ 2025 ranking, Goh was the 182nd richest person globally, with a net worth of approximately US$13 billion. He was also ranked among Singapore’s wealthiest, with a net worth of US$10.4 billion in 2024.
One of Goh’s most significant business moves came in August 2020, when the family increased its stake in Nippon Paint to just under 60%—an acquisition valued at ¥1.29 trillion (about US$16.7 billion at the time). This deal was spearheaded by his son Goh Hup Jin, who has served as chairman of Nippon Paint since 2018.
In his final days, Goh was remembered not just as a successful entrepreneur, but also as a visionary philanthropist. A Bloomberg tribute described him as passing “peacefully this morning with family members by his side” and praised his legacy both in business and benevolence.
