⬅ # 416 Lynsi Snyder|# 418 Neil Bluhm

# 417 Philip Ng 

$6.83B

Real Time Net Worth
as of 5/27/2024
$2.1M (0.03%)

# 417 Philip Ng 

$6.83B

Real Time Net Worth
as of 5/27/2024
$2.1M (0.03%)
OccupationCEO, Far East Organization
Source of WealthReal Estate
Age65
ResidenceSingapore, Singapore
EducationBS in Engineering, Kings College London; Masters of Science in Technology, Massachusetts Institute of Technology (MIT)
Age-Adjusted Net Worth$4.87B
Philip Ng
Philip Ng
Singapore
Net worth: $6.83B

Self-Made Score 

Biography

Overview

Philip Ng is the CEO of Far East Organization (FEO), Singapore's largest private landlord and property developer.
He is the son of Ng Teng Fong, the late property tycoon who founded FEO.
Philip's sister, Dorothy Chan, serves as the company’s executive director.
His older brother, Robert, oversees FEO’s Hong Kong operation, Sino Group.
Philip Ng is a respected philanthropist and a devout Christian, declaring FEO a 'Christian Enterprise.'
He was conferred the Meritorious Service Medal in 2009 and the Distinguished Service Order in 2018 for his contributions to Singapore's economy and diplomatic service.

Company Overview

Far East Organization (FEO) is Singapore's largest private landlord and property developer.
It produces one in every six houses sold to the public in Singapore.
FEO has won ten FIABCI Prix d'Excellence Awards, the highest honor in international real estate.
The company employs approximately 13,000 people globally.
FEO operates over 90 hotels and serviced residences in nine countries, with a development pipeline for more.
Philip Ng oversees FEO's operations, while his brother Robert manages the Hong Kong arm, Sino Group.

Philanthropy and Public Service

Philip Ng is known for his philanthropic endeavors.
He served as Singapore’s ambassador to the Argentine Republic and Republic of Chile.
Ng was Chairman of the Sentosa Development Corporation from 2001 to 2007.
He served as the founding chairman of the Singapore University of Technology and Design (SUTD) until August 2016.
Ng has been honored with prestigious awards, including the Meritorious Service Medal and the Distinguished Service Order.

How long would it take you to become as rich as Philip Ng?

If you started with $10,000 and invested an additional $500 each month at a 44.02% CAGR, it would take you 5 years to reach Philip Ng's net worth of $6.83B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.57% compared to 11.75% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Philip Ng is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Philip Ng, Real Estate is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey