Kuok Khoon Hong was born in 1951 in Singapore of Chinese descent, and is a businessman, best known to the world as the co-founder of the Wilmar International, which is one of the leading Asian companies producing palm oil. However, over the years, he has expanded his business to other industries, including sugar and cocoa.
Have you ever wondered how rich Kuok Khoon Hong is, as of mid- 2016? According to authoritative sources, it has been estimated that Kuok Khoon Hong`s net worth is as high as $2.5 billion, an amount acquired through his successful career as a businessman, and despite the fact that his wealth can vary daily according to stock exchange movements, this puts him in the top ften richest Singaporeans.
Kuok Khoon Hong Net Worth $2.5 Billion
Little is known about Kuok`s early life and education, however, in tertiary education he graduated from McGill University Desautels Faculty of Management in Montreal, Canada in 1973, with a Bachelor of Commerce degree.
There is no information about his life before he co-founded the Wilmar International in 1991. Little by little his company grew, and began acquiring new companies, which only expanded his business and increased his net worth.
Since the inception, Wilmar International has expanded its area from palm oil cultivation, to other products, such as oilseeds,grains and soyabean, oleochemicals and specialty fats among others. It has grown to 450 manufacturing plants and has expanded to countries such as China, India, among many others, reaching a number of 50 countries to which its products are distributed.
Over the years, Kuok has acquired several other companies through the Wilmar International which is now an investment holding company, including PT Cahaya Kalbar Tbk in 2005, Olam International Ltd and SIFCA Group in 2007, and the same year also expanded its business to the Philippines, establishing two coconut mills. He has also acquired PT Duta Sugar International in Indonesia, which is an oil-bottling business as are factories established in both China, and in Vietnam which also produces sauces. All these acquisitions have considerably improved Kuok’s net worth.
Moving further afield, in 2008 Kuok managed to form an alliance with Nizhny Novgorod Fats & Oils Group and Delta Exports Pte Ltd, which only helped him expand his business into Russia. Furthermore, Kuok also bought the Proserpine Mill in Australia, which marked the beginning of his involvement in the sugar industry, and in 2015 acquired Goodman Fielder, with a little help of First Pacific, buying 50% of the shares. All of these have helped him to increase his overall net worth even more.
When it comes to his personal life, Kuok Khoon Hong is married and has four children, however, other details of his life and marriage are unknown in the media as he prefers to maintain privacy.
Kuok Khoon Hong is also recognized as the nephew of the Malaysian billionaire Robert Kuok, chairman of the Shangri-La Hotels and Resort.
|Net Worth||$2.5 Billion|
|Date Of Birth||1951|
|Place Of Birth||Singapore|
|Education||McGill University Desautels Faculty|