Goh Cheng Liang, Singapore’s second-richest person, dies at 98

Goh, 98, had a net worth of $13.2 billion and was the Asian financial hub’s second-richest person, according to the Bloomberg Billionaires Index.

Singapore billionaire Goh Cheng Liang has died, Wuthelam Group which he founded, said in a statement on Tuesday.

“The visionary founder of Wuthelam Group and a respected philanthropist passed away peacefully this morning with family members by his side,” according to the statement.

Goh founded Nippon Paint South East Asia, or Nipsea, which manages Asia Pacific’s biggest paint-making businesses. His stake in the closely held firm was through his Singapore-based investment company, Wuthelam Holdings Pte. His group owns a nearly 60% stake in Nippon Paint Holdings.

Goh, 98, had a net worth of $13.2 billion and was the Asian financial hub’s second-richest person, according to the Bloomberg Billionaires Index.

The family’s other business ventures included a former shopping mall and Mount Elizabeth Hospital, both of which he developed and later sold.