Singapore billionaire leaves US$13.2 billion fortune to grandchildren only, skipping children entirely in rare inheritance move

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By YEET Magazine Staff, YEET Magazine
Published October 3, 2025

“Six grandchildren of late Singapore tycoon Goh Cheng Liang have become billionaires after inheriting stakes in his paint empire.” e.vnexpress.net Straits Times

A startling decision in the world of ultra‐wealthy families: Singaporean tycoon Goh Cheng Liang, who passed away on August 12 2025 at age 98, has reportedly arranged his fortune—estimated at US$13.2 billion—to be passed directly to his grandchildren, bypassing his own children entirely. The Straits Times

From humble beginnings to a paint empire

Goh started life modestly, selling fishing nets and rubber-tap work before launching a paint business in Singapore in the mid-1950s. Wikipedia, Business Times Over decades he expanded via his investment company, Wuthelam Holdings, into the Asia-Pacific coatings sector, including controlling stakes in Japan’s largest paint manufacturer. The Business Times

When he died, his estate was valued at about US$13.2 billion. The Business Times

The decisive skip over generation two

What has caught the world’s attention is the manner of the inheritance. Instead of leaving his assets to his children, the filings show that a 55 % stake in Nippon Paint (via Wuthelam) was transferred in December to six of his eight grandchildren. The Straits Times

These six grandchildren each now hold stakes worth more than US$1 billion, underlining the size of the gift. The Straits Times

Meanwhile, Goh’s son, Goh Hup Jin, retains about 91 % of the voting rights in the business holding company, giving him de facto decision-making control, despite not being the primary economic beneficiary. The Straits Times

Why this matters: what this tells us about inheritance and family dynamics

1. A strategy shift in ultra-wealthy succession
Traditionally, many business families hand over fortunes to children (second generation) first, perhaps gradually to grandchildren. But skipping a generation points to a more complex strategy: perhaps tying governance (voting rights) to generation two while giving economic value to generation three. Experts say such moves are less common in Asia. The Straits Times

2. Family dynamics & generational trust
Such a move can reflect trust in the younger generation, or a desire to reward grandchildren earlier, or possibly protect assets from intra-family conflict among children. In splitting economic benefit from control rights, Goh seems to have designed a structure that keeps decision-making consolidated while distributing wealth more widely.

3. Estate tax, legacy & philanthropy implications
For the ultra-rich, the structure of inheritance affects taxes, legacy planning and the continuing role of the business. Although Singapore has no estate tax, cross-border holdings (Japan, Singapore) add complexity. Also, Goh had philanthropic interests via the Goh Foundation, so his wealth-transfer choice may shape how his legacy is carried forward. The Business Times

What the story looks like behind the scenes

According to filings, the six grandchildren include:

• April Goh (daughter of Goh’s younger son, reportedly received the largest share ~US$3.4 billion). e.vnexpress.net
• Three daughters of Goh Hup Jin (Charlotte, Henrietta and Victoria) each holding about US$1.1 billion in stakes. The Straits Times
• Two children of Goh’s daughter Chiat Jin: Martin Yuen-An Lavoo and Johan Zhong-An Lavoo. The Business Times

Filings do not show the children’s full economic stakes, though Hup Jin retains voting rights control. Goh’s family reportedly declined media comment. The Straits Times

What you can learn from this story

• If you’re in a wealth-transfer planning situation, consider both economic value (who gets the money) and control rights (who runs things).
• Skipping a generation is rare, but possible—and sending wealth straight to grandchildren can reshape family relationships and incentives.
• In family business-led fortunes, structuring transfers can separate the business governance from ownership decisions.
• For children of affluent parents: a large inheritance isn’t a guarantee of control or involvement—structures matter.
• For grandchildren: receiving an inheritance early can pose challenges—responsibility, expectation, and how to carry the legacy.

Key takeaway

By passing his fortune directly to grandchildren while retaining governance in his children, Goh Cheng Liang has set an unusual precedent among Asian dynastic fortunes. The decision throws open the door to new questions: What motivates bypassing children? How will it affect family cohesion? And how might other ultra-wealthy individuals follow similar paths?

What You Can Do Now

• If you’re part of a family business, map out both who will get the assets and who will make decisions.
• Consider the impact of skipping a generation, and whether your family dynamics support it.
• Talk openly about legacy, expectations, and structure so all family members understand the choices.
• Review tax, legal and cross-border issues when transfers involve different countries or public companies.
• Watch how this case might influence other wealthy families’ decisions—and how media and regulators respond.

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Sources:
“The Business Times – Goh Cheng Liang’s passing turns six grandchildren into billionaires.” The Business Times
“The Straits Times – Late Singapore tycoon’s fortune makes six grandchildren billionaires.” The Straits Times
“VNExpress – 6 grandchildren of late Singapore tycoon Goh Cheng Liang become billionaires under unusual inheritance plan.”