Kwek Leng Beng is the executive chairman of Singapore's Hong Leong Group, founded by his father in 1941.
Kwek is also executive chairman of City Developments, the island state's second-largest property developer.
Kwek's son, Sherman, has been group CEO of City Developments since 2018.
In March 2023, the company bought the historic St Katharine Docks in central London for about $500 million, and subsequently acquired hotels in Brisbane and Seoul.
His cousin Quek Leng Chan, also a billionaire, owns and runs a separate group in Malaysia, also called Hong Leong.
In 1995, Kwek, together with Saudi billionaire Prince Alwaleed Bin Talal Alsaud, bought the Plaza Hotel in New York City from Donald Trump.
Kwek's Fujian-born father started out with a general trading store in Singapore, selling items such as ropes, paints and supplies for rubber plantations.
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Billionaire Kwek Leng Beng’s City Developments is stepping up the revamp of its properties in Singapore and overseas amid heightened macroeconomic headwinds.
Billionaire Kwek Leng Beng’s City Developments bought the historic Hilton Paris Opera Hotel for about $260 million, expanding its footprint ahead of this year's Olympics in the French capital.
Billionaire Kwek Leng Beng's City Developments is in talks to buy the Hilton Paris Opera hotel as company expands its global footprint amid a travel boom.