Wednesday, August 17, 2022

The number of Chinese millionaires in Singapore has increased

 Research, editing : Gan Yung Chyan, KUCINTA SETIA

News on Singapore

Surprisingly, the queen of Alipay and the father of Taobao are "moistened" and hit the richest man in Singapore

Editor : Fang Xun / Source: Yijian Financehttps://www.aboluowang.com/2022/0817/1790652.html

Peng Lei, one of Ali's "Eighteen Arhats" and known as the "Queen of Alipay", was recently exposed to immigrate to Singapore. According to an analysis by Henley & Partners, a London-based investment immigration consultancy, from 2022 to now, about 15,000 millionaires in China have changed their nationality, causing more than $48 billion in wealth to flow overseas. As early as 2015, Peng Lei's husband, Sun Tongyu, had already bought a set of flats worth 300 million yuan in Singapore. On 14 April 2003, after Alibaba had begun to scale, Sun Tongyu was assigned by Jack Ma to lead the Taobao entrepreneurial team and built Taobao into China's largest C2C website in just 3 years. He was later known as the "Father of Taobao".


Peng Lei, one of Ali's "Eighteen Arhats" and known as the "Queen of Alipay", was recently exposed to immigrate to Singapore.

In 2021, Peng Lei will be ranked 1064th in the "2021 Forbes Global Wealth List" with a net worth of $2.9 billion.

Before this news came out, her husband, Sun Tongyu, also from Ali, already held Singapore permanent resident status.

Alipay Queen

Peng Lei joined Alibaba in 1999, first worked as HR for 10 years, and single-handedly built the Alibaba value system.

In 2010, Peng Lei was appointed to be the CEO of Alipay, and in 2015, she became the chairman and CEO of Ant Financial. She moved from behind the scenes to the front of the stage, and finally created the giant Alipay.

In Ali, Peng Lei is Jack Ma's most effective assistant, and is also known as one of the three most influential female executives in global Internet companies.

On the eve of Ant Group's listing in 2020, some people have calculated that if the listing is successful, the shares held by Peng Lei will enable her to surpass the richest woman in China that year, Yang Huiyan of Country Garden.

In October 2020, after Jack Ma’s speech at the Shanghai Financial Summit, Ant Group’s listing plan was urgently halted. Peng Lei's hope of becoming the richest woman was shattered but Peng Lei at that time was already in Singapore.

In 2018, Peng Lei stepped down as the CEO of Ant Financial and moved to Southeast Asia to lead the e-commerce platform Lazada and carry out internationalization for Ali but a few months later, Peng Lei abruptly stepped down as Lazada’s CEO, leaving only the chairman position.

Husband has immigrated

As early as 2015, Peng Lei's husband, Sun Tongyu, had already bought a set of flats worth 300 million Dollars in Singapore.

According to Singapore's Lianhe Zaobao, this luxury penthouse, equipped with a sky garden, a dedicated elevator and a swimming pool, set a record for the most expensive penthouse in Singapore at the time. In addition, the report also mentioned that Sun Tongyu holds Singapore permanent resident status.

In Ali, Sun Tongyu is also a big shot.

On 14 April 2003, after Alibaba had begun to scale, Sun Tongyu was assigned by Jack Ma to lead the Taobao entrepreneurial team and built Taobao into China's largest C2C website in just 3 years. He was later known as the "Father of Taobao".

However, when Taobao was in full swing, Sun Tongyu suddenly resigned in March 2008. Even Peng Lei, his wife who was in charge of the company's human affairs at the time, did not disclose any news beforehand.

After leaving Taobao, Sun Tongyu seems to have completely disappeared from the Internet circle. Until 2015, he invested in Pinduoduo as an angel investor. At that time, Duan Yongping, SF Express Wang Wei and NetEase Ding Lei also invested together.

Sun Tongyu has long been a permanent resident of Singapore, and now Peng Lei is also working and living in Singapore, and it is not surprising to be exposed to immigration.

According to industry insiders, with the qualifications and financial resources of Peng Lei and Sun Tongyu, there are many options for the two to immigrate to Singapore. One of the most convenient and fast is to set up a family office in Singapore, transfer the property to Singapore, and you can quickly get a Singapore green card.

Peng Lei joined Singapore with huge wealth, and was also reported by local media, "will impact the status of Singapore's richest man".

News (2)

Rich people immigrating to Singapore

In addition to Peng Lei's husband Sun Tongyu, many of Alibaba's top executives are buying real estate in Singapore.

At the end of 2020, Yu Yongfu, one of Alibaba's partners, with Singapore permanent resident status, bought a penthouse in Singapore for SGD 26 million.

Another Ali co-founder and senior vice president, Sheng Yifei, bought a bungalow villa for S$50 million in Lidun Garden, a high-quality bungalow area in Singapore in 2018.

It’s not just Ali, in fact, it is not new for domestic rich people to immigrate to Singapore.

For example, Li Xiting, the richest man in Singapore in 2021, is from Dangshan County, Suzhou, Anhui Province, and graduated from the University of Science and Technology of China. The current chairman of Mindray Medical. The fourth place is Zhang Yong and Shu Ping. Zhang Yong was born in Jianyang, Sichuan and the founder of Haidilao.

Ranked 5th is Li Xiaodong, born in Tianjin, graduated from Shanghai Jiaotong University, founder of Southeast Asia Internet giant Donghai Group. No. 7 is Ye Gang, who was born in Wuxi, Jiangsu and is the chief operating officer of Donghai Group.

Zhao Changpeng, the previously sensational currency circle tycoon, has long since moved to Singapore.

Lianhe Zaobao recently reported that there are estimated to be more than 500 Chinese high-net-worth individuals planning to move to Singapore in 2022, and the wealth they may bring with them is estimated to be at least US$2.4 billion.

Epilogue

According to an analysis by Henley & Partners, a London-based investment immigration consultancy, from 2022 to now, about 15,000 wealthy Chinese have changed their nationality, causing more than $48 billion in wealth to flow overseas.

Behind this, how many, like Peng Lei, have stood on the trend of the times, and coupled with their own efforts, entrepreneurial pioneers, from scratch, from migrant workers to corporate executives, to achieve financial freedom, but now they no longer have the courage of the year . It is said that the rich first drives the rich later, but the fact is even more skinny is that the rich first take the money and run away first.


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