Celebrities who disinherited their children

[jw5]

Shaquille O'Neal​

The biggest centre in the history of the NBA has a fortune of about 400 million dollars. He recently said that this money will not automatically go to any of his six children.

 

[jw5]

'We ain't rich; I'm rich.'​

In an interview with The New York Post', Shaq said that "My kids are older now. They kinda upset with me. Not really upset, but they don’t understand." The reason? I tell them all the time. We ain’t rich. I’m rich."

 

[jw5]

The reason? Work ethic​

"You gotta have bachelor’s or master’s," Shaq told his kids. "And then, if you want me to invest in one of your companies, you’re going to have to present it, boom boom boom, bring it to me... I’ll let you know, I’m not giving you nothing."

 

[LITTLEREDDOT]

On the other hand, the Asian...no, Singapore...parents buy properties for each of their children so that they have another headstart in their lives.

 

[glockman]

'We ain't rich; I'm rich.'​

In an interview with The New York Post', Shaq said that "My kids are older now. They kinda upset with me. Not really upset, but they don’t understand." The reason? I tell them all the time. We ain’t rich. I’m rich."

View attachment 134930

The reason? Work ethic​

"You gotta have bachelor’s or master’s," Shaq told his kids. "And then, if you want me to invest in one of your companies, you’re going to have to present it, boom boom boom, bring it to me... I’ll let you know, I’m not giving you nothing."

View attachment 134931

Shaq is right, that's the way to do it. Unfortunately most are not like him. My parents gave me nothing, I've had to work for all I have.

 

[jw5]

Shaq is right, that's the way to do it. Unfortunately most are not like him. My parents gave me nothing, I've had to work for all I have.

Shaq is a really smart chap. He wants his children to have the ability to manage his businesses or carve out their own careers, not simply fritter money away.

 

[glockman]

Shaq is a really smart chap. He wants his children to have the ability to manage his businesses or carve out their own careers, not simply fritter money away.

yes, he has the right values and is passing them on to his kids.

 

[LITTLEREDDOT]

Meanwhile, Kiat Lim is making the most of the silver spoon that is in his mouth.

Singapore businessman Peter Lim and son partner Ronaldo to launch digital football platform​

Local billionaire Peter Lim and his son have joined forces with Cristiano Ronaldo for the soft launch a digital platform which connects the football industry. PHOTO: CRISTIANO RONALDO/INSTAGRAM

David Lee


OCT 18, 2021

SINGAPORE - Local billionaire Peter Lim and his son Kiat Lim have joined forces with Manchester United superstar Cristiano Ronaldo for the soft launch of ZujuGP, a digital platform to connect the football industry including fans, club owners, players, agents and scouts.
The company aims to drive communication and commerce in the global football community of four billion fans, allowing them to watch live games virtually, engage with players, buy merchandise and bet, while making it easier for clubs and agents to scout talents.
Beta testing for select users should begin in the first half of 2022 as it takes an "incremental approach".
Peter, 68, has owned La Liga club Valencia since 2014 and witnessed first-hand how football finances have taken a hit during the coronavirus pandemic. After some discussions with Kiat, a concept emerged in the first quarter of 2020.
ZujuGP co-founder Kiat, a 28-year-old businessman who grew up watching Manchester United games with his dad, told The Straits Times: "He has a great passion for football and while I'm not a coder or developer, I love technology and innovation and this all-in football app is a result of both our interests colliding.
"We believe that the way to increase revenue in football is through technology and delivering value to fans instead of just passively watching football.
"The end game is to be the go-to app for the football community, whether you are a fan, or a young talent looking for opportunities, or a coach looking for players, or anyone looking to get their feet wet in the industry.

"I know it's big and huge, but I believe we can create this valuable product by building on the unique position my family is in, with my father being deeply anchored in football as one of the few Asian owners of a top football club."
Three of the platform's elements are promoted on its website. ZujuGamePlay will be a "virtual stadium where you can participate as a fan, pundit, bidder or event creator".
ZujuGP Exchange will offer a global database of talents, professionals and clubs for hiring opportunities, while ZujuGP Rank is a digital football academy that offers professional drills, specialist training, mentoring, nutrition and rehabilitative conditioning.
Kiat shared that there will be a heavy focus on the Asian market, and explained: "Even though its infrastructure may be behind Europe, the fan base and the reach in Asia are huge, and the connectivity is high. We believe this is a market full of untapped potential."


Last Wednesday (Oct 13), Ronaldo, whose image rights are owned and administered by Peter's Mint Media Sports, posted on Instagram a ZujuGP promotional video of him starring as a mask-wearing and umbrella-wielding warrior.
His changing face masks signal the changing face of football as audiences shift, revenues fluctuate and digitisation and failed breakaways disrupt the industry, according to the company.

In five days, the video was viewed more than nine million times, and the man with 356 million Instagram followers said: "I have known him (Peter) for many, many years and to be involved in this project with him makes me so happy; and that the east and west can be finally connected, which makes me even happier."
Appreciating the support of the five-time Ballon d'Or winner, Kiat said: "Ultimately, we want to build a good product that adds value to everyone's football experience, and it is just as important to let people know about it.
"Cristiano Ronaldo's reach is astronomical, so to have his friendly support is definitely a booster for ZujuGP."

 

[bigcockman]

On the other hand, the Asian...no, Singapore...parents buy properties for each of their children so that they have another headstart in their lives.

That's not always true.

I admit my late dad bought me my condo apartment which I am staying in alone now.

But I am still working very hard myself to earn my own living with my own savings.

Of course I thank him because I do not have a mortgage loan to worry about, but that's all about it.

And what I have inherited from him are all in the various investments. I have never touched those monies.

 

[LITTLEREDDOT]

Wong Kim Hoh Meets...​

Is it wrong to be born fortunate? Kiat Lim on what it is like to be the son of billionaire Peter Lim​

Kiat Lim wants to expand what his billionaire father Peter Lim has built and take it to the next level


The son of billionaire Peter Lim is branching into many aspects of the tech industry which includes his football-based platform ZujuGP.

Wong Kim Hoh
Deputy Life Editor

DEC 5, 2021

It's nasi lemak for lunch but Mr Lim Wee Kiat - or Kiat Lim as he prefers to be known - is giving the fried fish and fried chicken a wide berth.
"Four more months," the 28-year-old son of billionaire Peter Lim pronounces. "Four more months before I can eat meat again."
The abstinence is not driven by vanity but love for his one-year-old pet. Plum is a lavender pomeranian, a rare pom breed with a unique coat colour, in this instance, a startling burnished chocolate.
"He has a liver issue and the vet said that it could affect his lifespan. I got a bit upset so I sumpah that I would give up meat for a year so he would get better," he says, using the Malay word for vow.
"I'm not so strict lah. Got eyes, got nose, got ears cannot eat. But eggs, I can eat lah. I started on chap goh mei this year so I will stop on chap goh mei next year," he adds, referring to the 15th day of Chinese New Year.
We're in the dining room of a Chancery Road bungalow which his father - the owner of Spanish football club Valencia and the controlling shareholder of Thomson Medical Group - uses as an office. The entrance is inconspicuous but the property is sizeable, and designed like a Balinese villa, with a swimming pool in the midst of a lush tropical garden.
Easy-going and self-deprecating, Kiat speaks quickly and often lapses into Mandarin, Hokkien and Singlish. At 1.86m, he is a strapping fellow.

"I used to be fat as hell; I was 130kg for about 1½ years," he volunteers. "I'm now about 80kg, I lost the bulk of it when I was in my first year of university in Sydney."
"You know the guy who kidnapped the Sheng Siong mum? I was actually the first target," he says, referring to salesman Lee Sze Yong, who was sentenced to life imprisonment for kidnapping the elderly mother of Sheng Siong supermarket boss Lim Hock Chee in January 2014.
Reports said Lee's first target was Mr Peter Lim's children. "When the news came out, everybody texted me and said: 'Wah lucky you fat ah.'"


It's not easy being the scion - he has an elder sister, socialite and entrepreneur Kim Lim - of a man as rich and famous and with as storied a background as his father.
The son of a fishmonger, the elder Lim, 68, drove taxis and worked various odd jobs to fund his university education and became such a successful stockbroker that he earned the moniker Remisier King.

A photo taken in 1995 of Kiat and his father Peter Lim at Underwater World in Sentosa. PHOTO: COURTESY OF KIAT LIM
In the early 1990s, he made headlines when he invested US$10 million in palm oil company Wilmar before selling his shares for US$1.5 billion in 2010.
Today, the private investor who, according to Forbes Asia, has a net worth of more than US$2 billion (S$2.7 billion) has his finger in pies ranging from architecture and healthcare to hotels and start-ups.
Kiat and his sister Kim, 30, are his children from his first marriage. Since 2003, the billionaire has been married to former TV actress Cherie Lim.

As his dad's only son, Kiat has been a target all his life, not just of kidnappers but also naysayers all too eager to write him off as an ah sia kia (Hokkien for rich brat) riding on his father's coat-tails.
It's something he has long come to terms with.
"Is it wrong to be born fortunate? My dad had worked hard to provide me this life and I shouldn't be ashamed of it. I shouldn't hide. I shouldn't be scared.
"I cannot let the fear of what people might say about me not make me do what I want to do," says the psychology and finance graduate from the University of New South Wales.
He harbours no illusion, he says, that he would one day overshadow his father. But that does not mean he is not ambitious. On the contrary.
"My dad knows that. About a year ago, I said to him: 'Pa, I understand you worked very hard and I will never come close to what you did. You grew up a certain way. So did I. And I want to take what you have done to the next level'," he says guilelessly.
He started working for his old man immediately upon graduating in 2017, driving investment and business development for companies including Kestrel Capital, architectural practice RSP and Thomson Medical Group.
"My job for the first year was googling," he quips. "Every word I heard that I didn't know, I wrote down. Whitewash waiver, moratorium. I googled and I learnt and I found out about SGX rules," says Kiat who was involved in the reverse takeover of Thomson Medical by mainboard-listed Rowsley in 2017.
But he is a fast learner. Since coming on board, he has been pushing some of his father's companies in new directions such as bringing in new contracts and exploring new revenue streams including artificial intelligence and non-fungible tokens for RSP.

Kiat Lim with his one-year-old pet Plum, a lavender pomeranian, a rare pom breed with a unique coat colour. ST PHOTO: KUA CHEE SIONG
Appointed executive director of Thomson X, the digital arm of Thomson Medical Group, last week, he has also been identifying new areas of focus and spearheading the charge into health tech.
"Myopia," he says. "I look at my nephew and other children and how they are always glued to the screen. Myopia is going to be a huge problem here."
The transition to tech is, he says, "my passion point", which explains why he wants to carve a niche in the innovation and technology sector. For the last two years, he and a team of 20 have been beavering away at his personal project: a stealth start-up called Arc.
He declines to divulge more except to describe it as a digital platform not unlike a virtual country club, "an alternative space where people can come and meet other people".
"Everything is done. We just need to decide when is the correct time to launch it," he says excitedly.

Another venture, ZujuGP, made headlines when it was launched two months ago. Fronted by famous footballer and family friend Cristiano Ronaldo, it is a digital community built around football and allows soccer fans to, among other things, watch live matches, play games, interact with players, buy merchandise and bet. It is also a platform for club owners, agents and scouts to spot and develop new talents.
ZujuGP is the brainchild of father and son.
For more than a year, Kiat had been telling his old man about trends in digital spacemaking and how his own project Arc is a community-led product.
"I told him it is now a collaborative world, no longer you versus me but you and me. Then one day, he came to me and said: 'Kiat, I want to do a football community platform and app,'" he says, with a laugh.
It made sense on several levels. The global football community - comprising more than four billion fans - is huge. The older Lim is influential and has strong ties with movers and shakers of the sport, counting many football greats, besides Ronaldo, as personal friends. He tried to buy Liverpool in 2010 and five years later acquired a hotel, cafe and hotel management company with the famed Class of 92 Manchester United footballers including Gary Neville, Ryan Giggs and Nicky Butt. In fact, Giggs and Butt were in Singapore earlier this week to launch ZujuGP's corporate social responsibility programme.

The experience Kiat gained from working on Arc came in handy in the development of ZujuGP, which took one year.
"I knew what to build, and how to build it and I knew who I could get to do it. My dad may not get a lot of the technical stuff but he is very forward-thinking and what he says makes a lot of sense."
They make a good tag team, he says. "My dad is the savvy deal cutter whereas I am more of the technical innovator. If anybody could do this, it was us."
His father, he says, has always expected him to work hard and know the value of money. When he wanted to take a gap year after completing university, he was told: "What gap, what year? You start work immediately. You were in uni for three years, you enjoyed yourself enough already."
And while it was always first class when he flew with the family as a kid, it was cattle class and budget flights when he travelled with friends from the age of 16. Once he wanted to save eight hours by taking a direct flight, with no stopovers, from Dubai to Seoul.
"It cost $1,000 more but when I asked him, he said: 'I give you eight hours and you show me if you can make $1,000. If you can, I'll buy you the ticket.'"

Father and son have always been close.
"He was very involved in my life. He took me to school every single day. It's something I appreciated only when I grew older. When you're young, you take a lot of things for granted," says the former student of Nanyang Primary and ACS International.
The elder Lim was strict but fair, he says. "My father probably raised his voice at me no more than five times in my life. One occasion was when I flunked my PSLE prelims. For one whole month after that, he sat down with me and went through my entire syllabus. He was my tutor and did that every day for a month. The score was not great - 221 - but it was all As, probably borderline As," he says with a guffaw.

Kiat Lim and Class of 92 Manchester United players Ryan Giggs (centre) and Nicky Butt at the launch of ZujuGP's corporate social responsibility programme at East Coast Parkway on Dec 2, 2021. PHOTO: ZUJUGP

When it comes to work, his father exerts no pressure.
"There is pressure, however, on me to be a caretaker. 'You are my son. You are the head of the house. You have to take care of the family,'" says Kiat, who has a five-month-old daughter. His wife, a communications graduate from the National University of Singapore, used to be an intern with the Autism Association of Singapore and "is dying to go back to work".
By his own accounts, he is a hard worker. "I think my dad knows that. He said to me: 'You are young and have a long runway. Don't burn out.'"
Kiat - who reads manga and watches anime to destress - says he is not obsessed with making his own mark. "A lot of people, especially those from my generation, are so caught up about being self-made. 'I don't want my father's money... this and that.' Honestly, it's just ego and pseudo-accountability to yourself," he says, eyes rolling.
"I'm lucky that I can do what I want to do. And what I want to do is to create synergy and value, and use what my father has built as a platform to grow even bigger."

 

[LITTLEREDDOT]

Elroy Cheo also making full use of the silver spoon that was in his mouth when he was born.

Sons of Singapore tycoons want to create an NFT club​

Mr Kiat Lim (left) and Mr Elroy Cheo have founded ARC to create the exclusive community. PHOTOS: KUA CHEE SIONG, ELROXCHEO/INSTAGRAM


JAN 6, 2022

SINGAPORE (BLOOMBERG) - A pair of scions from Singapore's wealthiest families are teaming up to create a private social networking app based on non-fungible tokens (NFTs), becoming the latest among the well-heeled to jump aboard an intensifying crypto craze.
Mr Kiat Lim, the 28-year-old son of reclusive financier Peter Lim, and 37-year-old Elroy Cheo of the family behind edible oil business Mewah International have founded ARC to create the exclusive community.
The pair envision an online club where membership is open to anyone holding the start-up's NFTs, from entrepreneurs to social media influencers.
Mr Kiat Lim and Mr Cheo are both crypto-enthusiasts with famous socialite sisters: Mr Lim's sibling Kim has some 319,000 Instagram followers, while Mr Cheo's sister Arissa has about 355,000.
They join a rush globally to cash in on the growing crypto-mania that is supercharging digital coin prices and start-up valuations. That shift quickened in 2021 as wealthy investors who once scorned digital tokens realised they could not bear to miss out on the potential for big gains.
ARC plans to first build an app-based community, bringing together individuals from Taipei to South Korea and Australia to network, collaborate on projects and share stories. After that, it plans to host exclusive member events, before eventually creating an ARC metaverse - a sprawling online virtual community - with a gaming element. The company plans to charge an annual subscription fee for those who eschew their NFTs.
"We are a networking ecosystem that encompasses online and offline experiences, and pushing online boundaries," Mr Kiat Lim said in an interview in Singapore.

ARC will rigorously authenticate its members to ensure users are who they say they are. The founders have been quietly working on their start-up since prior to Covid-19, prioritising referrals for membership similar to traditional clubs. The app is currently limited to iPhones, with an Android version in the testing phase.
The founders said they chose the name partly to express their ambition to bridge real and virtual worlds and the transition to Web3 - a still-ambiguous term for blockchain-based, decentralised systems envisioned as replacing the Internet as we know it.
"We want to create a community that Asia has never seen before," said Mr Cheo. "We see the world (changing) a lot, especially after Covid-19. People in this target segment now all want a sense of belonging."

 

[zhihau]

子若有才無需留財；
子若無才何必留財？

 

[bonds]

Shaq is right, that's the way to do it. Unfortunately most are not like him. My parents gave me nothing, I've had to work for all I have.

KNN Bot,

I really admire and respect you.

Your parents left you in a circuit board,
but from scratch, you had buit your karang guni business into a
multi-Billion dollar empire.

 

[jw5]

Elton John leaves his fortune to charity​

The musician and his partner will leave £53 million to charity, because they want to encourage respect for work and money in their children.

 

[jw5]

Bill Gates: charity​

Bill Gates has decided to donate much of his fortune to charity in order to give a valuable life lesson to his children Jennifer, Rory and Phoebe. This way they can understand the true value of money.

 

[Hypocrite-The]

Wat A curse having such parents. If these parents don't want to give their wealth to their kids...than why breed?

 

[tanwahtiu]

Shaquille O'Neal​

The biggest centre in the history of the NBA has a fortune of about 400 million dollars. He recently said that this money will not automatically go to any of his six children.

View attachment 134929

BLM with white man name. Shameful. Time to change to their birth right name... BLM given white man name remind them of slavery.

 

[bonds]

Wat A curse having such parents. If these parents don't want to give their wealth to their kids...than why breed?

KNN

Pun and LiteralLee,

For fcuks.

 

[mahjongking]

dont think all these people give their children nothing lah.........maybe 10% of their wealth

 

[Hypocrite-The]

KNN

Pun and LiteralLee,

For fcuks.

Fuck Cm can don't breed due to modern technology. Not like in the past