Chang Yun Chung: Chang Yun Chung Net Worth, Biography, Age, Spouse, Children & More

About Chang Yun Chung

Chang Yun Chung (1918-2020), a trailblazing Singaporean billionaire and founder of Pacific International Lines (PIL), passed away at 102. Born in Kinmen, China, Chung's journey led him to Singapore amidst the Japanese invasion, where he later became a formidable force in the shipping industry. Starting PIL in 1967 with just two ships, he expanded it into a significant global player, notably entering China's market. Despite facing challenges, including a decline in net worth to $875 million in 2020, Chung's legacy as the world's oldest living billionaire and a visionary leader endures, leaving behind a robust enterprise and a large family, continuing to influence the shipping world profoundly.

Born

August 27, 1918 in Kinmen, China

Died

September 04, 2020 (aged 102)

Source Of Wealth

Shipping

Industries

Logistics

Citizenship

Singapore

Children

Chang Yun Chung was born on Kinmen Island, China, on August 27, 1918. He attended primary school in Kinmen and high school in Xiamen. He then studied at Xiamen Datung College in China.

Chang Yun Chung: Family

Chang Yun Chung had eight sons and six daughters. His son, Teo Siong Seng, succeeded him as the executive chairman of PIL in April 2018.

Chang Yun Chung: Career Highlights

Chang Yun Chung fled to Singapore with his family during the Japanese invasion of China in 1937. He moved to Malacca in 1940 to do business with his uncle. He hid in rubber plantations during the Japanese occupation of Malaya and returned to Singapore after the war. He continued doing business with his uncle in Malacca.

In 1948, Chang Yun Chung joined Thye Hin Guan Brothers, a produce company in Singapore, as the general manager. He entered the shipping business in 1949 after helping Thye Hin Guan Brothers form Kie Hock, a defunct shipping company. He served as a director at other shipping companies during this time.

In 1967, Chang Yun Chung founded PIL in Singapore. He started with two used ships and operated a route from Jakarta to Bangkok. He led PIL to become one of the first foreign shipping companies to venture into China. PIL expanded to become one of the largest shipping companies in Singapore.

Chang Yun Chung: Companies

Chang Yun Chung founded Pacific International Lines (PIL) in Singapore in 1967. He also served as a director at other shipping companies, including Thye Hin Guan Brothers and Kie Hock.

Chang Yun Chung: Major Achievements

Chang Yun Chung led PIL to become one of the largest shipping companies in Singapore. He was also instrumental in helping PIL become one of the first foreign shipping companies to venture into China.

Chang Yun Chung: Awards & Achievements

Chang Yun Chung was awarded the Public Service Star (BBM) by the Singapore government in 1970.

He was also awarded the Distinguished Service Order (DSO) by the Singapore government in 1978.

Chang Yun Chung: Personal Life & Legacy

Chang Yun Chung was married and had eight sons and six daughters. He passed away in his sleep in his Singapore home on September 4, 2020, at the age of 102.

Chang Yun Chung: Trivia

Chang Yun Chung became the world's oldest living billionaire in March 2017 after the death of David Rockefeller. His net worth fell below $1 billion in 2020, estimated at $875 million in August 2020.

Wealth History

Timeline

August 27, 1918

Chang Yun Chung is born on Kinmen Island, China.

1937

Chang Yun Chung flees to Singapore with his family during the Japanese invasion of China.

1940

Chang Yun Chung moves to Malacca to do business with his uncle.

1942

Chang Yun Chung is caught by the Japanese for aiding the anti-Japanese resistance.

1944

Chang Yun Chung is caught again by the Japanese and held captive until Japan's surrender in 1945.

1948

Chang Yun Chung joins Thye Hin Guan Brothers, a produce company in Singapore, as the general manager.

1949

Chang Yun Chung enters the shipping business after helping Thye Hin Guan Brothers form Kie Hock, a defunct shipping company.

1967

Chang Yun Chung founds PIL in Singapore.

2014

Chang Yun Chung becomes a billionaire.

March 2017

Chang Yun Chung becomes the world's oldest living billionaire after the death of David Rockefeller.

August 2020

Chang Yun Chung's net worth falls below $1 billion.

September 4, 2020

Chang Yun Chung passes away in his sleep in his Singapore home at the age of 102.

Chang Yun Chung : FAQs

What is Chang Yun Chung's net worth?

As of 2020, Chang Yun Chung's net worth was $1.10 billion.

What are Chang Yun Chung's main sources of wealth?

Chang Yun Chung's main source of income comes from Shipping.

In which industry does Chang Yun Chung primarily operate?

Chang Yun Chung is primarily involved in the Logistics industry.

Is Chang Yun Chung dead?

Yes, Chang Yun Chung died on September 04, 2020 (aged 102).

How many children does Chang Yun Chung have?

Chang Yun Chung has 14 children.

Who was Chang Yun Chung and what was his major contribution to the shipping industry?

Chang Yun Chung was a Singaporean billionaire and shipping magnate, best known as the founder of Pacific International Lines (PIL), which became one of the largest shipping companies in Singapore.

How did Chang Yun Chung's early life experiences shape his career path?

Chang Yun Chung's early life was marked by several challenges, including fleeing to Singapore during the Japanese invasion of China in 1937, surviving the Japanese occupation of Malaya, and being caught by the Japanese for aiding the anti-Japanese resistance. These experiences instilled in him a resilience that later shaped his successful career in the shipping industry.

What were some key milestones in the development of Pacific International Lines under Chang Yun Chung's leadership?

Under Chang Yun Chung's leadership, Pacific International Lines started with two used ships and expanded significantly, venturing into China as one of the first foreign shipping companies and eventually becoming one of Singapore's largest shipping companies.

How did Chang Yun Chung's wealth and status evolve over his lifetime?

Chang Yun Chung became a billionaire in 2014 with a net worth of $2.7 billion in 2015, became the world's oldest living billionaire in 2017, and, despite his net worth falling below $1 billion in 2020, he remained a significant figure in the shipping industry until his passing.

When did Chang Yun Chung pass away, and what was his legacy?

Chang Yun Chung passed away in his sleep in his Singapore home on September 4, 2020, at the age of 102. His legacy includes founding one of Singapore's largest shipping companies and exemplifying resilience and entrepreneurship.