My Exchange Banner

create your own banner at mybannermaker.com!
Copy this code to your website to display this banner!

Outright online bookkeeping for just $9.99 / mo!

Saturday, February 25, 2012

Tycoon gives 1 dollar inheritance to each of his children

Sulaiman Kamal | 8:15 PM | | | Best Blogger Tips

Do You Like This Story?

Shipping tycoon Yeo Chong Lin is giving only S$1 (RM2.40) inheritence to each of his four children.

The 77-year-old Singaporean did not leave a single cent to his girlfriend of six years.

Instead, Yeo left his entire S$45 million fortune to his seven siblings.

He told Lianhe Wanbao that he had severed ties with his children.

Yeo, the main shareholders of Yeo Holdings, lost a divorce suit in which he was order to pay S$24 million to his ex-wife Nancy Tay last year.

The money was under the care of his eldest son, aged 56.

Earlier, the tycoon had given S$25 million worth of cash and company shares to his youngest son, 45, and S$15 million to his two daughters - aged 48 and 54.

Yeo said the four children and eight grandchildren had never visited or telephoned him since then.

"Whatever it is, I'm still their father. But they began to ignore me after taking the money. They didn't even call to say hello," said Yeo.

Yeo, who started his career as a shipping clerk at 17, is a self-made millionaire.

"My family was very poor. My father did not even leave a bicycle for me when he died.

"For the past 60 years, I work so hard everyday, sacrificing myself so that my family get to live a comfortable life.

"I sent my children to study abroad. Not only that they need not work to earn the tuition fees, they could drive new cars around.

"They never appreciate what I've done for them. I don't owe them anything!"

Yeo, who is currently living with his girlfriend, said he would not marry again.

Info : News



Post a Comment

Recent Comments

Blogger Gadgets