Tang and his wife built most of their fortune after moving to Singapore in the 1990s from their native China. They’ve made influential friends along the way, notably Neil Bush, brother of former U.S. president George W. Bush. Bush chairs SingHaiyi, and is a director of the Tangs’ investment firm American Pacific International Capital, which owns and manages hotels, residential properties and malls in China and the U.S. The Tangs in recent years also acquired sizable stakes in several REITs, now hit by the pandemic. SingHaiyi, meanwhile, is still moving forward with its own projects, including three residential projects in Singapore, among them a $1.6 billion condo set to open in 2023, and a residential property in San Francisco scheduled for completion in 2024.

Source: Forbes August 20, 2020 12:00 UTC