– Owner of Pacific International Lines, a company that made him most of his fortune, he goes to offer guidance to his son, Teo Siong Seng, the new company’s chairman
– Though the company has been having a hard time with the ongoing US-China trade war, the son hopes the company will come back strong
You would think those, who by every financial standard, have it all would slow down, retire and enjoy their wealth for the remaining part of their lives. If you think they would, then the story of the world’s oldest billionaire, Chang Yung Chung, will shock you.
With a net worth of $1.6 billion (N578,400,000,000) and age 101, he still goes to office at the right time just like any other normal person who does not have a pinch of his wealth would, Forbes reports.
It should be noted that Chung, who made most of his fortune from shipping handed over his Pacific International Lines to his son, Teo Siong Seng, in 2018.
Despite that, he still goes to his office every day as he guides the company as its board chairman emeritus.
Well, this may not, however, be unconnected with the $208 million (N75,192,000,000) marginal loss the company suffered in 2018 as the company ramped up production costs, even as the US-China trade war is making things a bit difficult for the company.
On the other hand, his son is quite hopeful that the company will bounce back from its challenges. It should be noted that the shipping company was founded in 1967 and Chang steered its affairs for 51 years.