Peter Lim, a Singaporean who came from nothing to becoming a billionaire, recently made headlines after reports that he was putting the famous Spanish football club Valencia CF on sale.
Last week, multiple reports suggested that Lim has set a price tag of €400 million (US$419.6 million) for anyone who wants to own Valencia, a club with a rich history in Spain.
However, the 71-year-old billionaire confirmed on Monday through Meriton Holdings, a company that holds his stake in Valencia, that the claims are false and the club are not for sale.
He purchased Valencia in 2014 and became the first foreign owner of the club. But after a decade under his ownership, the club were on a steady decline with little success, following financial struggles and debts stacking up when he refused to invest further into it.
Modest start
Lim, a self-made Singaporean billionaire, rose from humble beginnings to become a major investor in industries ranging from finance to sports. His journey from a stock market ace to a football club owner reflects his bold approach to business and investment. As of 2025, his net worth is $1.6 billion, according to Forbes.
Lim grew up in a two-bedroom government flat in the Bukit Ho Swee public housing estate with six siblings. His father was a fishmonger and his mother a housewife.
He attended the prestigious Raffles Institution for his secondary education before pursuing accounting and finance at the University of Western Australia. To support his studies, Lim worked various part-time jobs, including as a taxi driver, cook and waiter, according to Valencia International.
After that, with a degree and strong work ethic, Lim returned to Singapore, where he began his career as a stockbroker.
The rise of Singapore’s ‘Remisier King’
In the 1980s and 1990s, Lim earned a reputation as one of Singapore’s top stockbrokers, specializing in serving high-net-worth clients. His success in the industry earned him the nickname “Remisier King”, a reference to his ability to manage stock transactions efficiently and profitably, according to Tatler Asia.
However, it was a single strategic investment that propelled Lim to billionaire status. In the early 2000s, he invested $10 million in Wilmar International, a palm oil company. His stake in the company skyrocketed in value, generating over $1.5 billion in profits when he cashed out. This deal cemented his status as one of Singapore’s wealthiest individuals.
Following this success, Lim diversified his investments into healthcare, property, sports and education to expand his wealth. He bought Thomson Medical Group, a Singapore-based specialist maternity and pediatric hospital, for about $396 million in 2011 and expanded into Malaysia the same year when he acquired a stake in Kuala Lumpur-based TMC Life Sciences, Forbes reported.
In 2023, Thomson Medical Group acquired hospital operator Far East Medical Vietnam for $353 million.
Aside from owning Valencia, in 2014, Lim also invested in Salford City FC, a club that are currently competing in League Two, the fourth level of the English football system. This made Lim the co-owner of the club, alongside Manchester United’s famous “Class of ‘92” players Nicky Butt, Ryan Giggs, Gary Neville and Paul Scholes, who each own 10% of the club. In 2019, David Beckham purchased 10% share from Lim. In 2024, Lim sold the rest of his shares to the former players, BBC reported.
Philanthropy and personal life
Lim is also recognized for his philanthropic efforts. Since 2009, he has committed more than S$60 million ($44.6 million) to various causes, focusing on education and sports. He established the Singapore Olympic Foundation – Peter Lim Scholarship in 2010 to support young athletes.
According to Goodreturns, Lim is a big supporter of Man United. He is also a licensed pilot and owns a private jet, along with collections of luxury watches and cars.
While his business ventures are often on the news, Lim maintains a relatively private personal life. He married former model Cherry Lim in 2003 and has two children, including daughter Kim, who is a socialite and entrepreneur and son Kiat, who currently serves as executive vice chairman of Thompson Medical Group and recently was appointed the president of Valencia.
