Tycoon gives $1 inheritance to each of his children
Sin Chew Daily/ANN
Saturday, Feb 25, 2012
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 5$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 ordered to pay S$24 million to his ex-wife Nancy Tay last year.
"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!"