Wee Cho Yaw Cause of Death, Age, Family, Net Worth

Wee Cho Yaw Cause of Death, Age, Family, Net Worth – Wee Cho Yaw was a prominent Singaporean billionaire entrepreneur. He served as the chairman emeritus and honorary adviser of the United Overseas Bank (UOB) and held the position of chairman for the UOL Group.

Summary of Wee Cho Yaw's Biography

Full name: Wee Cho Yaw
Date of birth: 10 January 1929
Place of birth: Kinmen, Fujian, China
Date of death: 3 February 2024
Place of birth: Singapore
Nationality: Singaporean
Spouse: Chuang Yong Eng
Children: 5
Net Worth: $10.4 billion

Wee’s involvement with the United Overseas Bank (UOB) began in 1958 when he joined the board of directors of the United Chinese Bank, which later became UOB. Two years later, he assumed the role of managing director and eventually succeeded his father, Wee Kheng Chiang, as chairman in 1974.

Wee Cho Yaw Cause of Death

Due to his high-level activities around the world, his death has gotten some massive reactions from several top global personalities. At the time of this report, no actual cause of death had been named for his death, although there was an official confirmation of his death. Additionally, looking at his age at the time of his death, it is safe to assume that he died of natural causes. The post that announced his death reads;

His early education was interrupted by the Japanese invasion of Singapore and Malaya, during which he spent most of the Japanese Occupation with his family in Karimun, Indonesia. After the war, Wee returned to Singapore, attending Chung Cheng High School, where he became involved in anti-colonial politics before being withdrawn by his father due to British authorities’ investigation.

Wee’s career took off in 1949 when he started working at Kheng Leong, his family’s business dealing in commodities like rubber, pepper, and sago flour. His immersion in the business provided him w ith a wealth of contacts and knowledge. In 1958, Wee became the youngest director on the board of United Chinese Bank, eventually transforming it into United Overseas Bank.

Under Wee’s leadership, UOB expanded internationally, diversifying into various sectors such as finance, property, insurance, and banking. In 1970, the bank went public, and Wee was appointed vice-chairman a year later. He orchestrated strategic acquisitions, such as the Chung Khiaw Bank in 1971, and oversaw UOB’s growth in the 1980s, including the acquisition of Far Eastern Bank.

Wee faced challenges in the mid-2000s to maintain family control over UOB’s affiliated companies amidst restructuring mandated by the government. Despite bids and takeover attempts, he successfully retained control and received recognition for his achievements, including the Credit Suisse-Ernst & Young Lifetime Achievement Award in 2006.

In 2001, Wee led UOB’s acquisition of Overseas Union Bank (OUB), outmaneuvering government-linked DBS in a S$10 billion cash-and-shares deal.

Wee’s affiliations extended beyond business, with roles in various organizations, including the Singapore Chinese Chamber of Commerce and Industry (SCCCI) and the ASEAN Chambers of Commerce and Industry. He received numerous awards, such as the Bintang Masyarakat Bakti from the Singapore government in 1971 and being named Singapore’s Businessman of the Year in 1990 and 2001.

In philanthropy, Wee played a key role in modernizing Nanyang University and later served on the council of the National University of Singapore. He established the Wee Foundation in 2009, focusing on education, welfare, and cultural promotion.

Wee Cho Yaw Age

At the time of his death, he was 95 years old.

Wee Cho Yaw Family

His wife was known as Chuang Yong Eng, and they had five children – Wee Ee Cheong, Wee Wei Ling, Ee-chao Wee, Ee Lim Wee, and Wee Wei Chi. His grandchildren include Wee Teng Wen, Jonathan Eu, Alexandra Eu, Shin Hui Tan, Grace Wee Jingsi, and Wee Teng Chuen.