Published on May 18, 2014
Billionaire Peter Lim is the new owner of Spanish side Valencia. Here are some facts about the media-shy Singaporean and the La Liga club.
Five things you should know about Peter Lim
1. In 1991, Mr Lim made his fortune when he invested US$10 million (S$12.51 million) in Wilmar International, then a start-up palm oil company owned by tycoon Kuok Khoon Hong, a former client and friend of Mr Lim’s – and the nephew of Malaysian businessman Robert Kuok (he now lives in Hong Kong), one of Asia’s best-known billionaires. Mr Lim’s five per cent stake in Wilmar was worth US$1.4 billion in March according to Forbes.
2. He put himself through the University of Western Australia, in Perth, by working as a taxi driver, cook and waiter, among other odd jobs, and graduated with a degree in finance and accounting.
3.Nicknamed the “remisier king", Mr Lim was ranked by Forbes to be the 10th richest man in Singapore last year with a fortune of US$2.05 billion.
4. Married to former actress Cherie Lim, Mr Lim is a Manchester United fan, owning several Manchester United themed bars across Asia. He tried to buy Liverpool for £300 million (S$631.20 billion) in 2010 but his offer was rejected.
5. Home to Valencia's new owner is the entire 11 storeys of the Abelia condominium, located near Orchard Road. Mr Lim is also said to own 25 Ferrari cars.
Five things you should know about Valencia football club
1. Up until Mr Lim acquired the club, Valencia was the only club outside the duo of Real Madrid and Barcelona to have won the Spanish La Liga since 2001. Former Liverpool manager Rafa Benitez led Valencia to the league title in 2002 and 2004. However, Atletico Madrid on Saturday claimed its first La Liga title in 18 years by drawing 1-1 with title rivals Barcelona.
2. Due to the financial crisis, work on Valencia's new stadium – the 61,500 Nou Mestalla – stopped in 2009. The stadium has remained untouched since.
3. To stay afloat, the club had to sell key players like David Villa, David Silva, Jordi Alba, Roberto Soldado and Juan Mata - All Spanish internationals.
4. Valencia have only spent four years outside of the top flight during their 92 history. Most recently they spent a year in the second division in the 1986-87 season.
5. They are the third most successful club in Spain, with six La Liga titles and seven Spanish Copa del Rey victories. No prizes guessing who the two most successful are.