Cheong Fatt Tze (born Chang Chin Hsun; c. 1840–1916), also known as Tjong Tjen Hsoen, Thio Tiauw Siat or Zhang Bishi was a Chinese industrialist, politician and philanthropist. Spending the majority of his life residing in Malaya and the Dutch East Indies, he was a powerful Nanyang business magnate and a first-class Mandarin of China; he was made Consul-General in Singapore and economic advisor. He was once regarded as the richest man in Malaya, with a reputed net worth of 80 million taels worth of silver (equivalent to approximately $2.4 billion today), which brought him the moniker "the Rockefeller of China". He died in Batavia from pneumonia.

Early life

He was born in 1840 in Dabu, Guangdong, China to a poor Hakka family. Cheong started working at an early age as a cowherd back in his village. At age 16, Cheong had left Guangdong while the Cantonese Red Turban rebellion and political purges ravaged much of Guangdong, and in that same year another war had broken out between the Hakkas and the Cantonese locals. The people had experienced starvation hardship and suffering as they fled during the war. As a result, Cheong Fatt Tze migrated to South-East Asia together with other coastal Chinese families to seek their fortune.

Career

He started as a water-carrier and then became a shopkeeper in Batavia, Dutch East Indies (today Jakarta, Indonesia).

After his marriage, he established a trading company with the help of his father-in-law. Gradually, he began to accumulate his wealth through hard work and perseverance. In 1877, he expanded his business from Jakarta to Medan. His business was based on agricultural products such as rubber, coffee and tea but he branched out to the financial sector by acquiring a bank. This move made him a wealthy man. He left another mansion in his birthplace, Dabu, Guangdong Province, China.

References

  • Mansion, Cheong Fatt Tze