Richard Chandler (businessman)

Richard Chandler
Born	1950s Matangi, New Zealand
Occupation(s)	Entrepreneur, investor
Years active	1982–present
Known for	Founder and chairman of Clermont Group
Spouse	Kady Leyau

Richard Fred Chandler (born ) is a billionaire entrepreneur originally from New Zealand. He embarked on his investment journey in 1982, and in 2006, he established the Clermont Group, a global conglomerate based in Singapore. Chandler has gained recognition for acquiring underperforming businesses and revitalizing them effectively, as reported by the Australian Broadcasting Corporation News. He holds the position of chairman at the Clermont Group.

Early life

Richard Fred Chandler was born in Matangi, New Zealand, one of three sons born to Marija Chandler (née Ana Tzarev), a businesswoman, and Robert Chandler, who worked as a beekeeper. In 1972, his parents co-established the upscale department store Chandler House located in Hamilton. Raised in the Waikato region, Richard attended Auckland Grammar School alongside his brother Christopher.

Chandler completed a Bachelor of Commerce degree at the University of Auckland in 1979 and followed this by submitting a master's thesis in 1982 that examined corporate board structures and accountability within New Zealand. Additionally, he earned a law degree from the same university in 1982.

Early years (1980s–2006)

Chandler started his professional path at Arthur Andersen in Auckland before moving to London in 1982 to work for KPMG. Later that year, he returned to New Zealand to assume the role of CEO at the family-owned Chandler House. After selling the business, he relocated to Monaco. In 1986, Richard and his brother Christopher launched Sovereign Asset Management with an initial capital of US$10 million, concentrating first on real estate investments in Hong Kong.

The firm was later renamed Sovereign Global as they broadened their portfolio throughout the 1990s into regions including Latin America, Asia, Africa, and Eastern Europe. Their investments spanned multiple industries such as telecommunications, utilities, steel production, oil and gas, banking, and refining. A significant transaction occurred in 2003 when Sovereign acquired a 15% shareholding in South Korea’s SK Corp. for $168 million. After engaging in a public conflict with SK Corp.’s board regarding governance concerns and following chairman Chey Tae-won’s conviction for accounting fraud, they divested their stake in 2005, earning a profit of US$728 million.

By the end of 2006, the Chandler brothers had become New Zealand’s wealthiest entrepreneurs. Richard’s approach to investing focused on deep value opportunities within emerging markets and distressed companies, combining financial performance with an emphasis on ethical corporate practices.

Orient Global and Chandler Corp (2006–2015)

In December 2006, the Chandler siblings separated their business interests; Richard founded Orient Global, whereas Christopher initiated Legatum Capital. Initially operating out of Singapore, Dubai, and London, Orient Global underwent a rebranding to become Richard Chandler Corporation in April 2010. The company introduced Newtown International, an educational service based in Bangladesh, in 2011. By this period, Chandler’s investment approach was characterized by contrarian tactics emphasizing corporate governance and socio-economic influence.

In 2012, Chandler evaluated but ultimately decided against investing in the Tasmanian timber company Gunns. The firm was renamed Chandler Corporation in 2013. That same year, it purchased an 80% ownership interest in Hoan My Medical Corporation—the leading private hospital group in Vietnam—for US$99 million, gaining full ownership by 2015. Additionally, the corporation managed healthcare businesses throughout Indonesia and the Philippines.

According to the Forbes Rich List of 2014, Chandler was among only two billionaires holding New Zealand citizenship, with an estimated net worth of US$3.8 billion. By 2015, he possessed a 19% equity share in InterOil Corporation.

Clermont Group (2016–present)

In 2016, Chandler Corporation was renamed as the Clermont Group. The following year, Chandler completed the acquisition of magniX, a startup focused on developing electric propulsion systems for aircraft. His investments in advanced electric motor technologies were partly facilitated through his uncle Tony Guina, founder of Guina Energy (which later became magniX). Currently, magniX functions as a subsidiary under the Clermont Group umbrella. By 2018, Clermont Group’s fund Corinthia had invested in OakNorth Bank, headquartered in London.

In 2019, Chandler launched Clermont Aerospace and secured a 70% ownership stake in Eviation, an Israeli startup specializing in electric aircraft, for $76 million. magniX won a $74 million NASA contract spanning five years in 2021 to further develop electrified aircraft propulsion technologies. As of 2023, Chandler was ranked as Singapore’s 14th wealthiest individual with an estimated fortune of $2.9 billion.

Philanthropy

In 1999, Chandler co-established Geneva Global, described as a "philanthropic investment bank." In 2007, he initiated a $100 million education program aimed at creating affordable private schooling initiatives across India. By 2017, he became a principal partner at Co-Impact alongside philanthropists such as Bill and Melinda Gates, Jeffrey Skoll, Kathy Wadhwani, and the Rockefeller Foundation. Furthermore, Chandler founded both the Chandler Foundation and the Chandler Institute of Government.

Personal life

He is married to Kady Leyau, who is a businesswoman as well as a former model, actress, and MTV VJ from Taiwan.

External links

• Chandler's Biography at Clermont.com