Forrest Li has joined the Singapore National Olympic Council Executive Committee ©SNOC/OCA

Billionaire businessman Forrest Li has been co-opted onto the Singapore National Olympic Council (SNOC) Executive Committee.

Li, the founder, chairman and chief executive of global consumer internet company Sea Limited, is on the Forbes rich list with an estimated net worth of $13.7 billion (£9.65 billion/€11.23 billion).

Sea Limited owns Singapore Premier League football club Lion City Sailors where Li holds the position of chairman.

The SNOC has now confirmed Li as a member of its Executive Committee, claiming he will bring "a valuable perspective to Singapore sport".

"I believe that sports are a powerful force for good that bring communities together and enhance lives, and I am grateful for this opportunity to contribute to the development of the Olympic Movement in Singapore," said Li.

"I am honoured to join the SNOC Executive Committee and look forward to working with my fellow committee members to continue their good work in support of our nation’s athletes and our entire community."

As well as running Sea Limited, Li is a member of the Singapore Economic Development Board and serves as an independent non-executive director of Shangri-La Asia Limited.

He also serves on the Board of Trustees for the National University of Singapore and on the Advisory Council of Stanford University’s Graduate School of Business.

IOC vice-president Ng Ser Miang has welcomed the appointment of Forrest Li ©Getty Images
IOC vice-president Ng Ser Miang has welcomed the appointment of Forrest Li ©Getty Images

"It is my pleasure to welcome Forrest onboard to the SNOC Executive Committee," said SNOC President Tan Chuan-Jin.

"His expertise, passion for sports and willingness to support Singapore athletes will certainly bring a valuable perspective to Singapore sport.

"We look forward to working with him to continue the efforts to put Singapore sport on the forefront."

Ng Ser Miang, vice-president of the International Olympic Committee (IOC), member of the Olympic Council of Asia Executive Board and SNOC Executive Committee member, also welcomed Li’s arrival.

"I believe that Forrest, with his experience in entrepreneurship and expertise in the technology industry, will complement and add to the myriad of skills and experience of the SNOC Executive Committee members," added Ng.

"His love of sports and penchant for giving back to the community are traits which I believe will make him a positive contributor to the Olympic Movement."