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At age 45, he became the youngest billionaire in Singapore.[citation needed] He was also the first person to be named Singapore's Businessman of the Year twice, in 1992[2] and 1997.[citation needed] In 2002, he was named Person of the Year[3] by the Singapore Computer Society in recognition of his contribution to the IT industry. Sim is considered to be the star entrepreneur of Singapore, and he currently chairs Singapore's Technopreneurship 21 Private Sector Committee.[citation needed]