Jeremy Tan Wei Yang (Singapore Politician)
Jeremy Tan Wei Yang | |
|---|---|
 | |
| Born | 1991 |
| Alma mater | Nanyang Technological University (NTU) |
Jeremy Tan Wei Yang (born 1991) is a Singaporean entrepreneur-turned-politician who made history in the 2025 General Election by achieving the highest vote share for an independent candidate in 53 years.[1] Contesting Mountbatten Single Member Constituency (SMC), Tan garnered 36.16% of the vote, surpassing even opposition stalwart Chiam See Tong's early career result as an independent in 1976.[1]
A graduate of Nanyang Technological University (NTU), Tan achieved financial independence early through entrepreneurship, allowing him to list himself as "retired" on his nomination papers and campaign full-time without needing employment.[1] He is best known for his advocacy of Bitcoin integration into Singapore's economic framework and his bold proposals to reform the HDB and CPF systems.[1]
Early life & background
While studying at Nanyang Technological University, Tan launched his first business, becoming the local distributor for Paula's Choice, an American skincare brand.[1] He bootstrapped this business while managing his studies, commuting between NTU, his store in Novena, and his office via Bus 16 through Joo Chiat, an area that would later become significant in his political journey.[2]
Tan's business eventually attracted Unilever's attention. When Paula's Choice was acquired by the multinational corporation in 2021, Tan sold his distributorship stake, achieving financial independence at a young age.[1]
After his initial business success, Tan founded multiple ventures, including a social enterprise called Tissue SG ("Tissue For Good"). This venture sells eco-friendly tissue paper to support the needy and disabled in Singapore, demonstrating his early commitment to social causes.[1]
Bitcoin investment
More than a decade ago, Tan discovered Bitcoin and purchased 13 coins at approximately S$380 per bitcoin.[3] At the time of his 2025 campaign, he still held six bitcoins, worth approximately S$737,000.[3] This early investment would later become central to his political identity and policy proposals.
Reflecting on this decision, Tan has stated: "Not buying more is my greatest regret in life. I won't let that happen for Singaporeans."[4]
Career
Tan's entry into politics was spurred by personal hardship during the COVID-19 pandemic. In 2020, his mother was diagnosed with stage 3 cancer and several family members lost jobs amid the crisis.[1] These experiences drove him to seek ways to improve policies and systems that he believed were failing ordinary Singaporeans. Tan has also revealed that his family faced financial difficulties earlier in life:[5]
"I had to temporarily stay in rental housing for a period of time when my family had nowhere to stay and there were bankruptcies in my family. Life was not easy."
Decision to be a candidate
After selling his company in 2021, Tan spent several years as a "full-time observer of politics in Singapore," researching national issues and formulating policy proposals.[6] He concluded that meaningful change required direct political participation:[1]
"The only way I can change this is to run for politics…you can't just be an activist."
His motivation stemmed from concerns about generational decline:[1]
"What motivated me is that the next generation looks like they will be worse off than the current or previous generation."
Consideration of Workers' Party
In 2024, Tan informed Workers' Party (WP) chief Pritam Singh about his intention to contest Mountbatten SMC as an independent candidate.[7] He even attended a WP volunteer session to see if it would change his mind about joining a party.[7]
However, Tan ultimately decided to remain independent, believing that "we need radical change" that traditional parties would not pursue.[6]
2025 General Election campaign
The "Bitcoin Candidate"
Tan became known as Singapore's first "bitcoin candidate" due to his distinctive orange "B" logo, fashioned like the dollar sign in homage to Bitcoin's longstanding symbol.[6] His campaign moniker "encik bitcoin" emphasized this identity, though Tan maintained he was advocating for Bitcoin specifically, not cryptocurrencies generally.[8]
When questioned about whether he was a serious candidate given his seemingly sudden emergence, Tan responded by pointing to years of preparation. He had created his policy-heavy website over several years before announcing his candidacy, making it the centerpiece of his campaign rather than focusing solely on personality.[5]
Why Mountbatten SMC
Tan chose to contest Mountbatten SMC for several strategic reasons. He lived just 500 meters outside the constituency boundary in Marine Parade-Braddell Heights GRC, making him intimately familiar with the area.[6] He was a regular presence at Tanjong Rhu and East Coast Park, and had personally delivered products to Mountbatten residents via e-scooter during his business days.[2] Tan also viewed Mountbatten residents as "the most risk-free" from policy failures, noting:[6]
"These guys are educated people, 70-plus per cent in private property."
With approximately 73% of residents living in private property and social mobility being second highest in Singapore, Tan believed these constituents could afford to take a chance on an independent candidate.[9] He quipped: "I live 600 metres outside of (it)…to be a good MP, I believe I must be close to my residents."[1]
Campaign infrastructure
Tan's call for help yielded more than 30 volunteers during the campaign.[10] He spent approximately S$17,000 on his campaign, including S$10,000 on the stage and setup for his rally.[11]
His campaign was notably digital-first, with his comprehensive policy website serving as the foundation. He maintained active communication channels via Telegram and Instagram, responding directly to online feedback and engaging with commenters.[7] His Instagram account ultimately garnered over 27k followers.[12]
Historic rally
On May 1, 2025, Tan held the first independent candidate rally of GE2025 and the first in the last 10 years for someone not running on a party ticket.[13] At the Home of Athletics track, he delivered a 46-minute speech outlining his radical proposals on Bitcoin, CPF reform, and HDB policy.[14][13] Approximately 700 people watched his live-streamed address at its peak.[5]
Campaign slogan and promises
Tan's campaign slogan was "Be retired, not tired," advocating for measures to help Singaporeans retire more comfortably.[3]
He pledged to be a full-time MP if elected, given that he no longer needed to work. He further promised to donate his entire MP allowance, approximately S$16,000 per month or S$200,000 per year, to community needs, accepting only S$1 in symbolic pay[10] He projected that if donors matched his contributions dollar-for-dollar, as much as S$2 million could be channeled into the community over five years.[10]
CPF system revitalization
Tan argued that the CPF system is no longer sufficient for retirement and lacks inflation protection.[4]
Key criticisms included:
- CPF Ordinary Account has a targeted floor rate of 2.5%, but purchasing power reduces by 50% every 17 years.[4]
- CPF withdrawal ages keep increasing while basic needs become less affordable.
- 44% of Singaporeans believe they can never achieve financial freedom.
Bitcoin integration
Tan's signature proposal was integrating Bitcoin into Singapore's economic framework as an inflation hedge. He argued that Bitcoin is "superior perfect money that will free Singaporeans" and provides "erosion-proof money."[4][9]
His Bitcoin proposals included:[4][9]
- Allowing CPF funds to be invested in Bitcoin ETFs, similar to how gold ETFs are currently permitted
- Additional 0.5% interest on CPF money invested in Bitcoin products, paid by the government
- "Bitcoin baby products" and Bitcoin for newly ORD (Operationally Ready Date) NSmen
Tan emphasized that Bitcoin's approval as an ETF in late 2023 fundamentally repositioned it for institutional investors:[9]
"We already believe in inflation and in the importance of protecting ourselves from it. That's why we allow people to invest their CPF in the SPDR Gold (Shares) ETF. If we accept gold as an inflation hedge, then why stop there?"
Other policy proposals
- Political Reform: More SMCs to ensure the popular vote reflects better mandates[4]
- AI and Robotics: Revamping education and employment policies for automation[4]
- Population Planning: Reducing population gain in anticipation of mass automation[4]
- Fluoride Monitoring: Ensuring total fluoride sources remain within WHO limits[6]
Campaign controversies
Tan's most controversial proposal was to end the policy of using HDB as a retirement asset. He argued that this policy creates a "generational ponzi" that passes costs to the next generation via resale prices and CPF utilization.[4]
On his policy website, Tan provided detailed analysis:[4][14]
- Land Cost Opacity: 30-40% of any HDB flat's price consists of a 'land cost' that is not transparently broken down to the public. This cost goes back to reserves, effectively taking CPF funds from future retirement.
- Inflated Prices: Taking inflation into account, the same 4-room BTO should be priced at S$290,000 in 2025, but the average is S$480,000.
- Declining Value: By 2040, more than half of Singapore's HDB flats will face problems in the resale market due to loan restrictions after the 50-year mark, rendering many Singaporeans dependent on the Lease Buyback Scheme.
- Rental Housing: Proposed making 5-10% of HDB units available for low-cost long-term rental to help low-income Singaporeans plan adequately.
- Extended MOP: Suggested extending new BTOs to have a 15-year Minimum Occupation Period to pace out pricing effects on the resale market.
Photo from Mothership.
PAP's "Gambling" critique
At her rally on April 30, 2025, PAP candidate Gho Sze Kee strongly rejected Tan's Bitcoin proposals, declaring: "The PAP does not believe in gambling."[3] She characterized Bitcoin investment as gambling and criticized his suggestions for government Bitcoin programs.
Gho argued that Tan's proposals amounted to "just ask the government for more money" and would be "irresponsible, perhaps downright naive."[3]
Tan's response to her comments was characteristically brief: "Ok haha."[3]
Preventing a walkover
Tan addressed criticism that he should have joined a political party rather than running as an independent. He argued that his candidacy prevented a walkover in Mountbatten, ensuring democratic contestation:[7]
"I think in the spirit of democracy, because Singapore is so small, every constituency should be contested no matter how big or how small."
He noted that he "actually got chastised for quite a bit for not joining a party and not being considered as a serious independent and candidate."[7]
Election results
On May 3, 2025, Tan achieved 36.16% of the vote in Mountbatten SMC with 7,083 votes out of 19,590 cast.[16] PAP's Gho Sze Kee won with 12,034 votes (63.84%), with 473 rejected votes.[15]
Tan's 36.16% represents the highest vote share for an independent candidate since 1972, when Ng Teng Kian won 41.87% of votes in Punggol SMC, still the closest an independent ever came to winning a seat.[15]
Tan surpassed opposition stalwart Chiam See Tong, who won 31.83% of votes when he contested as an independent in Cairnhill SMC in 1976.[15]
Pre-election predictions
When asked about his chances before the election, Tan had matter-of-factly predicted "30 to 35 per cent," demonstrating remarkably accurate self-assessment.[6]
Post-election response
On May 4, 2025, the day after the election, Tan posted a humorous LinkedIn update declaring himself "open to work" with the caption: "lol failed job interview (yesterday)."[16] He added in comments: "Maybe I need to beg for (an) unpaid intern role aka NCMP," referencing the Non-Constituency Member of Parliament scheme.[16]
In an Instagram video shot with Parliament House in his background, he quipped: "Times are hard. I just lost the job interview. The employment building is behind."[16]
His post received over 3,500 reactions and numerous comments lauding his sense of humor and performance. He changed his LinkedIn bio to read: "Independent candidate with [the] best performance in GE2025 for 53 years."[16] In subsequent posts, Tan thanked Mountbatten residents for their support and congratulated Gho Sze Kee and outgoing MP Lim Biow Chuan.[16] Despite not winning, Tan pledged to continue using his newly-found platform to speak up on issues.[11] He plans to prioritize raising funds for and calling attention to the plight of low-income households in Mountbatten and Marine Parade.[11]
True to his promise made during the campaign, Tan said:[6]
"Even if I lose, I will be contactable and open to speaking with people: 'If bitcoin is still around in 2030, you will see me around.'"
Future electoral plans
On May 6, 2025, Tan announced that he would contest again, either in Mountbatten or Marine Parade, in the next general election.[16] He is in talks with some opposition parties that are regrouping to determine their future.[11]
The next general election in Singapore is slated to be held by 2030.[16]
References/Citations
- ↑ 1.00 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 “Jeremy Tan: Independent Candidate in Singapore GE2025” UBE Singapore, 7 May, 2025. Accessed 25 February 2026.
- ↑ 2.0 2.1 “Why I’m Running” Jeremy Tan. n.d. Accessed 25 February 2026.
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 Lay, Belmont. “Mountbatten SMC PAP candidate Gho Sze Kee says bitcoin is 'gambling', opponent Jeremy Tan replies, 'Ok haha'” Mothership, 30 April, 2025. Accessed 25 February 2026.
- ↑ 4.0 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 4.9 “About” Jeremy Tan. n.d. Accessed 25 February 2026.
- ↑ 5.0 5.1 5.2 Lay Belmont. “Mountbatten SMC independent candidate Jeremy Tan says he's not a 'cookie-cutter' politician, answers queries on livestream” Mothership, 22 April, 2025. Accessed 25 February 2026.
- ↑ 6.0 6.1 6.2 6.3 6.4 6.5 6.6 6.7 Lay, Belmont. “GE2025: Jeremy Tan, 34, S'pore's 1st 'bitcoin candidate', running in Mountbatten SMC. Oh, he's also a retiree.” Mothership, 18 April, 2025. Accessed 25 February 2026.
- ↑ 7.0 7.1 7.2 7.3 7.4 Lay Belmont. “Independent candidate Jeremy Tan says he prevented walkover at Mountbatten SMC” Mothership, 25 April, 2025. Accessed 25 February 2026.
- ↑ Yustika. “GE2025Four independents declare intention to contest in GE2025–but will they qualify?” The Online Citizen, 22 April, 2025. Accessed 25 February 2026.
- ↑ 9.0 9.1 9.2 9.3 Leong, Jesper. “Putting Crypto to the Vote: Jeremy Tan Champions Bitcoin Policies” Coin Pasar, 26 April, 2025. Accessed 25 February 2026.
- ↑ 10.0 10.1 10.2 Lay, Belmont. “Independent candidate Jeremy Tan says he'll use S$16,000 monthly MP allowance for Mountbatten needs” Mothership, 1 May, 2025. Accessed 25 February 2026.
- ↑ 11.0 11.1 11.2 11.3 Vanessa Paige Chelvan & Loi, Esther. “GE2025: Independents Jeremy Tan, Darryl Lo plan to use new-found platforms to speak up on issues” Yahoo News, 6 May, 2025. Accessed 25 February 2026.
- ↑ “@jeremytan.sg” Instagram. n.d. Accessed 25 February 2026.
- ↑ 13.0 13.1 Lay, Belmont. “Jeremy Tan does 1st independent candidate rally in Mountbatten SMC, rebuts opponent in 46-min speech” Mothership, 1 May, 2025. Accessed 25 February 2026.
- ↑ “Policies” Jeremy Tan. n.d. Accessed 25 February 2026.
- ↑ 15.0 15.1 15.2 Koay, Tristan & Lay, Belmont. “Jeremy Tan's 36.16% vote share the highest for an independent candidate in last 53 years” Mothership, 4 May, 2025. Accessed 25 February 2026.
- ↑ 16.0 16.1 16.2 16.3 16.4 16.5 16.6 Lay, Belmont. “Jeremy Tan will contest again in Mountbatten or Marine Parade, says he's in talks with political parties” Mothership, 5 May, 2025. Accessed 25 February 2026.