It seems like the wealthiest people in Singapore are getting richer. Despite the headwinds posed by the dispute between Prime Minister Lee Hsien Loong and his two siblings as well as the strained relations of Singapore with China, the total net worth of Singapore's 50 richest people by has ballooned by up to 11 percent to $104.6 billion.
According to Forbes, nearly two in three of these tycoons on its list saw their fortunes spike up, with the minimum net worth to crack the rankings rising up to $540 million from $455 million last year.
Holding the throne as the richest in Singapore are Robert and Philip Ng, with a net worth of $9.4 billion. The Ng brothers are at the helm of Far East Organization, the city-state largest private landlord and property developer.
Trailing behind the brothers is Eduardo Saverin with his $9.3b. He is popularly known for co-founding Facebook in 2004 with his Harvard classmate Mark Zuckerberg. He is currently a venture capitalist, launching a $144m venture fund focused on India and the Southeast Asian region. Thirty-five-year-old Saverin is also the youngest on the list.
Third on the list is Goh Cheng Liang, with $7.8 billion net worth. Goh anchors his net worth from his 39 percent stake in Japan's Nippon Paint Holdings, which is the seventh largest paint manufacturer globally.
Running fourth is Kwek Leng Beng and his net worth of $7.1 billion. Kwek is the chairperson of Hong Leong Group and he serves as the executive chairman of City Developments, Singapore's second-largest property developer.
Completing the top five is the Khoo Family, with a net worth of $6.3 billion. They are the heirs of banker Khoo Teck Puat, an investor in Standard Chartered Bank in 1986. The Khoo Family sold their stake in the bank for $4 billion in 2006. They also head the Goodwood Group of Hotels.
The oldest one in the list hails from the shipping industry. Ranked 15th, Chang Yun Chung has a net worth of $2 billion. He co-founded Pacific International Lines in 1967 as a coastal operator with two second-hand ships.
Meanwhile, the sole woman on the list is Chew Gek Kim, ranking 23rd. She has a net worth of $1.4 billion. She serves as chairperson of Straits Trading, which has interests including real estate, tin smelting, and hospitality.
Check out the rest of those topped the list in this link.
