Top 10 richest in Singapore

Looking at some of the top 10 richest in Singapore

It was once the case that Singapore’s top rich were mainly involved in the finance and real estate industries. However, with the rise of ultra-high net worth individuals (UHNWIs) in a variety of industries such as the medical field, media and entertainment, food and beverage, and electronics industry, these individuals have been gradually replacing them over the years.

The fact that change is the only constant in life does not mean that it will be easy for these individuals to be shifted out of their respective positions. Rather, it will require a mammoth effort to oust these people.

Top 10 richest in Singapore .

10. Kuok Khoon Hong Net Worth: $3.1 billion

A 73-year-old entrepreneur, Kuok Khoon Hong, co-founded Wilmar International with Indonesian billionaire Martua Sitorus in 1991, where he serves as the Chairman and Chief Executive Officer. This company is a leading agribusiness group in Asia that processes agricultural commodities such as palm oil. The company is listed on the Singapore Exchange.

Kuok, who is married with four children, was born in the village of Mersing in Johor, Malaysia, and holds a Business Administration degree from the then University of Singapore, where he completed his undergraduate studies. Aside from Yanlord Land, Perennial Real Estate Holdings, and the Aviva Tower in London, he also owns other property-related companies.

9.Kwek Leng Beng Net Worth: $3.3 billion

In spite of the fact that Kwek Leng Beng is a new entrant into the top ten billionaires’ list this year, his business, Hong Leong Finance (HLF), was founded by his father in 1961, and he himself is not a stranger to Singapore. At the age of 82, he remains the Executive Chairman of the Singapore Exchange-listed finance group, which provides tailored financial products and services to local businesses.

Having graduated from the Law School of the University of London in 1984 and with a background in law, Mr. Kwek is the Executive Chairman of City Development, Singapore’s second largest property developer, and Millennium & Copthorne Hotels Limited, a global hospitality management and real estate company.

8. Forest Li Net Worth: $4.6 billion

The youngest on the list at age 45, Forrest Li runs technology conglomerate Sea Limited, which owns well-known e-commerce platform Shopee and gaming firm Garena. As an IPO candidate for Sea Limited, Mr. Li once lived in a single bedroom in a 3-room HDB flat at Braddell, making his way to the billionaire list in October 2017 when Sea went public on the New York Stock Exchange (NYSE).

With a net worth that rose to $12.1 billion in 2021, Mr. Li’s fortunes plummeted as the company struggled to gain profitability in the face of rising inflation and recessionary fears. As well as holding an MBA from Stanford University’s Graduate School of Business, Mr. Li is an avid football fan and serves as the chairman of the Lion City Sailors, a local Singapore Premier League football team.

7.Jason Chang Net worth:$4.7

Taking part in his second appearance in the series, Jason Chang is the co-founder and chairman of Taiwan’s dual-listed Advanced Semiconductor Engineering, ASE Group, a company that provides independent semiconductor assembly and testing services. The company has been listed on the Taiwan Stock Exchange since 1984.

In addition to Richard Chang, who is also one of the most important shareholders of the company, Mr. Chang represents one of the largest groups of people who are active in the Greater China real estate market, specifically in Shanghai, Beijing, and Chongqing.

6. Dr. Wee Cho Yaw’s net worth is $7.1 billion.

At age 94, Dr. Wee Cho Yaw is not only one of the oldest billionaires on the list but also a regular feature on it. Known for his affiliation with United Overseas Bank (UOB), Singapore’s third-largest bank by assets, Dr. Wee retired from the board in 2018 after serving for more than 60 years as a director of the bank. In addition to serving as Chairman Emeritus, his father cofounded the bank in 1935, initially referred to as the United Chinese Bank.

Additionally, Dr. Wee owns controlling stakes in a number of property companies, such as UOL and Singapore Land, that have a diverse portfolio of real estate properties, ranging from commercial spaces to residential, retail, and hotel properties, with a focus in Singapore.

5. Robert Ng’s net worth: $7.4 billion

At the age of 71, Robert is the eldest son and elder brother of Ng Teng Fong. He is the older brother of the two brothers who control Far East Organisation, the largest private landlord and property developer in Singapore. With his son, Daryl, he is also in charge of the group’s Hong Kong operations, including Sino Land, Tsim Sha Tsui Properties, and Sino Hotel Holdings.

With six children, Mr. Ng is married and has a law degree from Middle Temple, London. He is a devout Christian and a married man with six children.

4. Zhang Yong net worth: $7.5 billion

As a result of a bad experience he had in a hotpot restaurant while growing up in China, Zhang Yong founded Haidilao, a well-known Sichuan hotpot chain that is listed on the Hong Kong stock exchange. Since 1994, when this chain started offering excellent customer service and discounts to its customers, it has grown to more than 1,000 locations across China, the U.S., Japan, South Korea, Singapore, and many other countries.

It was announced in March 2018 that Mr. Zhang Yong, who is 52 years old, will step down as Chief Executive of the Group in 2022, but he will remain Chairman to focus on long-term strategy planning.

3.Philip Ng Net Worth:$7.6 billion

Philip Ng, a younger brother of the two Ng brothers, controls Far East Organisation (FEO), which is a private real estate company. Since 1960, the group has been founded by their father, Ng Teng Fong, who was regarded as the “King of Orchard Road.” It has constructed over 780 developments across the residential, hospitality, retail, commercial, and industrial sectors in Singapore, including more than 55,000 private homes. The FIABCI World Prix d’Excellence Awards, the highest level of recognition in international real estate, have been awarded 13 times.

Besides being a staunch Christian like his brother, Mr. Ng also holds two master’s degrees from the Massachusetts Institute of Technology, USA, as well as a Bachelor of Science degree in Civil Engineering from King’s College, London University, UK. As a staunch Christian like his brother, he publicly declared FEO to be a Christian company.

2. Gog Cheng Liang Net Worth: $14.3 billion

Founder of Wuthelam Holdings, Goh Cheng Liang, at the age of 95, is one of the oldest on the list, and he has also witnessed the greatest increase in his net worth over the past 2022. In 1962, a former fishnet seller and rubber tapper formed a partnership with coatings specialist Nippon Paint Holdings, the world’s fourth-largest paint manufacturer by sales, as their main Singapore distributor.

In late 2020, with the help of an $8 billion stock-and-cash deal, Goh was able to increase his stake in the Tokyo-listed Nippon Paint company, chaired by his son, Hup Jin, to 58.7%, which comprises the majority of his wealth.

1. Li Xiting Net Worth: $16.3 billion

Li Xiting, the founder and chairman of Shenzhen Mindray Biomedical Electronics, a China-born company founded in 1991, holds the top spot for the third year in a row. Founded in 1991, the company is based in Shenzhen and supplies medical equipment such as ventilators, defibrillators, and anaesthetic machines.

There is a 72-year-old man from the University of Science and Technology of China, Li Xiting, who has a Bachelor’s degree in low temperature physics from the University of Science and Technology of China and became a naturalised Singaporean citizen in 2018.

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