This year, there are a total of 32 Singaporeans on the list. We take a closer look at the TOP 14 and what it took for them to be included on this coveted list.
NUMBER 75 Zhang Yong – Net Worth: US$23B
Zhang Yong, China’s richest restaurateur and now a naturalised Singaporean, founded the famous hot pot company Haidilao. Zhang has 768 Haidilao stores in China, Japan, Singapore, South Korea, and the United States, and the restaurant first opened its doors in China in 2018.
When Haidilao first opened, it rapidly became popular due to the high-quality dishes they supplied as well as their attentive customer care. Indeed, the restaurant provides manicures, hair ties, food, and other services to its patrons.
Zhang never completed high school and had no idea how to make a traditional Sichuan hotpot when he initially started.
Three friends, one of whom eventually became his wife, aided the billionaire financially by providing him with the seed money.
NUMBER 80 Goh Cheng Liang – Net Worth: US$21.7B
Nippon Paint Singapore was founded in 1955 by Goh Cheng Liang, who is now 93 years old.
Despite the fact that the company began modest, Goh swiftly built it to become Singapore’s first paint manufacturing plant. Nippon Paint Holdings is now the fourth-largest paint manufacturer in the world.
Hup Jin Goh, the chairman of Nippon Paint, chose to sell their privately held companies for US$12 billion this year in exchange for more Nippon shares.
NUMBER 140 Eduardo Saverin – Net Worth: US$14.6B
Eduardo Saverin, who now lives in Singapore, co-founded Facebook with Mark Zuckerberg in 2004. Saverin has a minor share in Facebook, which provides him with the majority of his money, despite the fact that the two split ways in 2012.
In 2016, Saverin and Raj Ganguly co-founded B Capital, a venture capital firm. This fund has subsequently raised SGD$766 million and invests aggressively in technology companies all around the world.
NUMBER 158 Robert & Phillip Ng – Net Worth: US$13.3B
Far East Organisation, Singapore’s largest private landlord and property developer, is run by brothers Robert and Phillip Ng. Ng Teng Fong, their father, created the company. At the moment, the two split their time between their Hong Kong and Singapore offices. Forbes ranked the couple as the world’s 30th wealthiest persons in 1997. Since then, they’ve been near the top of Forbes’ ranking.
In 2019, the couple launched the Fullerton Hotel in Sydney, which is housed in a 146-year-old heritage property.
NUMBER 177 Forrest Li – Net Worth: US$12.4B
Forrest Li, along with two local billionaires David Chen and Gang Ye, founded and run Sea, an online gaming and e-commerce company. When Sea was listed on the New York Stock Exchange in 2017, Li’s fortune soared, putting him among the world’s wealthiest people. Kuok Khoon Hua, a fellow billionaire, and General Atlantic, a private equity firm, are among Sea’s investors.
Li is the founder of Shopee, a renowned online shopping site, and was responsible for appointing Christiano Ronaldo (a fan of Li’s) as Shopee’s brand ambassador on several occasions.
Li was voted Businessman of the Year at the 35th Singapore Business Awards in March of this year.
NUMBER 358 Gang Ye – Net Worth: US$7.1B
Gang Ye is one of the three founders of Sea, a company that specializes in online gaming and e-commerce. He began as the group chief technology officer, but in January 2017, he was promoted to group chief operational officer.
Before joining Sea, Ye worked for the Singapore Economic Development Board and Wilmar International.
NUMBER 384 Wee Cho Yaw Net Worth: US$6.8B
Wee Cho Yaw is the chairman of the Singapore-based United Overseas Bank (UOB) and United Industrial Corporation (UIC). Wee Cho Yaw is the chairman of the Singapore-based United Overseas Bank (UOB) and United Industrial Corporation (UIC).
UOB is now Singapore’s largest bank, with over 500 branches and offices in 18 countries across the world.
NUMBER 496 Kwee Brothers – Net Worth: US$5.6B
The Kwee brothers are property developer Henry Kwee’s sons: Kwee Liong Keng, Kwee Liong Tek, Kwee Liong Seen, and Kwee Liong Phing. The Pontiac Land Organization is overseen by this group.
Liong Keng is the group’s managing director, Liong Tek is the chairman, and younger siblings Liong Seen and Liong Phing are on the board of directors.
The company owns a number of high-end hotels and prestigious business buildings. Regent Singapore, Ritz-Carlton Millenia, Conrad Centennial Singapore, and The Capella Singapore are among them. The Capella Singapore is well renowned for hosting the historic Trump-Kim summit in 2018.
NUMBER 502 Shu Ping Net Worth: US$5.5B
Shu Ping is the chief operating officer of Haidilao International Holdings and a co-founder of Haidilao. She lives in Singapore with her husband, Zhang Yong, who is also a billionaire and co-founder of Haidilao. They just established a family office in Singapore, Sunrise Capital Management, to manage their money. Shu is the company’s sole shareholder and director.
NUMBER 665 Takao Yasuda – Net Worth: US$4.3B
Takao Yasuda founded Don Quijote, a bargain shop, in 1980. Pan Pacific International Holdings is the company’s current name, and it operates roughly 600 outlets. Takao Yasuda founded Don Quijote, a bargain shop, in 1980. Pan Pacific International Holdings is the company’s current name, and it operates roughly 600 outlets.
In Orchard Central, Yasuda started his first Japanese discount retail chain in Singapore in 2017. They changed their name to Don Don Donki because there is already a Don Quijote restaurant in Dempsey, Singapore. There are presently 360 stores in the brand’s global network.
NUMBER 775 Kuok Khoon Hong – Net Worth: US$3.8B
Wilmar International was co-founded by Kuok Khoon Hong, a Malaysian-born Singaporean entrepreneur and philanthropist. Wilmar is a significant agriculture conglomerate in Asia, as well as one of the world’s top palm oil traders.
He founded and supported three schools in Indonesia as the chairman of Perennial Holding Private Limited.
NUMBER 1008 Kwek Leng Beng – Net Worth: US$3B
Hong Leong Group Singapore’s executive chairman is Kwek Leng Beng. Kwek’s father was one of the Hong Leong Group’s four founders, and although studying to be a lawyer, he elected to join the family business in the early 1960s.
In 1990, he was named chairman, and he was instrumental in growing the company to over 300 firms, five of which are publicly traded.
NUMBER 1008 Peter Lim – Net Worth: US$3B
Peter Lim is a Singaporean business magnate who also happens to be one of the country’s top stockbrokers and private investors, with a focus on medicine and palm oil. He was named the 10th richest person in Singapore by Forbes in 2019.
Lim is a private investor in Rowsley, Valencia CF, and Thomson Medical Group at the moment. He’s also planning to convert the Northon Stock Exchange into a boutique hotel.
NUMBER 1205 Choo Chong Ngen – Net Worth: US$2.6B
Choo Chong Ngen is most known for founding Hotel 81, a network of budget-friendly hotels in Singapore. He has had success in the hotel industry both domestically and internationally.
Choo got his start in property development in 1992, when he erected twenty residential units in Geylang. He went on to construct around a hundred more units in the surrounding area. Choo now operates hotel assets in Malaysia, Korea, Thailand, and Australia.
Can you believe how many wealthy people there are in Singapore? What are your thoughts on this? Please share them in the comments section below.