Singapore’s Wealth Surge: The Billionaires’ Tale
The famous Forbes Singapore Rich List 2018 delivered a juicy announcement: the combined fortunes of Singapore’s top 50 tycoons have ballooned by 11 % to almost US$116 billion (or S$158 billion). That’s a jump from the previous year’s US$104.6 billion. Talk about a payday!
Real Estate Dynamos and a Social Media Titan
Leading the pack are the Ng brothers, Robert and Philip. The dynamic duo behind Far East Organization has secured the 1st spot for the ninth straight year. Their net worth climbs to US$11.9 billion, a gain of US$2.5 billion over last season.
Right beside them, Eduardo Saverin, the Facebook co‑founder and local resident, claims the 2nd position. He’s mirrored the Ng brothers’ gains, landing at US$11.8 billion. Looks like sharing the playbook works.
Colorful Keys to Success
Third place goes to paint mogul Goh Cheng Liang. His net worth rose by US$700 million, totaling US$8.5 billion. Goh owns a hefty 39 % stake in Japan’s Nippon Paint Holdings, and his son, Goh Hup Jin, just became chairman of the company in March.
Take‑Back‑The‑Hall of Fame
New entrant to the top ten is Richard Chandler, a New Zealander and Singapore permanent resident. He leaps four spots to hit #8, valued at US$3.15 billion. The growth stems from a 50 % spike in Clermont Group’s net assets, thanks to some undisclosed investment wins.
Nations on the Map
- Gordon Tang (China‑born) lands at #32 with US$1 billion. He’s the controlling owner of listed property firm SingHaiyi Group.
- Muhammed Aziz Khan (Bangladesh‑born) sits at #34, earning US$910 million. The Chairman of Summit Group aims to list Summit Power International on the Singapore Exchange.
- Forrest Li rounds out the trio at #42, holding US$738 million. He launched the online gaming juggernaut Sea on the NYSE in October 2017.
So there you have it—Singapore’s richest are re‑confirming the trend that money, effort, and a bit of clever positioning can indeed stack up big. Stay tuned for the next chapter in the saga of the country’s most influential (and fabulously affluent) figures!
What Did the New Threshold Look Like?
Did you notice the door to this year’s list slid slightly? It’s now a $535 million threshold—just a few bucks shy of last year’s $540 million.
The Big Picture
- Bottom line: $535 million is the new cut‑off.
- Previously: $540 million.
Want the Full Roster?
For the complete lineup, head over to www.forbes.com/singapore. (We’ll leave the actual hyperlinks out, but it’s right there!)
Note: The original story was published in The Business Times. Reproduction requires permission.
