1 in 3 of Singapore’s wealthiest billionaires are not originally from Singapore

Marina Bay in Singapore at twilight.

SINGAPORE: Insider Monkey recently unveiled its list of Singapore’s 30 wealthiest individuals, sourced from Forbes’ real-time billionaire data as of June 24, 2024. What’s striking is that 1 in 3 of Singapore’s wealthiest billionaires were not originally from Singapore.

Li Xiting, born in Anhui, China, relocated to Singapore and acquired citizenship in 2018. He holds the top spot among Singapore’s billionaires with a net worth of $15.1 billion. Li co-founded Shenzhen Mindray Bio-Medical Electronics, a pioneering medical devices company headquartered in Shenzhen.

Zhang Yong and his wife, Shu Ping, were both from China and now both naturalised Singapore citizens with net worth of $5.2 billion and $2.0 billion, respectively. Zhang Yong is the chairman and founder of the highly successful Haidilao hotpot chain, which operates 1,500 restaurants worldwide, including in Singapore. On the other hand, Shu Ping, is Haidilao’s co-founder and director of Haidilao International Holdings.

Similarly, Forrest Li, also from China, co-founded Sea, a leading e-commerce company in Southeast Asia, and has a net worth of $4.7 billion. His colleague Gang Ye, who moved from China in the 1990s, co-founded Sea alongside him and currently serves as its CEO. Now a naturalised Singapore citizen, Gang Ye has a net worth of $3.0 billion.

Kuok Khoon Hong, born in Johor, Malaysia, is the co-founder of Wilmar, a major player in the global palm oil industry. His journey to success has positioned him among Singapore’s wealthiest with a net worth of $2.7 billion.

Liang Xinjun, originally from Taizhou, Zhejiang, China, was the vice chairman and chief executive officer of Fosun International before becoming one of Singapore’s wealthiest individuals with a net worth of $2.4 billion.

Sam Goi, born in Fuqing, China, is the owner of Tee Yih Jia Food Manufacturing, a key player in Singapore’s food industry, with a net worth of $2.1 billion.

Oei Hong Leong, born in Indonesia and raised in a prominent family, has amassed a net worth of $1.9 billion through investments in corporate bonds and real estate.

Lastly, Zhao Tao, originally from China, chairs Shandong Buchang Pharmaceuticals, a leader in traditional Chinese medicine, with a net worth of $1.8 billion.

These individuals, from diverse backgrounds and industries, have not only accumulated substantial wealth but have also made significant contributions to Singapore’s economy.

Here are the 30 wealthiest people in Singapore as of June 24, 2024:

1. Li Xiting– $15.1 billion
2. Goh Cheng Liang– $11.2 billion
3. Jason Chang– $7.0 billion
4. Philip Ng– $7 billion
5. Robert Ng– $6.9 billion
6. Zhang Yong– $5.2 billion
7. Forrest Li– $4.7 billion
8. Jason Jiang– $3.6 billion
9. Choo Chong Ngen– $3.2 billion
10. Kwek Leng Beng– $3.2 billion
11. Gang Ye– $3.0 billion
12. Kuok Khoon Hong– $2.7 billion
13. Liang Xinjun– $2.4 billion
14. Kwek Leng Kee– $2.4 billion
15. Sam Goi– $2.1 billion
16. Shu Ping– $2.0 billion
17. Oei Hong Leong– $1.9 billion
18. Zhao Tao– $1.8 billion
19. Peter Lim– $1.8 billion
20. Asok Kumar Hiranandani– $1.7 billion
21. Raj Kumar– $1.6 billion
22. Kishin RK– $1.6 billion
23. Kwee Liong Tek– $1.6 billion
24. Kwee Liong Keng– $1.6 billion
25. Kwee Liong Seen– $1.6 billion
26. Kwee Liong Phing– $1.6 billion
27. Wee Ee Cheong– $1.6 billion
28. Koh Wee Meng– $1.5 billion
29. Ron Sim– $1.5 billion
30. Kwek Leng Keow – $1.4 billion

/TISG

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