Richest People in Singapore | TOP 10
Haven’t you heard? They are the richest people in Singapore!
The city is an economic success story that is seen in the richness of the people who live there.
It gained 15.1 percent back in 2010 alone due to increased exports, the heart of their economy.
Singapore is located in Southeast Asia, the country’s population of more than 5.5 million citizens generates an income of $339 billion.
The city is the seventh richest city in the world with an average per GPD of $62,400.
Singapore is the place where half of the billionaires on the list made their empires through real estate activities.
The other half earned a fortune through frozen food, medical retail, electronic supplies, banking, palm oil and even paints.
Let’s see the entire list!
N10. Lim Oon Kuin – $2 billion
The guy is a part of the half that made their fortune by exploiting oil. He grew Hin Leong Trading into a giant Singapore oil company.
Hin Leong Trading has revenues over $14 billion each year.
Lim Oon Kuin started over five years ago with a truck he had that delivered diesel to fishers and now he’s expanding into Myanmar, which is already beginning to open up to foreign investment.
Lim Oon Kuin also owns 65% of Universal Terminal, the most significant oil terminal in Asia, where he plans to build a $1.7 billion facility for storage.
N9. Peter Lim – $2.2 billion
Peter Lim made his billions due to good investments. His current focus is on gigantic deals such as the billion-dollar FASTrack Iskandar.
The billion-dollar FASTrack Iskandar is a company dedicated to hosting motor sports.
Another giant project is a gated city he’s developing alongside a medical complex that he’s also building.
As a huge fan of Manchester United, his dream is to own a major football team, and is now attempting to purchase Valencia in Spain with promises to turn the franchise around financially.
Peter’s daughter, Kim Lim, has become an It girl and Instagram celebrity, documenting her life as one of Singapore’s richest heiresses.
N8. Kuok Khoon Hong – $2.3 billion
Kuok Khoon Hong is part of the half that made billion due to palm oil investments. The guy is a major player in the palm oil industry.
One of his major initiatives is his policy to conduct business without violating human rights or forests. Good Guy, Kuok.
He’s currently partnering with First Pacific investment firm to purchase the majority of Goodman Fielder, an Australian food giant, in an attempt to further diversify Wilmar.
Kuok Khoon Hong is the owner of more than a quarter of India’s biggest sugar refiner.
The Singapore-based nephew of Malaysian billionaire Robert Kuok is the chairman and CEO of palm oil giant Wilmar International.
N7. Raj Kumar and Kishin RK – $2.3 billion
The father and son are another example of good investments made at the right time.
They control vast investments in real estate developments. So they are part of the half that made their billions from real estate.
They are part of the board of Singapore River One, whose mandate is to revitalize waterfront properties along the river.
In this capacity, Kishin has been involved in his father’s renovation of Robertson Quay and a new Holiday Inn with 442 rooms. They also own office towers, medical facilities and other hotels.
Father-son duo Raj Kumar and Kishin RK are among Singapore’s leading landlords with a string of prime properties that include office towers, hotels and medical suites under their Royal Holdings/RB Capital portfolio.
N6. Jason Chang – $2.9 billion
And we are on the sixth place where we found Jason Chang who is the sixth richest man in Singapore.
He is the leader of Advanced Semiconductor Engineering. Chang has benefited from climbing shares at his company, which is one of the largest semiconductor-packaging companies in the world.
This rise was attributed to a rapid response to new technology surrounding wearable electronics, cementing his future-leaning reputation.
He also owns a part of Sino Horizon Holding, a commercial real estate company located in China.
With a net worth of $2.9 billion, Chang earned his place on our list. Don’t you think?
N5. Goh Cheng Liang – $4 billion
Remember when we mentioned about the half that made billions from paintings? Well, here is the perfect example for that statement.
Goh Cheng Liang is a paint magnate with a philanthropic streak, who has recently donated $40 million for the National Cancer Center Singapore.
This media-shy billionaire recently cut a deal with Nippon Paint to double his stake in the company.
The company is run by Wuthelam Group, so it will expand his influence in paint to Malaysia, China, Vietnam and India.
Goh Cheng Liang has a net worth estimated at $4 billion which makes him the fifth richest man in Singapore.
N4. Kwee Brothers – $5.1 billion
Pontiac Land, a company created by Henry Kwee is now owned by Kwee brothers, who took over the company after their dad died.
Their principal aim is to develop luxury proprieties for the wealthy and rich.
As for their business, one of the recent deals they made involves the construction of a 72-story residence beside the Museum of Modern Art in Manhattan.
This will also expand gallery space by 36,000 square feet. The Kwee brothers own luxury hotels, office towers and high rises in Singapore.
And so, the Kwee brothers are among the richest people in Singapore and their net worth is estimated at $5.1 billion.
N3. Wee Cho Yaw – $5.9 billion
This is another example of fortunes well run which lead to the success which eventually led to a billion dollar company.
Mister Wee Cho Yaw is the man who inherited United Overseas Bank. The bank was created and developed by his father nearly 80 years ago.
But you may think that after he took over the company the income stopped or got lower. But no, since taking over, the company has grown into the third largest lender in Southeast Asia.
Wee Ee Cheong, Wee Cho Yaw’s son, runs the bank, collecting the second biggest paycheck of all bankers in Singapore.
N2. Kwek Leng Beng – $7.5 billion
We are almost there, to the number one the richest man in Singapore. But until then, we have the second richest man named Kwek Leng Beng.
The two biggest pieces of Kwek Leng Beng’s fortune are City Developments and Millennium & Copthorne Hotels, which have completed and are involved in projects upwards of half a billion dollars.
He’s acquired Novotel in Times Square and Chelsea Harbour Hotel in London, as well as completing the world’s biggest vertical garden in Singapore.
This guy has a net worth estimated at $7.5 billion which makes him one of the wealthiest people in Singapore and in the world.
N1. Robert and Philip Ng – $11.8 billion
And guys this is it. The richest man in Singapore is actually Robert and Philip Ng.
But wait, they are two. Two brothers are the richest men in Singapore and ones of the richest people in the entire world.
Robert and Philip Ng created their billions through real estate deals and developments, recently investing hundreds of millions in the Australian market.
The Far East Hospitality Trust, owned by the Ng brothers has properties worth nearly $2.5 billion.
Tsim Sha Tsui Properties in Hong Kong forms the biggest chunk of their fortune.
With a net worth estimated at $11.8 billion, Robert and Philip Ng top our list.
Who did we miss? What do you think about the richest people in Singapore?
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