Despite a slowing economy, Singapore’s billionaires have managed to stay on top, with their collective wealth rising by 8 per cent to US$177 billion ($241.6 billion), from US$164 billion in 2022.
Forbes’ 2023 list of Singapore’s 50 richest showed on Thursday that they have yet to catch up on their fortunes compared to 2021, when their net worth rose to US$208 billion.
Among the changes at the top was a new No. 1 – Meta co-founder Eduardo Saverin with a net worth of US$16 billion. The Brazilian native added US$6.4 billion as shares of Meta rose by nearly 70 per cent since the fortunes were last measured. He was No. 4 on the list in 2022.
Keeping their second spot are brothers Robert and Philip Ng of the Far East Organization, with US$14.8 billion, down slightly from US$15.2 billion last year.
Shenzhen Mindray Bio-Medical Electronics chairman Li Xiting, slipped to third after two years in the top spot. He had topped Forbes’ list of billionaires in Singapore released in April, which reported a rise in the number of billionaires here to 35 from 26 in 2022.
His drop comes as healthcare stocks took a hit during China’s anti-corruption drive against the pharma sector. Mr Li’s net worth fell to US$14 billion from US$15.6 billion last year.
Holding the fourth spot is Mr Goh Cheng Liang, who controls Japan’s Nippon Paint Holdings. His net worth dropped slightly to US$12.3 billion, from US$13 billion last year. He was listed in April as Singapore’s second-richest person in Forbes’ list of billionaires in Singapore.
Rounding out the top five is Hong Leong Group executive chairman Kwek Leng Beng, who retained the spot with his fortune rising 18 per cent to a record US$11 billion, from last year’s US$9.3 billion.
The Straits Times
