International Business & Economy 8 Singaporeans included in Billionaires Index of top 500 wealthiest in...

8 Singaporeans included in Bloomberg Billionaires Index of top 500 wealthiest in the world




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Singapore — In case anyone was wondering how many of our countrymen made it on the list of the richest people around the globe, they need not wonder any further because Bloomberg released its Billionaires Index on Tuesday (Dec 24).

Singapore has 8 of its own crazy rich Asians included amongst the world’s most affluent.

Bloomberg’s Billionaires Index tracks the wealth of the 500 richest individuals around the world, based on “action in the stock market, economic indicators and news reports”. The index began in 2012 with Mr Carlos Slim Helu, a Mexican telecommunications tycoon, on the top of the list with an estimated US$65.8 billion net worth. He was usurped from the top spot the year following by Microsoft’s Bill Gates. Since then, Mr Gates and Amazon founder and CEO Jeff Bezos have been taking turns in the top spot, and are this year’s number one and two respectively, with Mr Gates’ net worth at US$113 billion (S$153 billion) and Mr Bezos’ at US$112 billion (S$151.7 billion).

Rounding out this year’s top five billionaires are Mr Bernard Arnault, Mr Warren Buffet and Mr Mark Zuckerberg. Mr Arnault is the CEO and chairman of LVMH Moët Hennessy – Louis Vuitton SE, LVMH, which is the biggest luxury-goods company around the globe. His net worth is US$104 billion (S$141 billion).

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Next on the list is Mr Buffet, an American business magnate, investor and philanthropist,  and the chairman and CEO of Berkshire Hathaway. His net worth is US$88.9 billion (S$120.4 billion). In fifth spot is Facebook’s Zuckerberg, with US$78.7 billion (S$106.6 billion).

1. The Singaporean who took the highest spot on the list is Mr Goh Cheng Liang, who took  142nd spot. His total net worth is US$10.7 billion (S$14.5 billion). Mr Goh is a businessman who founded Wuthelam Holdings, a manufacturer of paint and coatings. Forbes says that he “gets the bulk of his wealth from a 39% stake in Japan’s Nippon Paint Holdings, the fourth-largest paint manufacturer in the world”.

2. Next comes Mr Wee Cho Yaw, in 181st spot. His total net worth is US$9.14 billion (S$12.4 billion). Mr Wee is chairman of the United Overseas Bank (UOB) and United Industrial Corporation (UIC).

3. Eight spots down is Mr Li Xiting, ranked 189th. His total net worth is US$8.73 billion (S$11.83 billion). Mr Li is one of the founders Mindray Medical International, whose headquarters are in Shenzhen, China, which supplies medical devices, as well as the company’s CEO.

4-5. The next Singaporeans on the list are couple Ms Shu Ping and Mr Zhang Yong, who are ranked 230th and 232nd, respectively. Ms Shu’s total net worth is US$7.51 billion (S$10.17 billion), while Mr Zhang’s is at US$7.49 billion (S$10.15 billion). They are the co-founders of Haidilao International Holding, which is China’s largest chain of hotpot restaurants, with over 460 branches. Ms Shu is the company’s director, while Mr Zang is its chairman.

6. Next Madam Tan Kim Choo, whose total net worth is US$6.32 billion (S$8.56 billion). She is ranked 298th. The widow of property tycoon Ng Teng Fong, Madam Tan is also the mother of the other two individuals on the list.

7. Madam Tan’s younger son Philip Ng is ranked 327th on the list, with a total net worth of US$5.96 billion (S$8.07 billion). Mr Ng, who has served as Singapore’s Non-Resident Ambassador to Chile and Argentina, has been the CEO of Far East Organization since 1991.

8. Mr Philip Ng’s older brother Robert is the last Singaporean included on the list. His total net worth is US$5.9 billion (S$7.99 billion) and is ranked at 332nd. Together with his son Daryl Ng, Mr Robert Ng has oversight of the Sino Group in Hong Kong.  -/TISG

Read related: Singapore’s richest are 12% wealthier than in 2018, despite global economic woes

Singapore’s richest are 12% wealthier than in 2018, despite global economic woes


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