SINGAPORE: The combined wealth of Singapore’s 50 richest individuals and families rose 23% to a record US$239 billion (S$306.23 billion), as 41 of them gained more wealth.
According to Forbes, the rise came as Singapore’s economy grew 4.3% in the first half of 2025, helped by what it described as an “export overdrive” amid tariff-related uncertainties.
The wealth of Facebook co-founder and long-time Singapore resident Eduardo Saverin, who has held the top spot for the third year in a row, jumped from US$14 billion to US$43 billion, supported by a rally in Facebook parent Meta Platforms’ shares following an artificial intelligence (AI)-fuelled advertising surge.
Real estate magnate Kwek Leng Beng and his family, who run Singapore’s second-largest property developer City Developments Limited (CDL), climbed two spots to second place with US$14.3 billion, amid a boardroom brawl involving him and his son earlier this year.
Robert and Philip Ng, whose fortune slipped due to weakness in Hong Kong’s property sector, ranked third with US$14.1 billion.
In fourth place were the heirs of paint tycoon Goh Cheng Liang, who died last month at the age of 98. The Goh family’s fortune reached US$13.1 billion, boosted by a near 30% rise in shares of Nippon Paint Holdings, which last year acquired US chemicals firm AOC.
Shenzhen Mindray Bio-Medical Electronics co-founder and chairman Li Xiting ranked lower than last year with US$13 billion, placing him in the top five.
New York-listed Sea’s three cofounders, Chairman and CEO Forrest Li, COO Gang Ye, and Shopee chief product officer David Chen, saw their wealth rise as second-quarter revenue across Sea’s digital entertainment, e-commerce, and fintech increased.
Mr Li climbed six places to sixth with US$11.2 billion, Mr Ye moved to 13th with US$6 billion, and Mr Chen jumped 22 spots to 28th with US$2 billion.
After seven years, Teo Swee Ann of Espressif Systems and the Ng family of Pan-United rejoined the list with US$1.5 billion and US$1 billion, respectively.
Singapore’s gaming billionaire, Razer co-founder Min-Liang Tan, who lifted his fortune to US$1.7 billion and appeared on the cover of Forbes Asia’s September issue, was also on the list, as reported by Malay Mail.
Forbes said two from last year dropped off the list as the minimum net worth rose to a record US$1 billion from US$870 million. /TISG
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