Who are the 10 richest people in Singapore? Net worths, ranked – from Leo Koguan, a fan of Tesla’s Elon Musk, to Haidilao co-founder Zhang Yong, and one of Mark Zuckerberg’s former Facebook colleagues
Known as one of the world’s most attractive cities for investment and commerce, over the past two decades Singapore has increasingly become home to top talent in tech, finance and other industries. Combine these stable investment environments with a culturally diverse population, and you have a city that’s appealing to expats from just about everywhere around the world.
The influence of the expat community has changed the commerce landscape, so much so that the wealthiest person now is a Brazilian native who’s spent the past decade in Singapore after achieving groundbreaking success in Silicon Valley, according to Forbes’ latest Singapore’s 50 Richest list.
Here’s who tops the list at the time of writing …
10. The Kwee brothers
Combined net worth: US$6.3 billion
Of the 10 wealthiest names in Singapore, four of them made their fortune in property – including the Kwee brothers. With a net worth of US$6.3 billion, the four brothers Kwee Liong Keng, Kwee Liong Tek, Kwee Liong Seen and Kwee Liong Phing privately own Pontiac Land, which owns and operates a slew of luxury hotels, including the Cappella Hotel chain they acquired in 2017. The brothers are also reportedly avid art collectors.
9. Leo Koguan
Net worth: US$6.5 billion
US$200 million richer is Leo Koguan, a tech giant with a net worth of US$6.5 billion. He runs Shi International with his ex-wife and the company’s CEO, Thai Lee. The IT provider is worth US$14 billion. His true claim to fame and fortune, however, comes from his admiration for Tesla founder Elon Musk – Koguan is said to be the world’s biggest Tesla share investor.
8. Wee Cho Yaw
Net worth: US$7.1 billion
From the finance and investment sector is Wee Cho Yaw, whose bank account comes in at US$7.1 billion. He was the former CEO and now chairman emeritus of United Overseas Bank, formerly United Chinese Bank, which his father Wee Khiang Cheng co-founded in 1935. UOB is currently the third largest bank in Singapore.
7. The Khoo family
Combined net worth: US$8.5 billion
The Khoo family built its fortune on the foundations laid by Standard Chartered Bank investor and banker Khoo Teck Puat, and currently has a stake in the Goodwood Group of Hotels. The matriarch of the family, Mavis Khoo-Oei, chairs the hotel group. However, the family derives most of their US$8.5 billion fortune – US$4 billion to be exact – from selling their shares in Standard Chartered Bank in 2006. The Khoos are also heavily involved in philanthropy and founded the Khoo Teck Puat Hospital in 2010.
6. Zhang Yong and Shu Ping
Combined net worth: US$9.7 billion
With a shared net worth of US$9.7 billion, this husband-and-wife duo hails from China and are the masterminds behind the renowned spicy Sichuan-style hotpot chain Haidilao. The business has around 1,500 locations across China, North America and other parts of Asia, and was listed in Hong Kong in 2022.
5. Kwek Leng Beng and family
Combined net worth: US$11 billion
Another family who made their billions from property, the Kweks run the Hong Leong Group. Kwek Leng Beng is the executive chairman of global property conglomerate City Developments. The family’s net worth is US$11 billion thanks in part to their stakes in these high-profile property businesses.
4. Goh Cheng Liang
Net worth: US$12.3 billion
Goh Cheng Liang shows how dedication and a proven formula is one sure-fire way to success. Goh expanded from a small paint factory to partnering with Nippon Paints Holdings, the world’s fourth-largest paint manufacturer. His majority stake in the Japanese company puts his net worth at US$12.3 billion.
3. Li Xiting
Net worth: US$14 billion
Good health may be priceless, as the saying goes, but you can certainly put a price tag on a successful healthcare business – US$14 billion to be exact. Li Xiting’s wealth comes from Mindray Bio-Medical Electronics, headquartered in Shenzhen. The company’s products range from ultrasound equipment and defibrillators to animal medical systems.
2. Robert and Philip Ng
Combined net worth: US$14.8 billion
The property giants who rank the highest on this rich list are the brothers who control the city state’s largest private property developer. Robert and Philip Ng helm the Far East Organization founded by their father Ng Teng Fong, who also built the family’s Hong Kong faction that trades under the Hong Kong stock exchange as Sino Land Co Ltd. The brothers have US$14.8 billion between the two of them.
1. Eduardo Saverin
Net worth: US$16 billion
With a net worth of US$16 billion, the wealthiest person in Singapore moved to the city state in 2009 and renounced his American citizenship in 2012. If the name Eduardo Saverin sounds familiar, it’s because he started Facebook with schoolmate and co-founder Mark Zuckerberg. While he still owns a stake in what’s been renamed Meta Platforms, the Brazilian native’s primary focus now is on the venture capital fund B Capital, which he co-founded in 2016.
