The sons of the late tycoon Ng Teng Fong lead the way, growing their net worth by some US$1.2 billion.
Brothers Robert Ng and Phillip Ng, who control Singapore's largest private landlord and property developer Far East Organization, have topped the list of billionaires in Singapore for the 1oth year running, according to Forbes magazine's annual list of billionaires.
The Ng brothers, who are ranked #112 globally, have a combined net worth of US$12 billion (S$16.3 billion), US$1.2 billion more than the year before.
Hotpot Riches
A new entrant to the Singapore list is high-school dropout Zhang Yong, in third place (#224 globally). The founder of Sichuan hotpot chain Haidilao is worth US$6.8 billion. The chain, which has an annual turnover of US$10.4 billion from its 370 restaurants in China, Japan, South Korea, the U.S. and Singapore, went public in September. He was 13th on China's rich list in 2018.
His wife, Shu Ping, who is the director of Haidilao International Holdings, is the only woman on the Singapore list. She is ranked #1821 globally with a net worth of US$1.8 billion.
Youngest Billionaire
Singapore's youngest billionaire is 36-year-old Kishin RK, who together with his father Raj Kumar run property empire Royal Holdings/RB Capital, which was behind the redevelopment of Robertson Quay and the InterContinental Singapore Robertson Quay, which opened in October. They are ranked 804 globally with a net worth of US$2.8 billion.
Top 10
- Robert & Phillip Ng (US$12 billion)
- Goh Cheng Ling (US$7.2 billion)
- Zhang Yong (US$6.8 billion)
- Wee Cho Yaw (US$6.1 billion)
- Kwee Brothers (US$5.6 billion)
- Kwek Leng Beng (US$3 billion)
- Raj Kumar & Kishin RK (US$2.8 billion)
- Choo Chong Ngen (US$2.6 billion)
- Jason Chang (US$2.5 billion)
- Peter Lim (US$2.5 billion)
View the rest of the list here.
