Singapore is currently home to about 154,000 high-net-worth individuals (HNWIs) or millionaires whose collective net worth is US$806.3 billion. The number of HNWIs increased from 130,000 millionaires living in Singapore in 2010, which reflects a 17 percent growth in the country. Here is the list of Richest persons in Singapore.
1. Zhang Yong
NET WORTH: US$23B
The richest restaurateur and now a naturalized Singapore citizen. Zhang Yong is the founder of the famous hot pot chain Haidilao. The restaurant opened its doors in China back in 2018; today, Zhang has 768 Haidilao terminals in China, Japan, Singapore, South Korea, and the United States.
Haidilao gained popularity instantly when it was introduced mostly because of the high-quality dishes they served as well as their highly attentive customer service. The restaurant also offers manicures, hair ties, snacks, and more for its guests. He is among the richest persons in Singapore.
Zhang never finished high school and did not know how to cook a typical Sichuan hotpot when he first started.
Financially, he got help from three friends, one of whom later became his wife, who provided him with the seed money.
2. Goh Cheng Liang
NET WORTH: US$21.7B
Goh Cheng Liang, who is currently 93 years old, established Nippon Paint Singapore in 1955.
Though the company started small, Goh swiftly grew the company such that it became Singapore’s first paint manufacturing plant. Today, Nippon Paint Holdings is the world’s fourth-largest paint manufacture. Goh Cheng Liang is also among the richest persons in Singapore.
This year, Goh’s son, Hup Jin, who chairs Nippon Paint, elected to sell their privately held ventures for US$12 billion in exchange for additional shares in Nippon.
3. Eduardo Saverin
NET WORTH: US$14.6B
In 2004 Eduardo Saverin co-founded Facebook with Mark Zuckerberg. In 2012, the pair parted ways though Saverin stays to retain a small stake in Facebook which provides him with most of his wealth.
Saverin started a venture fund called B Capital with Raj Ganguly in 2016. This fund has since managed to raise S$766 million, and they invest massively in tech firms around the world.
4. Forrest Li
NET WORTH: US$12.4B
Forrest Li, along with David Chen and Gang Ye, other local billionaires, started online gaming and e-commerce firm called Sea. When Sea was listed on the New York Stock Exchange in 2017, Li’s wealth skyrocketed massively. This has put him in the leagues of some of the Richest persons in Singapore.
Sea’s investors include fellow billionaire, Kuok Khoon Hua and private equity firm General Atlantic.
Li is also the originator of the popular shopping platform, Shopee. He was also the person who managed to get Christiano Ronaldo (whom Li is a fan of) to be Shopee’s brand ambassador on several occasions.
5. Gang Ye
NET WORTH: US$7.1B
Gang Ye is one of the three originators of the online gaming and e-commerce firm, Sea. He started as the group chief technology officer but moved on to consider the role of group chief operating officer in January 2017.
Before Sea, this self-made billionaire operated at the Economic Development Board of Singapore and Wilmar International.
6. Takao Yasuda
NET WORTH: US$4.3B
Takao Yasuda was the founder of premium retailer Don Quijote in 1980. Today, the company is recognized as Pan Pacific International Holdings and has about 600 stores.
In 2015, Yasuda walked down as the CEO and chairman. However, he reappeared as a board director in 2015.
In 2017, Yasuda opened his first Japanese discount store chain terminal in Singapore in Orchard Central. However, they renamed themselves to Don Don Donki because Singapore already has a restaurant called Don Quijote in Dempsey. The brand currently has 360 stores worldwide.
7. Kuok Khoon Hong
NET WORTH: US$3.8B
Kuok Khoon Hong is a Malaysian-born Singaporean entrepreneur and contributor who co-founded Wilmar International. Wilmar is one of Asia’s foremost agriculture groups and is also one of the world’s largest palm oil traders.
He is the chairman of Perennial Real Estate Holdings Ltd and has set up and financed three schools in Indonesia.
8. Peter Lim
NET WORTH: US$3B
Peter Lim is a Singaporean business magnate who is also one of Singapore’s commanding stockbrokers and private investors, specializing in medicine and palm oil.
He is ranked among the richest persons in Singapore.
Lim is currently an individual investor of Rowsley, Valencia CF, Thomson Medical Group. He is also thinking of redeveloping the Northon Stock Exchange into a boutique hotel.
9. Choo Chong Ngen
NET WORTH: US$2.6B
Known for being the originator of Hotel 81, a chain of budget-friendly hotels in Singapore, Choo Chong Ngen has achieved success in the hotel industry both locally and on an international stage.
Choo’s first venture into real estate investment started when he was only 21. Using a bank loan, he was able to procure a shophouse unit at that time. In nine years, the tycoon has accomplished to invest in almost 30 other shop units. He then rented them out and earned his living that way.
In 1992, Choo began working in property development when he built twenty residence units in Geylang. He later went on to build about a hundred more units around the same area.
Today, Choo operates hotel properties in places such as Malaysia, Korea, Thailand, and Australia.
10. Richard Chandler
NET WORTH: US$2.4B
Richard Chandler was originally from New Zealand but in 2006, he moved to Singapore where he indented up an interest in investments. Particularly, he is involved in healthcare, financial services, and aerospace.
He currently runs Clermont Group, his investment outfit.
The self-made billionaire has also co-founded Sovereign Global, an investment firm. He also has stakes in an Indian small business loans provider and a healthcare group established in Vietnam.
Here the list of the richest persons in Singapore ends. Get inspired from them and achieve your dreams.