Top 10 Richest Men In Singapore 2020
List of richest men in Singapore. Officially known as The Republic of Singapore, Singapore is one of the countries in the Southeastern part of Asia known for having numerous numbers of rich individuals. This is supported by the fact that most of her citizens occupy some spots in the Forbes List of richest Men in the World.
But who are the Singaporeans that occupy the first ten positions? They include the following:
Top 10 Richest Men In Singapore 2020
1. Li Xiting Net Worth: $14.8 Billion
The richest man in Singapore is Li Xiting. Being the founder and the Chief Executive officer of Mindray Medical International, Li Xiting is one of the major players in the medical field as he has accumulated a fortune for himself over the past years. His company is known for supplying medical devices to hospitals and health institutions. The headquarters of the company is currently located in Shenzen. He graduated from the University of Science and Technology of China and since then has been making huge impacts in the health sector. Recently, he donated about $4.6 Million worth of medical devices to hospitals during the COVID-19 pandemic most especially when the pandemic hit Wuhan and northern Italy badly.
2. Zhang Yong Net Worth: $13.7 Billion
When it comes to making money by stimulating people’s taste buds in Singapore, then Zhang Yong is the culprit. Known as the richest restaurateur in China, he is the current chairman of Sichuan Hot Pot Chain Haidilao which is known for going public in September 2018. The company currently has over 466 restaurants located across different regions including South Korea, Singapore, Japan, and the United State, etc. His company is well known for its spicy dishes and attentive customer services including offering free manicures for waiting customers. He is one of those entrepreneurs that started despite having little knowledge about their niche.
3. Goh Cheng Liang Net Worth: $13.2 Billion
Occupying the third spot in the list of richest men in Singapore is Goh Cheng Liang. He is known for accumulating his wealth from his 39 percent stake in Japan’s Nippon Paint Holdings which is the fourth largest paint manufacturer in the World. Before massively venturing into the painting industry by partnering with Nippon Paint, he was making paints in a small industry located in Singapore. Currently, his company has acquired the largest paint manufacturer in Australia known as DuluxGroup. Recently, he made his son the Chairman of Nippon Paint and also made him run their privately held joint venture known as Nipsea.
4. Robert and Phillip Ng Net Worth: $11.3 Billion
The next men on the list of richest men in Singapore are brothers known as Robert and Phillip Ng. They are known for controlling the Far East Organization which is the largest private landlord and property developer in the country. The company is also known to be founded by their father who is also known as ‘The King of Orchard Road’. The company also has a branch in Hong Kong and this branch is known for being overseen by one of the brothers known as Robert while the Singapore branch is overseen by Phillip. The brothers are also known to be philanthropists as they have donated massively in both human and Singapore’s developments.
5. Wee Cho Yaw Net Worth: $5.4 Billion
The fifth richest man in Singapore is Wee Cho Yaw. He once served the chairman emeritus of the third-largest lender in Singapore known as United Overseas Bank. After retiring in 2013, he is now the director of the company. Currently, his oldest son known as Wee Ee Ching is the Chief Executive Officer of the company while his younger son known as Wee Ee Lim has a seat on the board. The family is known for owning about 45 apartments in the Nassim, a luxury Condo which was acquired for about $290 Million.
6. Kwee Brothers Net Worth: $5.3 Billion
The next brothers on the list of richest men in Singapore are the Kwee Brothers. The four brothers are known for controlling Pontiac Land which is a privately held company known for having an array of luxury hotels and iconic offices across the island-nation. The company was founded by their father known as Henry Kwee in 1958. In 2017, the company acquires the Cappella Hotel Group from Legendary Luxury Hotelier Horst Schulze for an undisclosed amount. The brothers are also known for building an 82-story tower located beside the Museum of Modern Art.
7. Choo Chong Ngen Net Worth: $3.2 Billion
Choo Ching Ngen is the seventh richest man in Singapore. Being a well-known hotel tycoon, he is known for making a fortune for himself in the textile industry before launching his Hotel 81 budget chain in one of the districts located in Singapore known as Geylang. Currently, he is now expanding in the midtier market where he has introduced five new hotels since 2009. In 2018, he rebranded his group as Worldwide hotels and the company has expanded into Thailand, Malaysia, Australia over the past years.
8. Jason Chang Net Worth: $3.1 Billion
The eighth richest man in Singapore is the chairman of Taiwan’s Advanced Semiconductor Engineering. Together with his brother, Jason is known as one of the main investors in Sino Horizon Holding which is a commercial real estate developer. His company is the World’s largest provider of independent semiconductor assembling and test manufacturing services.
9. Kuok Khoon Hong Net Worth: $2.9 Billion
Next on the list of richest men in Singapore is a cofounder of Wilmar. The company has been built over the past years into one of the largest palm oil producers in the World. Other investments of Kuok include stakes in Yanlord which is owned by Billionaire Zhong Sheng Jian, Perennial Real Estate Holdings, etc. In addition, he is also a co-founder of Aviva Tower located in London.
10. Raj Kumar and Kishin RK Net Worth: $2.7 Billion
The first father-son pair in the list is Raj Kumar and Kishin RK. The two are among the leading landlords in Singapore with their Royal Holdings/RB Capital property Empire. Their prize holding is known to include the 442-room Holiday Inn Express located at Clarke Quay and the five-star hotel intercontinental located at Robertson Quay. The duo has been investing in tech startups such as Prowler.io etc lately.
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Singapore is one of the homes for rich men. Most of these men are major players in profitable sectors like retail, real estate, technology, medical services, etc. No wonder, most of them have billions in their account.