Forbes has released its annual World Billionaire List for 2022, and it sees returning billionaires along with some new names who made the cut for the first time. Like previous years, this list includes names from Singapore as well.
Topping the list once again is Li Xiting, the founder and chairman of Shenzhen Mindray Bio-Medical Electronics—which is one of the leading global providers of medical instrumentation based in Shenzhen, China. Li’s net worth of US$17.6 billion clinches him the title of the wealthiest person in Singapore and the 94th richest billionaire in the world, according to Forbes.
Following the pandemic, Li overtook Chinese hot pot chain Haidilao founder Zhang Yong (who is ranked #509 on the list with a net worth of US$5.3 billion) to become the richest man in the city-state for the first time in 2021. Zhang’s wife, Shu Ping, is the only female billionaire from Singapore on the list this year. She is the director and one of the founders of Haidilao International Holdings.
The pandemic saw significant growth for Li’s company, which manufactures ventilators, a medical device that was in high demand during the pandemic.
Riding on the surge in demand for medical equipment, the company’s shares rose about 19 per cent in 2021 due to a proliferation in demand for its ventilators which was fuelled by the coronavirus outbreak. The naturalised Singaporean’s net worth has since increased by over US$12 billion. Over the past few years, his net worth has been steadily on the rise—from US$5.5 billion in 2019 to US$17.6 billion in 2022.
Other Singapore names include real estate moguls Robert and Philip Ng (US$13.7 billion), Goh Cheng Liang (US$12.1 billion), founder and chairman emeritus of United Overseas Bank Wee Cho Yaw (US$7.2 billion) and the Kwee Brothers (US$5.5 billion). Koh Wee Meng of Fragrance Group is a returnee on the list this year. The hotelier and property tycoon came in at #2448 on the list with an estimated net worth of US$1.1 billion.
Forrest Li, founder and chief executive of online gaming firm and e-commerce firm Sea, also made the annual list even though his net worth tumbled from US$15.9 billion in August of 2021 (when he was reportedly the richest man in Singapore at the time) to US$6.5 billion at the beginning of March this year.
Here are all the Singaporean billionaires from Forbes World's Billionaires List 2022:
1. Li Xiting (US$17.6 billion)
3. Goh Cheng Liang (US$12.1 billion)
4. Wee Cho Yaw (US$7.2 billion)
5. Kwee Brothers (US$5.5 billion)
6. Forrest Li (US$5.3 billion)
7. Zhang Yong (US$5.3 billion)
8. Jason Chang (US$4.6 billion)
9. Kuok Khoon Hong (US$3.5 billion)
10. Gang Ye (US$3.1billion)
11. Kwek Leng Beng (US$2.8 billion)
12. Raj Kumar and Kishin RK (US$2.6 billion)
13. Zhao Tao (US$2.5 billion)
14. Choo Chong Ngen (US$2.4 billion)
15. Peter Lim (US$2.4 billion)
16. Kwek Leng Kee (US$2.1 billion)
17. Oei Hong Leong (US$1.9 billion)
18. Sam Goi (US$1.6 billion)
19. Asok Kumar Hiranandani (US$1.6 billion)
20. Zhong Sheng Jian (US$1.6 billion)
21. Shu Ping (US$1.4 billion)
22. Chua Thian Poh (US$1.3 billion)
23. Ron Sim (US$1.3 billion)
24. Kwek Leng Peck (US$1.2 billion)
25. Koh Wee Meng (US$1.1 billion)
26. Yao Hsiao Tung (US$1 billion)