The hot-pot billionaire and naturalised Singapore citizen is the country's richest. Here are the rest of the people who made the annual list
Despite global uncertainties and a lower growth forecast for Singapore, the collective wealth of Singapore’s 50 richest was up more than 12 per cent to US$130 billion (S$180.5 billion), mostly due to the inclusion of hotpot billionaire Zhang Yong this year.
The founder of Haidilao International was featured previously among China’s richest and is now a naturalised Singapore citizen and resident. According to Forbes Singapore’s Richest 2019 List, he is Singapore's richest with a net worth of US$13.8 billion.
Zhang replaces real estate siblings Robert and Philip Ng of Far East Organization at the top of the list. The brothers are now at No 2 with a combined wealth of US$12.1 billion.
The Ng family’s fortune continues to benefit from premium prices for its high-end properties, which remain unaffected by the recent political ructions in Hong Kong or by Singapore’s slowing economy. The brothers had previously occupied the top spot on the Singapore Rich List every year this decade.
At No 3 on the list is Facebook billionaire Eduardo Saverin, who saw his fortune fall by US$1.2 billion to US$10.6 billion. Saverin retains a minority stake in the social media giant, which has been battling investor concerns about user privacy issues.
Paint tycoon Goh Cheng Liang (US$9.5 billion) and Hong Leong Group chairman Kwek Leng Beng (US$8.8 billion) wrap up the Top 5.
Kwek is the biggest dollar gainer this year, adding US$1.2 billion to his wealth partly on the back of an overseas expansion of his flagship City Developments, which acquired two London office properties for US$690 million in 2018.