News Update S'pore richest worth $62b
The top 10 richest in Singapore are:
1) Ng family; US$7.8 billion2) Khoo family; $5.9 billion
3) Wee Cho Yaw; $3.6 billion
4) Kuok Khoon Hong; $3.5 billion
5) Richard Chandler; $3.4 billion
6) Kwee brothers; $3.3 billion
7) Zhong Sheng Jian; $1.8 billion
8) Peter Lim; $1.6 billion
9) Kwek Leng Beng; $1.4 billion
10) Lee Seng Wee; $1.3 billion
Topping the rich list again this year is the family of Singapore's richest man and the late property tycoon Ng Teng Fong. -- PHOTO: SHIN MIN
SINGAPORE'S rich just keep getting richer.
The latest Forbes list of the wealthiest individuals and families here shows that the 40 richest here are now worth US$45.7 billion (S$62 billion), up 17 per cent from US$39 billion last year. As in previous years, the list is made up of well-known entrepreneurs, philanthropists and business leaders.
Topping the rich list again this year is the family of Singapore's richest man and the late property tycoon Ng Teng Fong. Mr Ng, who died in February, has a net worth of US$7.8 billion, a slight dip from US$8 billion from 2009 after a stake in Hong Kong developer Tsim Sha Tsui Properties fell 18 per cent in the past one year.
The family's wealth is still largely derived from property developer Far East Organization.
The Khoo family, which owns the Goodwood Group of Hotels and has a minor stake in Orchard Parade Holdings, stays put at No. 2 with US$5.9 billion.
United Overseas Bank chairman Wee Cho Yaw is ranked third most wealthiest, and is worth US$3.6 billion. He was also among the two biggest gainers in dollar terms. Mr Wee added US$500 million to his wealth and regained the third position after dropping to No. 5 last year with US$3.1 billion.
According to Forbes Asia magazine, which publishes the annual Singapore Rich List, the increase in collective net worth reflects the country's economic resurgence. Singapore is set for record growth this year after shrinking by 1.3 per cent in 2009. The official growth forecast for the year was revised upwards last month from 7 to 9 per cent to 13 to 15 per cent.
