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As of Tuesday, the cumulative wealth of Singapore’s top five billionaires soared to nearly $50 billion, reflecting the remarkable prosperity of the city-state’s elite.
Li Xiting, aged 73, commands a net worth of approximately $15.7 billion. Originating from China, Li embarked on his entrepreneurial journey after graduating from the University of Science and Technology of China. In 1991, he co-founded Mindray, a leading medical equipment manufacturer based in Shenzhen. Under his leadership, Mindray has flourished, boasting a workforce of 17,000 individuals, a quarter of whom are dedicated to research and development. The company’s products are distributed across over 190 countries, solidifying its global footprint.
Goh Cheng Liang, aged 97, possesses a wealth of around $12.4 billion, predominantly derived from his majority stake in Japan’s Nippon Paint Holdings, the fourth-largest paint manufacturer worldwide by revenue. Goh’s entrepreneurial journey began in 1955 when he established his inaugural paint store in Singapore. By 1962, he had secured the primary distribution rights for Nippon Paint in the region. In 2021, his son, Hup Jin, clinched a monumental deal valued at $12 billion, elevating him to majority ownership of Nippon Paint.
Philip and Robert Ng, aged 65 and 72, respectively, command fortunes of $7.2 billion and $7.1 billion, more or less. The brothers helm Far East Organization, Singapore’s largest private landlord and property developer, established by their father, Ng Teng Fong. Philip oversees the Singapore arm, while Robert manages the Hong Kong branch of Sino Group in collaboration with Philip’s son, Daryl.
Jason Chang, aged 79, boasts a net worth of approximately $6.5 billion, primarily attributed to his chairmanship of Taiwan’s Advanced Semiconductor Engineering. Additionally, he and his brother Richard have investments in Sino Horizon Holding, a commercial real estate developer.
These billionaires represent the diverse entrepreneurial landscape of Singapore, embodying innovation, resilience, and strategic foresight in their respective industries.
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