Richest Men in Singapore


Forbes has released the list of richest people in Singapore. (The title of this post is not exactly right – a couple of them are women.)

Can we learn a thing or two about getting rich from this list? Maybe.

First, more than a handful of these 40 people are into property and banking (i.e. choose the right sector).

Second, some of them inherited stakes in businesses and expanded them further (i.e. choose the right parents, ahem 🙂 ).

And third, they work for themselves (i.e. quit your job!)

I reproduce the list of Singapore’s 40 Richest here, with a short profile summary for each of them:

  1. US$6.7 billion – Ng Teng Fong, 79, property development
  2. US$5.7 billion – Khoo Teck Phuat’s family, real estate & investment in bank
  3. US$3.3 billion – Wee Cho Yaw & family, 78, banking: United Overseas Bank (UOB)
  4. US$2.5 billion – Zhong Sheng Jian, 48, luxury residence development: Yanlord Land Group
  5. US$1.1 billion – Kwek Leng Beng & family, 66, hotel & property development, finance: Hong Leong Group, CDL
  6. US$960 million – Kuok Khoon Hong, 58, palm oil & biofuel: Wilmar
  7. US$830 million – Peter Lim, 54, invested in Wilmar
  8. US$650 million – Lee Seng Wee, 76, banking: OCBC
  9. US$600 million – Denis Jen, 83, shopping malls & pork
  10. US$595 million – Chew Hua Seng, 53, education: Raffles Education
  11. US$590 million – Brian Chang, 64, shipyard: Yantai Raffles Shipyard
  12. US$520 million – Tan Boy Tee, 58, tug & barge operator: Labroy Marine
  13. US$500 million – Chua Thian Poh, 59, luxury property development: Ho Bee Investment
  14. US$490 million – Robert Chandran, 57, marine fuel: Chemoil
  15. US$480 million – Simon Cheong, 50, residential property development: SC Global Developments
  16. US$475 million – Cheng Wai Keung & family, 56, property, retail & textile: Wing Tai
  17. US$460 million – Ho Sim Guan, 81, invested in UOB
  18. US$450 million – Lee Kian Soo, 62, services for oil & gas: Ezra Holdings
  19. US$415 million – Ng Chwee Cheng & family, 75, construction equipment: Tat Hong
  20. US$360 million – Kwek Leng Kee, inherited stake in Hong Leong Group
  21. US$345 million – Olivia Lum, 46, water treatment: Hyflux
  22. US$335 million – Ow Chio Kiat, 62, shipping, logistics, real estate
  23. US$330 million – Margaret Lien, 65, inherited UOB shares from husband Lien Ying Chow
  24. US$305 million – Kartar Singh Thakral, 73, real estate & consumer electronic manufacturing
  25. US$285 million – John Chuang & family, 59, chocolate maker: Petra Foods
  26. US$235 million – Loo Choon Yong, 58, medical service: Raffles Medical
  27. US$230 million – Yao Hsiao Tung, 66, contract electronics manufacturing: Hi-P International
  28. US$225 million – Wong Ngit Liong, 65, contract electronics manufacturing: Venture Corp.
  29. US$210 million – Oei Hong Leong, 59, investor
  30. US$200 million – Kwek Leng Peck, inherited stake in Hong Leong Group
  31. US$195 million – Ho Kwon Ping, 55, resort & spa: Banyan Tree
  32. US$185 million – Victor Sassoon, 49, coffee chain: Coffee Bean & Tea Leaf
  33. US$170 million – Goh Lik Tuan, 55, contract electronics manufacturing: GES
  34. US$165 million – David Lam, 55, shipping container: Goodpack Ltd.
  35. US$155 million – Lee Seng Tee, banking: OCBC
  36. US$150 million – Christina Ong, luxury fashion: Club 21
  37. US$135 million – Ron Sim Chye Hock, 48, massage chairs: OSIM International
  38. US$125 million – Albert H C Teo, hotel & property development: Amara Holdings
  39. US$115 million – Raymond Goh, shipping services: Swiber Group
  40. US$105 million – Sim Wong Hoo, 52, multimedia products: Creative Technology

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  1. Masindi, maybe Forbes can’t put a number to their wealth, or maybe they’re just not rich enough? 🙂
    Who do you have in mind?

  2. sheeesh,these people are dammn rich siaa.if i were to be compared to them,i sure am a small ant you see crawling everywhere,finding food.sad case,sad case.why dont they donate some of their money to the public?haha,joking.duhh.well,they rock my world and they are pretty good role models.

  3. We can be rich if we follow what the rich people do. If you don’t tell your money what to do your money will tell you what to do. So get a budget and start crawling your way to it. It will be a painful way, but hey almost everyone started the same like us.

  4. omg… i dont need 100million or wad. Just give me one million is enough to make me fly to the skies. Maybe each of the top 40 just give me 25k. so 25k x 40 = 1m. =D

  5. Hi,

    I am a poor man who need financial assistance from rich people, if you can give me extra cash. I would be able to survive with my son.

    I and my son are jobless due to poor health. My wife have separated from me since 2009 and leave us in the lurch.

    Both my parents have passed away.

    I am suffering from diabetes, anxiety and depression. I need to see doctor urgently for my medical check-up and my daily medication have finished. My son also suffering from asthma, anxiety, depression and skin problem, every time he go out he have to bring along his inhaler and his daily medication also finished. We have nobody to turn to for urgent financial help. Without daily income, we cannot survive and buy our medicines surely will die from hunger and sickness.

    We need money $5000 today so that we can pay our outstanding bills and seeing doctor for check-up and buy medicines.

    My son need $13,000 today to pay the school fee to ITC and University of London (UOL) now for him to attend the full time course on UOL Diploma in Law next year April, 2012. Thereafter, we need $5000 on every month to pay our daily living expenses, monthly bills and medical compulsory.

    Our Christmas, New Year and Chinese New Year is coming soon and we everyday very worried about no money on hand to celebrate this happy occasion.

    Please any rich people or kind hearted person help us instantly.

    I daily pray to the Lord that I will receive a good news shortly.

    Thank you for your understanding and assistance.

    Yours sincerely,


  6. “No servant can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money.”

    “Do not save riches for yourselves here on earth, where moths and rust destroy, and robbers break in and steal. Instead, save riches for yourselves in heaven, where moths and rust cannot destroy, and robbers cannot break in and steal. For your heart will always be where your riches are.”

    “Keep your life free from the love of money, and be content with what you have”.

  7. Very telling of Singapore society when the majority of the rich here is old-school wealth that is mostly inherited. If you run the same study in the US, most of the wealthy would be self-made with a tilt towards Technology and innovation, which are the real entrepreneurs giving value to the world. Singapore’s rich are rentier model wealth (i.e. holding fized assets like property) that “taxes” the public without generating new innovations or productivity. Similarly, bankers’ wealth at the fundamental level are just playing with numbers on a computer screen, without real goods or lasting value to humanity. Technology and innovation in the sciences, medical advances and engineering are the real advances for human society and generates a better quality of life for all. Bankers, Wall-street types and property wealthy are mostly salesmen without much contribution to society and make money pretty much the same way as a 100 years ago (either by renting assets or practicing ursury ). A 100 years into the future, bankers and property-owners will still be using the same rentier methods to leech on the efforts of the rest of society.

  8. hi eversince we move into this house we are facing severe financial difficulties.My husband’s income was not stable.I have two very small kids so I cannot go out and work. Iam looking for home based job till now now I never get it.We have so many loans including HDB Loans to pay every month but have no money to pay.WE find it very difficulty in making the end meet every month .Now my elder son started schooling, we find very difficult in paying his fees. Is there is really any kind hearted people in singapore plshelp us how to earn money or give some money to overcome from this problem.Thank you

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