Robert & Philip Ng Retains Top Spot for 8th Year
Indiabulls, who relocated to Singapore three years ago. Through his private investment firm, Mission Holdings, he now holds stakes in several ventures, such as mixed martial arts company ONE Championship and California data analytics firm Incedo.Last year’s dropout Ching Chiat Kwong (No. 45, $615 million), known for building shoebox apartments, returns to the list, thanks to a 43% rise in the shares of his Oxley Holdings on brisk overseas sales, primarily in Ireland, Cambodia and Malaysia. Oxley continues to spread its wings, acquiring stakes in a Chinese Special Economic Zone and an Australian developer.More than a fifth of those returning to the list saw their fortune decline. Five in this group have their wealth tied to real estate, a sector that has yet to see an uptick, though some of the biggest property names have cornered prized enclaves in Singapore.The minimum amount required to make the list was $540 million, up from $455 million last year.The top 10 richest in Singapore are:1) Robert & Philip Ng; US$9.4 billion
2) Eduardo Saverin; $9.3 billion
3) Goh Cheng Liang; $7.8 billion
4) Kwek Leng Beng; $7.1 billion
5) Khoo family; $6.3 billion
6) Wee Cho Yaw; $5.8 billion
7) Kwee brothers; $5.3 billion
8) Kuok Khoon Hong; $2.7 billion
9) Raj Kumar & Kishin RK; $2.6 billion
10) Sam Goi; $2.2 billionThe list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and other sources. Unlike the billionaire rankings, this list includes family fortunes, including those shared among extended families such as that of Kwek Leng Beng and his cousins. Net worths are based on stock prices and exchange rates as of the close of markets on July 14. Private companies were valued based on similar companies that are publicly traded.For queries, please contact:
Catherine Ong Associates Pte Ltd
Franz Navarrete Ashley Silitonga
tel: +65 6534 7008 tel: +65 6221 3321
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