Rank : 1 - Ng Robert & Philip
Net Worth: $10.1 B
Source of Wealth: Real Estate
Country of Citizenship: Singapore
Brothers run family's Far East Organization founded by their father, Ng Teng Fong, who died in 2010. Group, which has developed hundreds of hotels and malls in Singapore and Hong Kong, has annual revenues of $5.5 billion. Companies include Hong Kong-listed Tsim ShaTsui Properties, chaired by Robert. In June they announced plan to list a REIT with some hotel assets from their Singapore-listed hotel and property unit Orchard Parade Holdings. Younger sibling Philip manages family's Singapore interests. This fortune earlier featured under Ng family is listed under brothers as they are coexecutors of family estate.
Rank 2 : Khoo family
Net Worth: $6.7 B
Source of Wealth: Banking
Residence: Singapore
Country of Citizenship: Singapore
The family of Khoo Teck Puat, the late Malaysian property tycoon and banker, topped a list of the richest Singaporeans with a net worth of $5 billion, Forbes, a New York-based publisher, said Wednesday.
The 14 descendants of Khoo, who died at the age of 89, came first on Forbes' ranking of the wealthiest in Singapore after selling a 12 percent stake in Standard Chartered Bank this year for $4 billion, Forbes said in a statement. The Khoos, including two daughters, Mavis and Elizabeth, own property assets, like the Goodwood Park hotel in Singapore, worth a total of $1 billion, said Forbes.
More than one-third of the 40 richest Singaporeans made their fortunes in the property and finance industries.
The collective net worth of the 40 wealthiest Singaporeans is $28 billion, said Forbes. This is $2 billion more than their Malaysian rivals and $8 billion more than the richest in Thailand.
Rank 3 : Wee Cho Yaw
Net Worth: $6.7 B
Source of Wealth: Banking
Residence: Singapore
Country of Citizenship: Singapore
The family of Khoo Teck Puat, the late Malaysian property tycoon and banker, topped a list of the richest Singaporeans with a net worth of $5 billion, Forbes, a New York-based publisher, said Wednesday.
The 14 descendants of Khoo, who died at the age of 89, came first on Forbes' ranking of the wealthiest in Singapore after selling a 12 percent stake in Standard Chartered Bank this year for $4 billion, Forbes said in a statement. The Khoos, including two daughters, Mavis and Elizabeth, own property assets, like the Goodwood Park hotel in Singapore, worth a total of $1 billion, said Forbes.
More than one-third of the 40 richest Singaporeans made their fortunes in the property and finance industries.
The collective net worth of the 40 wealthiest Singaporeans is $28 billion, said Forbes. This is $2 billion more than their Malaysian rivals and $8 billion more than the richest in Thailand.
Rank 3 : Wee Cho Yaw
Net Worth: $5 B
Age: 84
Source of Wealth: Banking
Country of Citizenship: Singapore
Marital Status: Married
Children: 5
Wee Cho Yaw joined the Board of Directors of the then United Chinese Bank (the now United Overseas Bank, UOB) in 1958. He was appointed Managing Director of the Bank two years later, and when his father Wee Kheng Chiang, founder of the then United Chinese Bank (UCB), retired in 1974, Wee succeeded him as Chairman of the Bank. His son Wee Ee Chong succeeds him as CEO of UOB.
The Singapore Government recognized Wee's public service by awarding him the Public Service Star in 1971,and Wee was named Singapore Businessman of the Year for his outstanding corporate success in 1990 and 2001. In 2006, for his contributions to the banking sector, He was presented with the inaugural Credit Suisse-Ernst & Young Lifetime Achievement Award, which honours the accomplishments of Singapore's pioneer entrepreneurs. Wee was conferred an honorary Doctor of Letters by the National University of Singapore in July 2008.
Rank : 4 - Kwee brothers
Net Worth: $4.6 B
Age: 68
Source of Wealth: real estate
Country of Citizenship: Singapore
Education: Bachelor of Arts / Science, Philadelphia University
Marital Status: Married
Children: 5
Four brothers control Pontiac Land, privately held property developer and hotel operator that owns, among much else, Singapore's Ritz-Carlton, the Regent, Conrad Centennial and the Capella. Kwee Liong Keng, 66, the eldest, is managing director; Kwee Liong Tek, 65, who has biggest stake, is chairman. Brothers are involved in a $600 million project to rebuild Capitol Center, a Singapore landmark.
Rank : 5 - Richard Chandler
Net Worth: $2.85 B
Age: 54
Source of Wealth: investments
Country of Citizenship: New Zealand
Marital Status: Single
Richard Chandler is a New Zealand-born businessman, who has a net worth of US$ 3.8 billion. He was formerly CEO of the Sovereign group of companies, in partnership with his brother, Christopher Chandler. Since 1986 to 2006, Sovereign invested in companies and governments in Asia, Africa, Latin America and Eastern Europe, and in industries including telecommunications, electric utilities, steel, oil and gas, banking and oil refining.
The brothers split their assets in 2007 with Richard Chandler creating Orient Global and Christopher Chandler starting Legatum Capital. Chandler's investment style has been described as deep value investing, primarily in global emerging markets and especially in distress situations.
Orient Global changed its name in April 2010: it is now called the Richard Chandler Corporation. The company website states its mission is to “Build Prosperity for Tomorrow's World” through its financial and social investment groups.
In 2007, Richard Chandler launched a US$100 million education initiative in the developing world with the focus to build low-cost private education opportunities in India.
Richard Chandler is also the founder of Freedom to Create and the Freedom to Create Prize, an international award that celebrates the power of the arts to promote social justice and inspire the human spirit.
In 2012, it was reported that Richard Chandler considered investing in the Tasmanian logging company Gunns.
Rank : 6 - Kwek Leng Beng & family
Net Worth: $2.4 B
Age: 72
Source of Wealth: Diversified
Residence: Singapore
Country of Citizenship: Singapore
Education: LLB, University of London
Marital Status: Married
Children: 2
His Hong Leong Group, conglomerate started by father and uncles in 1940s, has interests in property, financial services, building materials. Chairs London-based Millennium & Copthorne Hotels, Singapore property firm City Developments. Younger brother Kwek Leng Joo stepped down as director of hotel company in May, ceding spot to his son Kwek Eik Sheng. Malaysian billionaire cousin Quek Leng Chan heads Hong Leong Group Malaysia.
Rank : 7 - Kuok Khoon Hong
Net Worth: $2.6 B
Age: 63
Source of Wealth: Palm Oil
Country of Citizenship: Singapore
Marital Status: Married
Children: 4
Shares of Wilmar International, the world's largest palm oil company, in which he has minority stake and runs as chief executive, fell more than 30% in past year due to declining profits. Other investments include a small stake in Zhong Sheng Jian'sYanlord Land and London's Aviva Tower, which he co-owns with Indonesian billionaire and Wilmar shareholder Martua Sitorus.
Rank : 8 - Eduardo Saverin
Net Worth: $2.2 B
Age: 31
Source of Wealth: Facebook, self-made
Country of Citizenship: Brazil
Education: Bachelor of Arts / Science, Harvard University
Marital Status: Single
Brazil-born Facebook cofounder debuts on list after renouncing his American citizenship last year, news of which broke days before Facebook's IPO and drew accusations of tax evasion. His response: "My decision to expatriate was based solely on my interest in working and living in Singapore, where I have been since 2009." He arrived in Asia after settling lawsuit with former best friend Mark Zuckerberg and the social network. He has since invested in startups, including Qwiki and Jumio, which created the online payment company Netswipe.
Rank : 9 - Peter Lim
Net Worth: $2 B
Age: 59
Source of Wealth: investments, self-made
Country of Citizenship: Singapore
Marital Status: Married
Children: 2
Former stockbroker Peter Lim has been busy dealmaking since cashing out from palm oil producer Wilmar International in 2010. Stepped up investments in Malaysia recently by partnering state-owned property developer UEM Land Holdings to build Motorsport City, a $1.2 billion motor racing complex in Johor's Iskandar region. His Thomson Medical is partnering with Johor's royal family to build a medical hub there as part of a $ 3 billion integrated development called Vantage Bay being developed by Rowsley, a company that Lim also controls. His other interests include stakes in Chinese property developer Yanlord Land, retailer FJ Benjamin and British automaker McLaren.
Rank : 10 - Ong Beng Seng & Christina Ong
Net Worth: $1.6 B
Age: 68
Source of Wealth: Diversified, self-made
Residence: Singapore
Country of Citizenship: Malaysia
Marital Status: Married
Children: 2
Couple's biggest asset is their stake in luxury British handbag maker Mulberry. They also control Hotel Properties, fashion chain Club 21 and industrial group NSL, which OBS runs. Wife Christina oversees boutique hotel operator Como Group. Other interests include the Singapore Grand Prix and a stake in oil trader Kuo International, run by Peter Fu Chong Cheng (No. 28), Christina's brother. She chairs the National Parks Board and sits on the board of Singapore Airlines.
