Who’s the richest of them all?

The 2015 Rich List is out. For the uninitiated, the rich list is a list Forbes puts together annually, ranking people globally in terms of their wealth.

So how did Singaporeans fare on the list in the country’s Golden Jubilee? Not very well, it seems. According to Forbes, the humdrum economy took a toll on Singapore’s 50 Richest’s overall wealth, and dropped nearly 5% to $92.3 billion compared to last year.

But before you feel sorry for these millionaires and billionaires, remember that they’re still more a lot more well off than you are.

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MustShareNews gives you the lowdown on these 28 billionaires:

1. Robert and Philip Ng


Net worth: $8.7B
Source: Real estate

Who: Sons of the late real estate tycoon Ng Teng Fong, the brothers inherited their father’s empire and worked together to bring it to greater heights. They have invested in properties not only in Singapore, but also Hong Kong and even Australia. Their diverse portfolio includes Far East Organization, Far East Orchard, Far East Hospitality and their Sino Group empire in Hong Kong.

Just look at what they own in Singapore:



‘Nuff said.

2. Kwek Leng Beng


Net worth: $7.2B
Source: Real estate

WhoHis father, the late Kwek Hong Png was the founder of Hong Leong group. In the early 1960s, Kwek joined the family business despite being trained as a lawyer in London. In 1990, he became the chairman of Hong Leong Group, now a conglomerate with over 300 companies of which 12 are listed ones. The Group also owns Singapore’s largest finance company, Hong Leong Finance, with 28 branch offices. Kwek is also the Chairman of City Developments Limited (CDL), Singapore’s leading real estate developer with more than 250 subsidiaries.

3. Goh Cheng Liang


Net worth: 6.9B
Source: Paints, Self-made

WhoProbably the most successful rags to riches story in Singapore, the uneducated Goh worked in a hardware store that helped him learn skills which eventually changed his life. In 1949, he created the brand Pigeon Paint by selling surplus stocks of rotten paint auctioned off by the British army. In 1955, he opened his first paint shop in Singapore and became Nippon Paint’s sole distributor. Subsequently, he founded Nipsea Group and ventured into property development. This year, Goh’s Wuthelam Holdings Pte Ltd managed to double their stake in Nippon Group, making Goh the richest Singaporean in January.

4. Khoo Family

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Mavis Khoo-Oei

Net worth: $6.4B
Source: Banking

WhoThe Khoo family consists of the late Khoo Teck Puat’s 14 heirs. The late Khoo founded Malaysia’s most valuable bank, Maybank. In 2006, they sold their Standard Chartered stake for $4 billion to Temasek Holdings and focused on philanthropy and the Goodwood Group of Hotels instead. Goodwood Park Hotel is managed by his daughter Mavis Khoo-Oei.

5. Wee Cho Yaw



Net worth: $5.5B
Source: Banking

WhoSon of millionaire Wee Kheng Chiang, the younger Wee started out working at his family-owned business, Kheng Leong, that traded commodities. Along the way, he learnt the ropes from his father. In 1958, he became the youngest board director of the United Chinese Bank (now United Overseas Bank a.k.a UOB). He was appointed the Managing Director two years later and eventually succeeded his father as Chairman of the bank in 1974. His son Wee Ee Chong has succeeded him as UOB’s Chief Executive Officer.

6. Eduardo Saverin


Net worth: $5.4B
Source: Facebook, Self-made

WhoSince 2009, Saverin has been living in Singapore and renounced his U.S. citizenship in 2011. The Brazilian Internet entrepreneur is one of Facebook’s five co-founders. In 2012, Facebook’s founder Mark Zuckerberg sent an exclusive email to Business Insider about how he cut Saverin from the company and diluted his stake. The two ended up in lawsuits which were settled out of court. Facebook affirmed Saverin’s title as Facebook’s co-founder. As of this year, Saverin owns $53 million Facebook shares. He also made investments in startups including e-grocer Redmart and property portal 99.co.

7. Kwee Brothers

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Kwee Liong Keng

Net worth:  $5.2B
Source: Real estate

WhoThe four Kwee brothers are Kwee Liong Keng, Kwee Liong Tek, Kwee Liong Seen, and Kwee Liong Phing — sons of Indonesian textile trader and real estate developer Henry Kwee. They own Pontiac Land Group, a privately-held hospitality and property company, with numerous luxury hotels such as the Conrad Centennial Singapore, Ritz-Carlton Millenia, and The Capella Singapore under its wing.

Read about their potential heir, Evan Kwee here.

8. Richard Chandler

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Net worth: $2.6B
Source: Investments

WhoThe New Zealand-born businessman relocated to Singapore in 2006. He is the chairman of Chandler Corporation, which invests in public and private equity. Previously, he was CEO of the Sovereign group of companies, in collaboration with his brother, Christopher Chandler. In 2007, the brothers split their assets, and Richard proceeded to start Orient Global (now Chandler Corporation). He also invested in Nobel Education Network, a global chain of international elementary to high schools.

9. Kuok Khoon Hong


Net worth: $2.6B
Source: Palm Oil

WhoNephew of Malaysian billionaire Robert Kuok, the younger Kuok is the co-founder of Wilmar International, which is dubbed the “world’s largest palm oil firm”. The agribusiness giant intends to expand into new markets such as Ethiopia, Myanmar, and Zimbabwe via joint ventures.

10. Raj Kumar and Kishin RK


Net worth: $2.4B
Source: Real estate

Who: This father and son duo is a formidable pair. Kishin RK is the son of billionaire Raj Kumar, CEO of Royal Holdings, and is as capable as his father. In 2006, Kishin RK founded hotel and property group RB Capital and is in the midst of integrating this with his father’s company, which would result in an asset size of approximately S$4.5 billion. This is expected to grow to S$10 billion by 2020. Between the two, they also own EFG Bank Building, Cuppage Terrace, RB Capital Building (formerly DBS Securities Building), Holiday Inn Express at Clemenceau and significant stakes in malls including Far East Plaza and Queensway Shopping Centre.

11. Chung Chang Yun

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Net worth: $2.3B
Source: Shipping, Self-made

WhoThe oldest person on this rich list, 93-year-old Chang started his shipping career in Singapore in 1949. In 1967, he founded Pacific International Lines (PIL) with his friends, which pioneered cargo services that transported Chinese goods to the rest of the world. The company is now one of the world’s top 20 shipping firms with a fleet of 180 ships. Chang owns 94% of PIL, with his son Teo Siong Sen managing its daily operations.

12. Sam Goi

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Net worth: $2.1B
Source: Frozen foods, Self-made

WhoAlso known as Singapore’s “Popiah King”, Goi is the chairman of Tee Yih Jia Foods, which makes up the bulk of his wealth. In 1969, Tee Yih Jia started out as Tee Yih Jia Po Piah Dried Pastry Factory, a small and labour-intensive spring roll producer. In 1977, Goi acquired the company for $450,000 and took over active management in 1980. Since 2007, he has been a shareholder in listed firm GSH. In 2012, he invested $14 million to restructure the company, making him GSH’s largest shareholder.

13. Peter Lim


Net worth: $2B
Source: Investments, Self-made

Who:  It’s hard to image that Singapore’s Remisier King once worked as a cook, a cab driver and a waiter during his university days. He later became a stockbroker for mainly Indonesian clients. In 1996, he became a full-time investor and invested $10 million in palm oil producer Wilmar International for a 5% stake, which is now valued at $700 million. He also invested in fashion distributor FJ Benjamin and is their second largest investor, as well as investments in the agri-business and logistics. In 2010, he bought over Thomson Medical Centre. Here are 11 things he owns that will make you jelly.

14. Ong Beng Seng and Christina Ong


Net worth: $1.8B
Source: Diversified, Self-made

WhoBusiness magnate Ong Beng Seng started his career when he joined an insurance firm for ships. In 1975, he joined Kuo International, founded by businessman Peter Fu Yun Siak. He met Fu’s daughter, Christina Ong at the company and they would later get married. After his trading career at Kuo International, Beng Seng founded his own firm, Hotel Properties Limited.

His wife founded her first establishment in 1972. She now heads the COMO Group, with fashion group Club 21, wellness brand COMO Shambhala, COMO Hotels and Resorts and others under its umbrella.

15. Lim Oon Kuin


Net worth: $1.7B
Source: Oil trading, Self-made

WhoLim started his business 50 years ago. It started with one truck that delivered diesel to fishermen but today, his family-owned oil-trading firm Hin Leong is one of Singapore’s biggest oil traders with $13 billion in revenues. Boasting a fleet of over 100 tankers, the company owns one of Asia’s largest oil storage terminals.

16. Lee Seng Wee


Net worth: $1.6B
Source: Banking

WhoThe third son of Lee Kong Chian, he was the chairman of Oversea-Chinese Banking Corporation (OCBC) but stepped down in 2003. He then assumed a non-executive position as Director of Great Eastern Holdings Ltd until 2013.

17. Asok Kumar Hiranandani


Net worth: $1.4B
Source: Real estate

Who: Hiranandani and his older brother, Raj Kumar co-founded Royal Brothers property group. They later divided the assets of the company, which involved properties worth approximately $1.4 billion, and Hiranandani went on to form Royal Group Holdings in 2011. Royal Group Holdings is now housed at its Raffles Place corporate headquarters site the group acquired for more than $220 million in 2011. He has handed the business over to his son, Bobby Hiranandani, who managed the project development of the Sofitel So Hotel. The father-and-son’s overseas portfolio includes assets in Indonesia and Australia.

18. Tang Wee Kit

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Net worth: $1.4B
Source: Retail

Who: Son of the late Tang Choon Keng, the younger Tang is the executive chairman and managing director of Tang Holdings, the family-owned private investment firm. Their biggest asset is Tangs, Singapore’s oldest department story, Tang Plaza on Orchard Road and Singapore Marriot Hotel at Tang Plaza.

19. Lien Family


Net worth: $1.4B
Source: Banking

Who: The family patriarch of the Lien family is none other than Lien Ying Chow. The clan has a minority stake in United Overseas Bank. Their public representative is Laurence Lien, who heads the Lien Foundation. The Nominated Member of Parliament who served from 2012-2014 holds memberships and leadership positions on various committees and boards, and is a philanthropist and champion for the impoverished.

20. Ho Family

Net worth: $1.3B
Source: Banking

Who: The Ho family is made up of the late banker Ho Sim Guan’s heirs. According to Forbes, they “inherited his shares in United Overseas Bank is up on information that they have a higher stake in private investment firm Tai Tak Estates through which the bank’s shares are held”. Last year, the Hos listed property firm First Sponsor Group, which they co-own with the Kwek’s Hong Leong Group.

21. Choo Chong Ngen

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Net worth: $1.3B
Source: Hotels, Self-made

Who: Choo started his career in textiles, but later expanded into property and hotels. He introduced budget hotels to target price-conscious travellers. Today, his hotel empire has nearly 5,000 rooms islandwide, including the Hotel 81 chain, V Hotel and Value Hotel. This year, he donated $1.5 million to Singapore Management University in a bursary scheme known as the Hotel 81 – Choo Chong Ngen Bursary. His daughter, Carolyn Choo, is a shareholder and Director of Hotel 81.

22. Ron Sim

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Net worth: $1.2B
Source: Retail, Self-made

Who: The founder of Osim International sold noodles for a living when he was a child. In 1979, he established Osim, which popularised home massage chairs. It eventually branched out into Hong Kong and China. Sim also owns GNC in Southeast Asia, China-based Richlife, and the United States-based Brookstone.

23. Koh Wee Meng


Net worth: $1.2B
Source: Real estate, Hotels, Self-made

Who: The founder, chairman and CEO of Fragrance Group broke off from his family’s jewelry retailer, Aspial, in the 90s. He started making his fortune in real estate by buying and selling affordable residential properties and operating a budget hotel. In 2012, he turned the hotel arm into a chain of budget hotels under Global Premium Hotels. Koh acquired three million shares of Fragrance to own 73.3-percent stake. Together with his wife Lim Wan Looi, they own 84.2 percent.

24. Zhong Sheng Jian


Net worth: $1.2B
Real estate, Self-made

Who: Zhong is the founder, Chairman and CEO of Singapore-listed Yanlord Land. Since the 1980s, Zhong has founded and set up several businesses in manufacturing, trading, financial services and real estate in China, Singapore, Hong Kong, Vietnam, Thailand and Australia.

25. Tay Family

Net worth: $1.2B
Source: Retail, property

Who: Through their privately-held company Memocorp, the Tays own prime real estate in Singapore and Australia. Patriarch Tay Tee Peng started out as shirtmaker Ocean Garments in Indonesia and later built a retail empire best known for its chain of affordable OG department stores.

26. Chua Thian Poh

Chua Thian PohSource

Net worth: $1.1B
Source: Real estate, Self-made

Who: In 1987, Chua founded Ho Bee Land and assumed the role of Chairman and Chief Executive Officer. In 1999, the company successfully filed for Initial Public Offering (IPO) and expanded internationally. He was also one of the first to build luxury residences in Sentosa Cove.

27. Oei Hong Leong



Net worth: $1B
Source: Investments

Who: The son of Indonesian billionaire Eka Tjipta Widjaja, Oei is the chairman of Chip Lian Investments. The investor and property developer has a minority stake in Raffles Education, which has 30 colleges and universities across 12 countries. He also owns a valuable art museum in Singapore which consists about 50,000 Buddhist artefacts and artworks.

28. Loo Choon Yong – first-time billionaire


Net worth: $1B
Source: Healthcare, Self-made

Who: The co-founder and executive chairman of Raffles Medical Group started out with just two clinics in 1976. Today, it is one of Asia’s biggest and most profitable integrated health care groups, with 78 clinics in Singapore and four medical centres in Shanghai and Hong Kong. He is also the chairman of the Asian Medical Foundation and an independent director of CapitaMalls Asia.

Money, money, money

So, there we have it. 28 billionaires in our tiny red dot.

Welcome to Singapore: the playground of the super rich.

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With reference to Wikipedia, Singapore Infopedia, Wikipedia, BloombergWikipedia, Business Times, Wikipedia, Prestige SingaporeWikipedia ForbesWikipedia, Prestige SingaporeWikipedia, Singapore Tatler,  Prestige Singapore,  Wikipedia, Prestige SingaporeWikipedia, Bloomberg, The Straits TimesWikipedia, ForbesThe Richest, Yanlord Land, Wikipedia, Forbes, Ho Bee LandPrestige Singapore, Singapore Tatler, Prestige Singapore