The Top 10 Richest Men in Singapore

10. Richard Chandler

richard

Net worth: $2.45 Billion

New Zealand citizen Richard Chandler relocated in 2006 to Singapore, where he runs Clermont Group, his personal investment fund, earlier called Chandler Corp. Portfolio, includes stakes in energy companies and in one of Vietnam’s largest private health care providers, Hoan My Medical.

9. Kuok Khoon Hong

hong

Networth: $2.5 Billion

Kuok Khoon Hong, the Singapore-based nephew of Malaysian billionaire Robert Kuok oversees agribusiness giant Wilmar, which reported a 10% drop in revenues to $39 billion for 2015; net profits fell 9% to just over $1 billion, an 8-year low. The company, which he cofounded in 1991, formed 2 joint ventures in January with listed Singapore Foods, a unit of in-flight catering firm SAtS, to supply ?quality foods? to China. Wilmar is expanding in Vietnam; last year it formed a joint venture with Saigon Co-op to make sauces and condiments. In July it agreed to buy 45% of commodities firm Bunge’s oilseed-crushing operations in Vietnam.

 

8. Raj Kumar & Kishin RK

raj

Net worth: $2.6 Billion

Father-son pair, Raj Kumar and Kishin RK, made news in April for securing a $192 million loan from Malaysia’s Maybank in what was one of Singapore’s biggest Islamic finance deals. Their RB Capital’s 300-room Park Hotel Farrer Park in Little India and a 226-room InterContinental Hotel at Robertson Quay are both due to open early next year. their next project is a 60-story tower, located in the Raffles Place business district, that will be among the tallest in Singapore. Keen to expand overseas, they are scouting for acquisitions in Europe.

7. Wee Cho Yaw

wee
Net worth: $4.9 Billion

Wealth of Wee Cho Yaw, chairman emeritus of United Overseas Bank, Singapore’s third-largest bank by market capitalization, took a hit as shares of UOB fell by close to a fifth in the past year on flat earnings amid an economic slowdown. Shortly after the Brexit vote UOB temporarily halted loans for the purchase of London property. Property arm UOL Group saw net earnings drop 43% in 2015 on lower revenues from real estate and hotel operations, which include the Pan Pacific and ParkRoyal chains. To celebrate its 80th anniversary in 2015, the bank made a $15 million endowment to the National University of Singapore and Nanyang Technological University for a scholarship program in Wee’s name

6. Kwee family

 kwee

Net worth: $5.4 Billion

The four Kwee siblings who own privately held Pontiac land were in the news when Perennial Real estate Holdings, backed by fellow billionaire Kuok Khoon Hong (No. 9), their partner in the iconic Capitol Singapore redevelopment in the business district, went to court in April to wind up companies linked to that project. The Kwees are redeveloping 2 of Sydney’s historic sandstone buildings into a 240- room luxury hotel. In New york they are building an 82-story tower beside the Museum of Modern Art that has apartments ranging in price from $3 million to more than $70 million.

5. Goh Cheng Liang

goh

Net worth: $5.7 Billion

Fortune of reclusive paint tycoon Goh Cheng Liang, who owns 39% of Japan’s Nippon Paint Holdings took a hit from a fall in shares of the company as sales in its home market slowed. Goh’s son, Hup Jin,who is Nippon’s executive director is aiming for a 30% rise in revenues to $6.5 billion in 2018. Banking on rising demand in China, he is investing $285 million to boost capacity in the mainland. Hup Jin also runs family’s privately held paint and coatings maker Nipsea, a joint venture with Nippon. The Gohs collect luxury yachts and catamarans.

4. Khoo Family

khoo-family
Net worth: $6.3 Billion

More than a dozen heirs of late banker Khoo teck Puat share fortune derived from selling their stake in Standard Chartered Bank for $4 billion a decade ago. The Khoo family also owns the Goodwood Group of Hotels, best known for the historic Goodwood Park Hotel, chaired by daughter Mavis Khoo-Oei since 2004. In April the hotel’s bakery was in the news when people contracted food poisoning from its popular durian-flavored pastries, forcing the bakery to shut down temporarily. The hotel, which admitted to lapses, says it took immediate steps to rectify them.

3. Eduardo Saverin

 savein

Net worth: $7.2 Billion

Cofounder of Facebook Eduardo Saverin, who has reinvented himself as a venture capitalist but still derives wealth from his minority stake in the company, jumps three spots on its rising shares. In May he closed a new $144 million venture fund focused on India and Southeast Asia, with Silicon Valley investor Raj Ganguly. Velos Partners, the Los Angeles private equity firm that the pair cofounded, has recently invested in 99.co, a Singapore property hunting site, and Xfers, a payment-processing startup.

2. Kwek Leng Beng & family

kwek
Net worth:$7.6 Billion

Property magnate Kwek Leng Beng’s City Developments is pushing for an overseas expansion amid headwinds at home that caused net profit to decline 14% to $77 million in a recent quarter. the South Beach, CDL’s 634-room hotel in Singapore designed by Philippe Starck, was rebranded JW Marriott in June. Son Sherman was appointed deputy CEO in April.

1.Robert & Philip Ng

robert-ng
Net worth: $8.6 Billion

Brothers Robert and Philip Ng control Far East Organization, Singapore’s largest private property developer. Sluggish home market was offset by rising revenues reported by their Hong Kong arm, Sino Group, overseen by older sibling Robert and his son Daryl. Last year, the family donated $15 million to the National Gallery Singapore, a new visual arts institution that has named a roof garden exhibition space after their late father Ng Teng Fong.

 

 

 

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