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Singapore may be small but it is an economically established city-state. The place is known for its rapid development, strategic location, and status as a global financial hub. In fact, the location isn’t rich with natural resources. However, it does exhibit many billionaires or the richest men in Singapore.
The richest in Singapore are a mixed bunch. Some of them are self-made while others have been part of rich families in Singapore. In fact, be it from scratch or inherited, many have built or expanded their wealth in industries like finance, technology, real estate, consumer goods, etc.
Singapore’s billionaires aren’t just influential businessmen but also machines of philanthropy and social initiatives. Each of these factors makes them inspirational and aspirational. Catering to this, we have consolidated the list of Singapore’s richest men. So, let’s begin!
Here is a list of billionaires in Singapore with data like net worth, change in net worth, sources of income, and their nationality:
While creating a list of the richest people in Singapore seems like an easy task, there are essential hiccups that one might stumble upon. So, we have broken the process of curating this list:
Note: Estimating the accurate wealth of any private personnel can be complex and is subjected to some degree of uncertainty.
Data Sources:
In this step, we picked up all the necessary data. From financial statements to stock market performance. We gathered this data to understand the value of holdings. We also looked for real estate holdings, art collections, and other assets available on the internet to come up with an estimate.
Valuation Technique:
To understand the valuation, we looked for shares held by an individual in publicly traded companies. Furthermore, we checked the private company’s valuation based on cash flow models, multiples of earnings, etc. Adding to it, we also looked at the assets owned by individuals like yachts, real estate, and more.
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As of 24th June 2024, Eduardo Saverin is the richest person in Singapore with an evaluation of around $16 billion.
See, if you want to be rich in Singapore then you can take the usual path. For example, take a good education, specialize in a growing field, make long-term investments, etc.
However, if you want to be the richest man in Singapore, the story is completely different. For that, you have to be extremely ambitious and understand the risk associated.
Here are some strategies to help you pursue the dream of becoming the richest man in Singapore:
As per Forbes, there are 39 billionaires in Singapore, as of 24th June 2024.
As per an updated list by Wikipedia, the top 20 rich people in Singapore are as follows:
Aside from net worth, there are many other factors to consider the richest Singaporean. For example:
Yes, it is considered in many cases especially when the wealth of a family is combined particularly for siblings and spouses.
The combined wealth of Singapore’s richest has fluctuated based on the stock prices, their performance, and the economic conditions.
Singapore’s richest list typically reflects the economic strength of people from backgrounds like real estate, technology, and finance.
One example of a rising star in the Singapore richest list is David Xueling Li. He is the chairman and co-founder of JOYY, a live-streaming and social media platform.
There is no one family that is considered the richest in Singapore. This is because billionaires spread their wealth across borders and in multiple ventures. So, figuring it out would be complex.
The net worth of Tommie Goh Thiam Poh is around $18.7 billion as per Vulcan Post.
Figuring out the youngest millionaire in Singapore is difficult because the information is not publicly available. However, as of Jun 24, 2024, Kishin RK is considered the youngest billionaire in Singapore, if that is of any value.