12-08-2021, 11:35 AM
Aug 11, 2021,09:39pm EDT
SINGAPORE (August 12, 2021) – Amid a rebounding stock market and economy, 36 tycoons on the 2021 Forbes’ Singapore Rich List saw their fortunes rise. This year the list has 42 fortunes worth US$1 billion or more. The combined net worth of the country’s 50 richest rose to $208 billion, up 25% from $167 billion last year.
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Li Xiting of Shenzhen Mindray Bio-Medical Electronics takes the top spot on the list for the first time; he is at No.1 with a net worth of $23 billion. With the coronavirus still at large, shares of his company, a maker of high-tech medical devices, rose 19% since last year, adding $5.2 billion to his net worth.
Facebook cofounder Eduardo Saverin added $6.5 billion to reclaim the No. 2 position after a two-year gap, with a record $20.5 billion fortune. Occupying third place on the list is paints tycoon Goh Cheng Liang, whose net worth rose $3.8 billion to $18.6 billion.
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Hotpot couple Zhang Yong and Shu Ping, ranked No.1 last year, slips to No. 4 with a net worth of $16 billion, down from $19 billion previously.
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Singapore’s efforts to foster a culture conducive to startups are paying off, as one-fifth of the list members are now self-made tech tycoons. Three among them, namely Forrest Li (No. 5, $15.9 billion), Gang Ye (No. 7, $10.3 billion) and David Chen (No. 13, $3.1 billion), cofounders of gaming and e-commerce firm Sea, are the biggest gainers in percentage terms after having more than doubled their individual wealth. The Sea trio have a collective wealth of $29.3 billion, up $16.7 billion from $12.6 billion from a year ago.
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Making his debut on the Singapore Rich List is the Malaysian-born cofounder of Grab, Anthony Tan (No. 47, $790 million), who has previously featured among Malaysia’s richest. Tan, a Singapore citizen, is aiming to conclude one of the biggest SPAC deals later this year that values the Singapore-headquartered ride-hailing and delivery giant at $40 billion. Also new to the list are former college professor Shi Xu (No. 24, $1.8 billion), who became a billionaire following the October IPO of his NanoFilm Technologies International, and crypto billionaire Changpeng Zhao (No. 22, $1.9 billion), who has been living in Singapore since 2019.
Full article and the full top 10 list at: https://www.forbes.com/sites/forbespr/20...h-rise-25/
SINGAPORE (August 12, 2021) – Amid a rebounding stock market and economy, 36 tycoons on the 2021 Forbes’ Singapore Rich List saw their fortunes rise. This year the list has 42 fortunes worth US$1 billion or more. The combined net worth of the country’s 50 richest rose to $208 billion, up 25% from $167 billion last year.
......
Li Xiting of Shenzhen Mindray Bio-Medical Electronics takes the top spot on the list for the first time; he is at No.1 with a net worth of $23 billion. With the coronavirus still at large, shares of his company, a maker of high-tech medical devices, rose 19% since last year, adding $5.2 billion to his net worth.
Facebook cofounder Eduardo Saverin added $6.5 billion to reclaim the No. 2 position after a two-year gap, with a record $20.5 billion fortune. Occupying third place on the list is paints tycoon Goh Cheng Liang, whose net worth rose $3.8 billion to $18.6 billion.
......
Hotpot couple Zhang Yong and Shu Ping, ranked No.1 last year, slips to No. 4 with a net worth of $16 billion, down from $19 billion previously.
......
Singapore’s efforts to foster a culture conducive to startups are paying off, as one-fifth of the list members are now self-made tech tycoons. Three among them, namely Forrest Li (No. 5, $15.9 billion), Gang Ye (No. 7, $10.3 billion) and David Chen (No. 13, $3.1 billion), cofounders of gaming and e-commerce firm Sea, are the biggest gainers in percentage terms after having more than doubled their individual wealth. The Sea trio have a collective wealth of $29.3 billion, up $16.7 billion from $12.6 billion from a year ago.
......
Making his debut on the Singapore Rich List is the Malaysian-born cofounder of Grab, Anthony Tan (No. 47, $790 million), who has previously featured among Malaysia’s richest. Tan, a Singapore citizen, is aiming to conclude one of the biggest SPAC deals later this year that values the Singapore-headquartered ride-hailing and delivery giant at $40 billion. Also new to the list are former college professor Shi Xu (No. 24, $1.8 billion), who became a billionaire following the October IPO of his NanoFilm Technologies International, and crypto billionaire Changpeng Zhao (No. 22, $1.9 billion), who has been living in Singapore since 2019.
Full article and the full top 10 list at: https://www.forbes.com/sites/forbespr/20...h-rise-25/