Singapore is known for its business friendly nature and its desire to grow, it also has a reputation for being hands off when it comes to economic policies. Because of this, it is no wonder there are so many billionaires living in Singapore and that Forbes has counted 28 of them with an excess of 1 billion dollars in net worth. However the top 5 of these 28 have a net worth boasting between 5.5 and 8.7 billion dollars. While the number of billionaires counted in 2015 is 28, last year’s count only totaled 7 people showing a dramatic boom of money appearing in the country.
#1. Robert and Philip Ng
These brothers inherited the real estate empire of their father, Ng Teng Fong, and have pushed it to greater heights by working together as a team. They have not only invested in property within Singapore, but also in Australia, Hong Kong, and many other places. They have built up a diverse portfolio which includes companies like the Far East Hospitality, Far East Organization, and Sino Group.
2. Kwek Leng Beng
Also in the real estate industry, Kwek Leng Beng has a net gross of 7.2 billion dollars and also inherited his late father’s company. Originally he studied to be a Lawyer in London, but went into the family business anyways and became chairman of Hong Leong Group. This conglomerate of over 300 companies plays a major role in Singapore and helps to provide Kwek Leng Beng with his large net worth.
3. Goh Cheng Liang
Coming in with 6.9 billion dollars, this self-made billionaire is likely to be one of the most successful stories of going from rags to riches. He began working in a hardware store and learned the skills that brought him to where he is today. He created Pigeon Paint, then opened his first shop in Singapore and distributed to Nippon Paint’s, and later founded Nipsea Group. Goh Cheng Liang was named the richest Singaporean in the month of January.
4. Khoo Family
While this isn’t technically an individual, the Khoo Family is well known for being in the banking industry and has a net worth of 6.4 billion dollars. There are a total of 14 heirs to the Khoo Tech Puat’s banking empire, and the late Khoo had founded Malaysia’s biggest and most valuable bank. They sold the Standard Charter stake for 4 Billion and began to focus on the Goodwood Group which is managed by Khoo’s daughter Mavis Khoo-Oei.
5. Wee Cho Yaw
Son of a millionaire, Wee Cho Yaw began working at the family business which was in the trading industry for commodities. After learning the business’s inner workings from his father, he went on to become a director for United Chinese Bank and was the youngest board member ever. Later he moved into the position of Managing Director and surpassed his father as chairman of the bank. Now Chief Executive Officer, Wee Cho Yaw has a net worth of 5.5 billion dollars.
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