Superapp Grab co-founder Anthony Tan made it one of three new additions to Forbes ’50 richest people in Singapore this year. Beside him was Binance founder and CEO Zhao Changpeng, as well as Nanofilm nanotechnology solutions founder Dr. Shi Xu.
Singapore’s richest man this year is Li Xiting, founder of fan manufacturer Shenzhen Mindray Bio-Medical Electronics.
Venture capitalist and Facebook co-founder Eduardo Saverin came in second on this year’s list, while painting mogul Goh Cheng Liang came in third.
The combined net worth of Singapore’s 50 richest people rose 25% to $ 282 billion (US $ 208 billion) this year, with a net worth of 42 people reaching $ 1.4 billion (1 billion). of US dollars).
One-fifth of those listed this year are tech moguls. Other technology founders on the list are Forrest Li, Ye Gang and David Chen of Sea Limited.
The pandemic had impacted some sectors, including the food and beverage industry, and Zhang Yong and Shu Pink of the Hotpot chain, Haidilao, dropped from last year’s ranking to fourth place. Its net worth rose from $ 19 billion to $ 16 billion.
Here’s a look at some of Singapore’s richest people:
Number 1: Li Xiting (US $ 23 billion)
Li Xiting made his fortune by selling medical devices. He is co-founder and chairman of medical device supplier Shenzhen Mindray Bio-Medical Electronics, and has a net worth of US $ 23 billion.
He has a 70-year degree from the University of Science and Technology of China.
During the pandemic, Mindray donated $ 4.6 million worth of medical devices to hospitals in heavily affected areas such as Wuhan in China and northern Italy.
Number 2: Eduardo Saverin (20.5 billion US dollars)
Eduardo Saverin is best known as the co-founder of Facebook. The 39-year-old is a venture capitalist, but still gets most of his wealth from his small stake in the tech giant.
In 2016 he launched venture capital fund B Capital, with veteran BCG and Raj Ganguly of Bain Capital. The fund has assets under management of US $ 1.4 billion.
Eduardo has been a resident of Singapore since he resigned his U.S. citizenship in 2012 before the public Facebook list.
Number 3: Goh Cheng Liang (US $ 18.6 billion)
Goh Cheng Liang, 94, began making paints in a small factory in Singapore before partnering with Japan’s Nippon Paint in 1962.
Today he gets most of his wealth from a stake in the Japanese firm, which is the world’s fourth-largest paint maker. In March of this year, the company celebrated its 140th anniversary.
Nippon Paint has partnered with the University of Tokyo to research new products that offer protection against Covid-19.
Number 22: Zhao Changpeng (US $ 1.9 billion)
Zhao Changpeng, 45, is nicknamed “CZ” and is the founder and CEO of Binance, the world’s largest cryptocurrency exchange.
In 2020, Binance reached $ 2 trillion in total trading volume and its Binance currency (BNB) is now the third largest cryptocurrency by market capitalization.
Zhao is temporarily based in Singapore. Binance has faced regulatory scrutiny in several countries and Zhao said yes working with the authorities for the betterment of the cryptocurrency industry.
Number 47: Anthony Tan (790 million US dollars)
Anthony Tan is the executive director and co-founder of the dominant Southeast Asian transportation app, Grab. The 39-year-old attacked himself in 2012 to direct Grab: he is the son of Tan Heng Chew, the president of Tan Chong Motor.
Grab now offers services in eight countries and has branched out into motorcycle taxis, delivery services and software research and development.
The technology giant is working on listing on the public market through a SPAC agreement as early as the end of this year. The deal will value the company at $ 39 billion.
Anthony is listed on Forbes as a Singapore citizen. Recently, the employer made news with the purchase of one good class bungalow near Holland Village for 40 million Australian dollars.
Forbes rich list selection criteria
Forbes measures participants’ net worth based on stock prices and exchange rates. The list includes family fortunes and those shared between extended families.
Also included in the list may be foreign nationals residing in Singapore, as well as those who are not residents but have important or other trade relations with the Republic.
As of July 1, 2021, Vulcan Post premium items will be hidden behind a pay wall. Subscribers will be able to enjoy exclusive articles with a higher level of coverage and information on verticals that include government technology, electric vehicles, cryptocurrency and e-commerce. You can check out our premium items here and subscribe to us here.
Featured Image Credit: Financial Times, Forbes