| Wealth
By Amanda Goh
Apr 06, 2023
Cover Li Xi Ting is richest Singaporean on the list, with a net worth of US$16.3 billion
Li Xi Ting is richest Singaporean on the list, with a net worth of US$16.3 billion
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This year’s list sees 35 Singapore names who made the cut, including three new faces: Kwek Leng Keow, Michael Kum and Loo Choon Yong
Forbes has released its World’s Billionaires List 2023, an annual list that ranks billionaires around the globe. According to the list, the total worth of the planet’s billionaires has dropped to US$12.2 trillion since 2022, with “nearly half of all billionaires poorer than they were a year ago”.
The United States continues to lead with the most number of billionaires in the world—735 to be exact—with a collective worth of US$4.5 trillion. China comes in second, with 562 billionaires and a collective worth of US$2 trillion.
This year, 35 Singaporeans have also made it to the list, an increase from 26 in 2022. Their collective net worth also saw an increase from US$106.7 billion in 2022 to US$118.9 billion.
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Above Li Xiting has topped the ranking as the richest Singaporean on Forbes World’s Billionaires 2023 list
Above Goh Cheng Liang ranks 123rd place in the world and is Singapore’s second richest person
Li Xiting has topped the ranking as the richest Singaporean on Forbes World’s Billionaires 2023 list
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Once again, the founder and chairman of Shenzhen Mindray Bio-Medical Electronics Li Xiting has topped the ranking as the richest Singaporean on the list, with a net worth of US$16.3 billion. That said, his global ranking has fallen from 95th place in 2022 to 103rd place this year.
Following closely behind Li is Goh Cheng Liang. According to Forbes, Goh gets his wealth from a stake in Japan’s Nippon Paint Holdings. With a net worth of US$14.3 billion—an increase from US$12.1 billion in 2022—the paint manufacturing tycoon ranks 123rd place in the world and is Singapore’s second richest person.
Other Singaporeans who have stayed on the list since 2022 include hotpot chain Haidilao chairman Zhang Yong (299th place); chairman emeritus of United Overseas Bank Wee Cho Yaw (325th place); hotel tycoon Choo Chong Ngen (1067th place); and former stockbroker Peter Lim (1164th place).
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Above Haidilao chairman Zhang Yong ranks 299th place on Forbes World’s Billionaires 2023 list
Above United Overseas Bank Wee Cho Yaw ranks 32hth place on Forbes World’s Billionaires 2023 list
Haidilao chairman Zhang Yong ranks 299th place on Forbes World’s Billionaires 2023 list
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This year also saw three new entrants to the exclusive list, including Kwek Leng Keow, son of banking tycoon Kwek Hong Leong. According to Forbes, Kwek inherited a stake in Hong Leong Group from his father. With a net worth of US$1.4 billion, Kwek stands at 2020th place on the list, along with his brother Kwek Leng Pek, executive chairman of Singapore-listed Hong Leong Asia.
Another new addition to the prestigious list is hotel tycoon Michael Kum. Currently, Kum’s hotel empire, M&L Hospitality Group spans 20 hotels across Asia and Europe. He is in 2540th place on the list, with a net worth of US$1 billion.
Co-founder of Raffles Medical Group, Loo Choon Yong, has also made it to the 2023 list. Sharing the spot with Kum at 2540th place, Loo also has a net worth of US$1 billion. Best known for the Raffles Hospital in Singapore, the group has opened over 100 clinics across the region.
Above Hotel tycoon Michael Kum is a new addition to the Forbes World’s Billionaires 2023 list
Above Co-founder of Raffles Medical Group, Loo Choon Yong ranks 2540th place on Forbes World’s Billionaires 2023 list
Hotel tycoon Michael Kum is a new addition to the Forbes World’s Billionaires 2023 list
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Here’s the full list of Singaporeans that have made it to Forbes’ World’s Billionaires List 2023:
1. Li Xiting (US$16.3 billion)
2. Goh Cheng Liang (US$14.3 billion)
3. Philip Ng (US$7.6 billion)
4. Zhang Yong (US$7.5 billion)
5. Robert Ng (US$7.4 billion)
6. Wee Cho Yaw (US$7.2 billion)
7. Jason Chang (US$4.7 billion)
8. Forrest Li (US$4.6 billion)
9. Kwek Leng Beng (US$3.3 billion)
10. Kuok Khoon Hong (US$3.1 billion)
11. Sam Goi (US$3 billion)
12. Gang Ye (US$3 billion)
13. Choo Chong Ngen (US$2.8 billion)
14. Peter Lim (US$2.6 billion)
15. Kwek Leng Kee (US$2.4 billion)
16. Shu Ping (US$2.1 billion)
17. Zhao Tao (US$2.1 billion)
18. Oei Hong Leong (US$2 billion)
19. Asok Kumar Hiranandani (US$1.7 billion)
20. Raj Kumar (US$1.5 billion)
21. Kishin RK (US$1.5 billion)
22. Ron Sim (US$1.5 billion)
23. Chua Thian Poh (US$1.4 billion)
24. Koh Wee Meng (US$1.4 billion)
25. Kwee Liong Keng (US$1.4 billion)
26. Kwee Liong Phing (US$1.4 billion)
27. Kwee Liong Seen (US$1.4 billion)
28. Kwee Liong Tek(US$1.4 billion)
29. Kwee Leng Keow (US$1.4 billion)
30. Kwek Leng Peck (US$1.4 billion)
31. Zhong Sheng Jian (US$1.4 billion)
32. Min-Liang Tan (US$1.1 billion)
33. Yao Hwiao Tung (US$1.1 billion)
34. Michel Kim (US$1 billion)
35. Loo Choon Yong (US$1 billion)
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Topics
Forbes' 2023 World’s Billionaires List 2023 Forbes' World’s Billionaires List 2023 Li Xiting Goh Chen Liang Zhang Yong Wee Cho Yaw Choo Chong Ngen Peter Lim Kwek Leng Keow Kwek Leng Pek Michael Kum Loo Choon Yong
