Top 10 Richest Man in Singapore in 2024
Singapore’s financial success has been driven by its rich residents who are commanding vast wealth across different industries. In 2024 alone, the richest people in the country diversified their portfolio based on market dynamics, strategic business deals and economic changes. A comprehensive examination of the top 10 richest men in Singapore for 2024 will delve into their net worths, business investments and other factors that contribute to their wealth.
Here is the list of the Top 10 Richest Man in Singapore as of 2024:
- Eduardo Saverin
Net Worth: $16 Billion
Global Ranking: #126
Industry: Technology – Social Media & Venture Capital
Overview: Eduardo Saverin, co-founder of Meta Platforms (formerly Facebook), is ranked as one of the wealthiest individuals based in Singapore. This was mainly because of a marked increase in value for Meta’s shares following a successful launch by Thread which was designed to compete with Twitter thus causing an increment of $6.4 billion upon his net-worth. Moreover, apart from technology ventures he is also co-owner of B Capital Group thereby extending his reach globally.
Recent Developments: Saverin’s extraordinary gains were derived from Metta’s outstanding stock performance as well as his strategic VC investments which have placed him on high echelons within Singapore’s rich list.
2. Goh Cheng Liang
Net Worth: $12.7 Billion
Global Ranking: #154
Industry: Manufacturing – Paint
In Brief: Goh Cheng Liang’s business life began on a small scale in post-war Singapore. His wealth has increased substantially from Nippon Paint, having founded Wuthelham Holdings and partnering with Nippon Paint. His strategic actions and investments have maintained him among the richest people of Singapore.
Trends in Net Worth: Goh’s monetary assets shrank to $12.7 billion from 14.3 billion dollars due to market swings as well as economic change.
3. Philip Ng
Net Worth: $7.2 Billion
Global Ranking: #373
Industry: Real Estate
In Brief: The younger brother Philip Ng together with Robert co-manages Far East Organization; it is an organization that has overseen the development of over 780 projects and construction of 55,000 private homes in Singapore since then under their leadership they have been recognized by multiple prestigious awards including 13 FIABCI World Prix d’Excellence awards.
Financial Situation: In future, Ng’s total worth can decline from seven point six billion dollars (2023) to seven point two billion dollars (2024), pointing out bidding challenges within the real estate sector overall.
Robert Ng
Net Worth: $7.1 Billion
Global Ranking: #385
Industry: Real Estate
Summary: Robert Ng is the eldest son of Ng Teng Fong and Phillip; they manage Far East Organization together. The largest private landlord and property developer in Singapore is Far East Organization, which has a wide range of assets including residential, commercial and hospitality properties. Also under his supervision are Sino Land and Sino Hotel Holdings, among other Hong Kong interests.
Trend in Net Worth: This slight decrease from $7.4bn in 2023 to $7.1bn in 2024 demonstrates the changing course of real estate investments.
Jason Chang
Net Worth: $6.6 Billion
Global Ranking: #417
Industry: Technology – Electronics
Summary: Jason Chang is a co-founder and chairman of Advanced Semiconductor Engineering (ASE) Group, which offers semiconductor assembly and testing services to clients globally. He also holds substantial stakes in Sino Horizon Holdings that currently owns several real estate companies across Greater China alongside his brother Richard.
Dynamics of Wealth Creation: By the end of 2024 his net wealth will have risen by US$ 2 billion to reach US$ 6 billion representing a rise in semiconductor technology demand as well as successful investments into real estate sectors.
Zhang Yong
Net Worth: $4.9 Billion
Global Ranking: #624
Industry: Food & Beverage – Restaurants
Overview: Haidilao, a hotpot restaurant chain with over 1,000 locations globally, was founded by Zhang Yong. His popularity began with his aim to make the hotpot eating experience better which led to significant expansion of Haidilao. In 2022 he resigned as CEO but remained as the chairman.
Wealth Changes: The decrease in Zhang’s wealth from $7.5 billion in 2023 to $4.9 billion in 2024 is largely due to global recession and evolving consumer preferences.
Jason Jiang
Net Worth: $3.7 Billion
Global Ranking: #871
Industry: Media & Entertainment – Advertising
Overview: For Everease Advertising Corporation and later Aiqi Advertising General Manager, Jason Jiang started his advertising career. Focus Media Advertising was established by him and it went public on Nasdaq in 2005. He remains financially strong despite delisting and subsequent relisting of the company on Shenzhen Stock Exchange.
Financial Status: This figure indicates that Jiang has an unchanging net worth of 3.7 billion dollars and this shows that he is still remarkably influential among advertisers today
Forrest Li
Net Worth: $3.6 Billion
Global Ranking: #896
Industry: Media & Entertainment – Gaming
Overview: Forrest Li established Sea Limited, a NYSE listed company which is the parent firm of Shopee an e-commerce platform and Garena that is a gaming corporation. By making significant contributions to the digital economy, Li became recognized in this field. His origin was modest and he was just a Motorola recruiter in Shanghai before taking off with Garena’s 2017 IPO.
Challenges: In 2024 Li’s net worth has fallen from $4.6 billion the previous year to $3.6 billion because of fluctuations in e-commerce and gaming sectors but he still holds his position among top 10 wealthiest people.
Kwek Leng Beng
Net Worth: $3.4 Billion
Global Ranking: #949
Industry: Diversified
Overview: Kwek Leng Beng, who started out as a law student in London, heads Hong Leong Group as its Chairman. Over 300 companies now constitute what used to be only Hong Leong group under his control. Being Singapore’s second largest property developer, City Developments Limited (CDL) has greatly benefited from Kwek Leng Beng as its executive chairman whose power in real estate market is considerable by all means; also running Hong Leong Finance Ltd., one could say that he is at the core of this country’s business.
Recent Developments: From 2022 to 2024, Kwek’s net worth has increased from $3.3 billion up to $3.4 billion signaling steady growth against challenging economic backdrop.
Kuok Khoon Hong
Net Worth: $2.9 Billion
Global Ranking: #1143
Industry: Manufacturing – Palm Oil
Overview: Kuok Khoon Hong started acquiring wealth through trading soft commodities at Kuok Oils and Grains before he established Wilmar International in 1991. As the Chairman and CEO of Wilmar International, Hong is responsible for the company’s development into one of Asia’s leading agribusiness groups that focuses on palm oil processing and other agricultural commodities. Being one of Singapore’s largest listed companies, this reflects considerable market presence.
Other Ventures: Beside Wilmar, Ko has stakes in Yanlord Land, Perennial Real Estate Holdings, and the Aviva Tower located in London as part of his diverse investments in real estate. This suggests that despite a small dip from $3.1 billion to $2.9 billion between 2022 and 2024 his financial position remains remarkable.
Conclusion:
The top 10 richest men in Singapore for 2024 cut across a wide array of industries such as technology, manufacturing, media firms among others. Their fortune comes about as a result of well-thought out business strategies at specific times and their personal entrepreneurial initiatives. These people are still powerful forces that shape Singaporean economy even when it is evolving into a global financial hub.
This discussion underscores how wealth creation operates within Singapore by examining some factors driving its success stories while focusing on its billionaires who have made the list for these years analyzed here or beyond these years. The fortunes of these billionaires will therefore change with time; an indication that the country itself will also transform with time alongside changes taking place across the globe in terms of economic conditions and market trends.
