Singapore billionaires' club grows to 26, OG's Tay family joins the ranks

The number of billionaires in Singapore has risen to 26 from 21 a year ago, while the total wealth of the country's richest has also shot up, according to the latest data released by Forbes magazine on Thursday. -- PHOTO: AFP
The number of billionaires in Singapore has risen to 26 from 21 a year ago, while the total wealth of the country's richest has also shot up, according to the latest data released by Forbes magazine on Thursday. -- PHOTO: AFP

SINGAPORE - The number of billionaires in Singapore has risen to 26 from 21 a year ago, while the total wealth of the country's richest has also shot up, according to the latest data released by Forbes magazine on Thursday.

Property tycoons Robert and Philip Ng of Far East Organization continued to top Singapore's rich list, adding US$2.2 billion (S$2.7 billion) to their net wealth to bring it to US$12.8 billion.

They were followed by City Developments chief Kwek Leng Beng and his family, with a net worth of US$7.8 billion; the Khoo family of the Goodwood Group of Hotels, with US$7 billion; and banker Wee Cho Yaw, with US$6.2 billion.

The Tay family of the OG department store chain also joined the billionaires' ranks, debuting at 25th spot with US$1.1 billion.

Forbes said the total wealth of Singapore's richest 50 rose to US$96.9 billion this year, from US$80 billion last year.

Including the Tays, there were seven newcomers to the top 50 rich list. The other six were Soilbuild Group's Lim Chap Huat, Pacific Radiance's Pang Yoke Min, Keck Seng Group's Ho Kian Guan, Straits Trading's Chew Gek Khim, Oxley Holdings' Eric Low and Prima Group's Primus Cheng.

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