Wealth of S’pore’s 50 richest rises 23%; Eduardo Saverin tops Forbes’ list for 3rd year

SINGAPORE - Singapore’s tycoons saw their collective wealth rise by over 23 per cent to US$239 billion (S$308 billion) from US$195 billion in 2024.

Forbes’ 2025 list of Singapore’s 50 richest attributed the boost to the Republic’s better-than-expected economic growth of 4.3 per cent in the first half of 2025, thanks to export front-loading amid tariff-related uncertainties.

Mr Eduardo Saverin, co-founder of Meta Platforms, is the biggest dollar gainer in 2025, retaining pole position for the third consecutive year with a net worth of US$43 billion.

The Singapore permanent resident’s wealth increased US$14 billion from 2024, driven by an artificial intelligence-fuelled advertising jump that caused Meta shares to surge. Real estate magnate Kwek Leng Beng and his family rose two spots to No. 2, with the family’s fortune climbing 24 per cent to US$14.3 billion on new information about the clan’s holdings.

Property brothers Robert and Philip Ng, who held second place in 2024, fell to third as their combined wealth declined to US$14.1 billion from US$14.4 billion, weighed down by the property downturn in Hong Kong.

The Goh family – heirs of paint tycoon Goh Cheng Liang, who died in August at age 98 – debuted in fourth place with US$13.1 billion. Shares of Nippon Paint Holdings, chaired by his son Goh Hup Jin, have risen nearly 30 per cent from a year ago after the company’s 2024 acquisition of US speciality chemicals maker AOC.

Rounding out the top five on the list is Mr Li Xiting, chairman of Shenzhen Mindray Bio-Medical Electronics, whose net worth fell slightly to US$13 billion from US$13.4 billion in 2024.

Three people tied to US-listed Sea saw a major boost in wealth, as the internet company they co-founded saw a 418.3 per cent increase in its second-quarter earnings to US$414.2 million, a jump from US$79.9 million a year earlier. Sea chairman and chief executive Forrest Li jumped six spots to No. 6 with US$11.2 billion. Its chief operating officer Gang Ye moved up to No. 13 with US$6 billion, while Mr David Chen, chief product officer of Shopee, surged 22 places to No. 28 with US$2 billion.

Two names returned to the list after a hiatus. Mr Teo Swee Ann, ranked 37th with US$1.5 billion, is the founder and CEO of Shanghai-listed Espressif Systems, and he was back after three years, following record profits posted by the chipmaker in 2024.

Mr Henry Ng and his siblings, ranked 50th with US$1 billion, control Pan-United and made a comeback after seven years, as shares of the concrete maker more than doubled due to its low-carbon products and AI-optimised operations.

The minimum net worth to make the list increased to a record US$1 billion from US$870 million in 2024. Two of the notable dropouts were Mr Saurabh Mittal, co-founder of real estate and financial services group Indiabulls, and the Wong brothers – Charles, Keith and Kelvin – of fashion label Charles & Keith.

The latest list is a snapshot of wealth using stock prices and exchange rates as at the market close on Aug 15, 2025.