Superapp Grab’s co-founder Anthony Tan made it as one of the new additions to Forbes’ Singapore 50 richest people this year. Alongside him was Binance founder and chief executive Zhao Changpeng, as well as founder of nanotech solutions Nanofilm Dr Shi Xu.

The richest man in Singapore this year is Li Xiting, founder of ventilator maker Shenzhen Mindray Bio-Medical Electronics.

Venture capitalist and co-founder of Facebook Eduardo Saverin came second on this year’s list, while paints tycoon Goh Cheng Liang came in third.

The combined net worth of Singapore’s 50 richest people climbed 25 per cent to S$282 billion (US$208 billion) this year, with 42 people’s individual net worth reaching more than S$1.4 billion (US$1 billion) or more.

One-fifth of those listed this year are tech tycoons. Other tech founders on the list include Sea Limited’s Forrest Li, Ye Gang, and David Chen.

The pandemic had impacted certain sectors including the food and beverage industry, and Hotpot chain Haidilao’s Zhang Yong and Shu Pink slipped down the rankings from first last year to fourth place. Their net worth dipped from US$19 billion to US$16 billion.

Forbes measures the entrants’ net worth based on stock prices and exchange rates. The list includes family fortunes and those shared among extended families.

Foreign citizens who reside in Singapore, as well as those who are not residents but have significant business or other ties to the Republic, can also be included in the list.

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Featured Image Credit: Financial Times, Forbes

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