Family Office & Billionaire Report - Empowering Family Dynasties

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SINGAPORE — The billionaires club in Singapore expanded by five from last year to 26 this year, according to the Forbes Singapore rich list.
Topping the list are property magnates Robert and Philip Ng, the brothers who own hotel and mall conglomerate Far East Organization and Sino Land. They added US$2.2 billion (S$2.7 billion) to their wealth amid an expansion of their property empire to Australia, and their net worth is now at US$12.8 billion (S$15.8 billion), said Forbes Asia in a statement released today (July 24).
Mr Kwek Leng Beng, Chairman of City Developments, and his family remained at No 2 with a net worth of US$7.8 billion, up from the US$7.1 billion last year. The Khoo family of Goodwood Group of Hotels, added US$300 million to their wealth and retained third spot on the list with US$7 billion.
Other big gainers on the list include reclusive paint tycoon Goh Cheng Liang of the Wuthelam Group, with his fortune jumping US$1.1 billion in the past 11 months to put him at 7th in the list. Facebook co-founder Eduardo Saverin also saw his wealth grow by close to US$1.6 billion to US$4.2 billion due to the climb in value of shares in the social networking company.
The list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and other sources. Unlike the Forbes billionaire rankings, this list includes family fortunes such as those shared among extended families. Net worths are based on stock prices and exchange rates as of the close of markets on July 11, Forbes Asia stated.
Below are the top 10 richest in Singapore:
• Robert and Philip Ng: US$12.8 billion (S$15.8 billion)
• Kwek Leng Beng: US$7.8 billion (S$9.7 billion)
• Khoo family: US$7 billion (S$8.7 billion)
• Wee Cho Yaw: US$6.2 billion (S$7.7 billion)
• Kwee brothers: US$6 billion (S$7.4 billion)
• Eduardo Saverin: US$4.2 billion (S$5.2 billion)
• Goh Cheng Liang: US$3.2 billion (S$4 billion)
• Richard Chandler: US$3 billion (S$3.7 billion)
• Peter Lim: US$2.5 billion (S$3.1 billion)
• Kuok Khoon Hong: US$2.4 billion (S$3 billion) CHANNEL NEWSASIA

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