From global tech to traditional medicine, non-native billionaires are reshaping Singapore’s economic landscape.
SINGAPORE: According to Insider Monkey’s recent list of Singapore’s 30 wealthiest individuals, compiled from Forbes’ real-time billionaire data as of June 24, 2024, one in three of Singapore’s top billionaires were not originally from the city-state. These individuals, now naturalised citizens, have leveraged their global expertise to make significant contributions to Singapore’s economy.
Top Naturalised Billionaires in Singapore
Li Xiting ($15.1 billion):
Born in Anhui, China, Li co-founded Shenzhen Mindray Bio-Medical Electronics, a leader in medical devices. Now Singapore’s wealthiest person, he became a citizen in 2018.
Zhang Yong and Shu Ping ($5.2 billion, $2.0 billion):
Founders of the global Haidilao hotpot chain, Zhang and Shu hail from China and have built a culinary empire spanning 1,500 restaurants worldwide.
Forrest Li ($4.7 billion):
A co-founder of e-commerce giant Sea, Li has played a pivotal role in Southeast Asia’s tech ecosystem.
Gang Ye ($3.0 billion):
Also a Sea co-founder, Ye has risen from his roots in China to become the company’s CEO and a key figure in Singapore’s digital economy.
Kuok Khoon Hong ($2.7 billion):
Originally from Johor, Malaysia, Kuok co-founded Wilmar International, a dominant force in the global palm oil industry.
Liang Xinjun ($2.4 billion):
Former CEO of Fosun International, Liang hails from Taizhou, Zhejiang, and has diversified his portfolio after relocating to Singapore.
Sam Goi ($2.1 billion):
Known as Singapore’s “Popiah King,” Goi built his wealth through Tee Yih Jia Food Manufacturing, a major player in the food industry.
Oei Hong Leong ($1.9 billion):
Born in Indonesia, Oei has focused his investments on real estate and corporate bonds.
Zhao Tao ($1.8 billion):
Chairman of Shandong Buchang Pharmaceuticals, Zhao has become a leader in traditional Chinese medicine.
Broader Impact
These billionaires, representing diverse industries from tech to pharmaceuticals, have brought global perspectives and investments to Singapore, boosting its economy and solidifying its reputation as a hub for innovation and entrepreneurship.
Full List of Singapore’s Wealthiest Individuals (as of June 24, 2024):
Li Xiting – $15.1 billion
Goh Cheng Liang – $11.2 billion
Jason Chang – $7.0 billion
Philip Ng – $7 billion
… (full list continues)
