Top 5 billionaires in Singapore

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1 Li Xiting

Li is a founder and chairman of Shenzhen Mindray Bio- Medical Electronics, a supplier of medical devices.

Mindray, founded in 1991, is headquartered in Shenzhen. Mindray’s chairman Xu Hang is also a billionaire.

Li holds an undergraduate degree from University of Science and Technology of China.

During the Covid-19 pandemic, Mindray donated $4.6 million worth of medical devices to hospitals in hard-hit areas like Wuhan and northern Italy.

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2.Eduardo Saverin

Eduardo Saverin cofounded Facebook with Harvard classmate Mark Zuckerberg in 2004.

Now a venture capitalist, he still derives most of his wealth from his small but valuable stake in Facebook.

In 2016, he launched venture fund B Capital, with BCG and Bain Capital veteran Raj Ganguly.

The fund has $1.4 billion in assets under management.

A Brazilian native, Saverin has been a Singapore resident since renouncing his U.S. citizenship in 2012 ahead of Facebook’s IPO.

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3.Goh Cheng Liang

Goh Cheng Liang gets the bulk of his wealth from a majority stake in Japan’s Nippon Paint Holdings, the world’s fourth- largest paint manufacturer.

Goh started making paints in a small factory in Singapore before he went on to partner with Japan’s Nippon Paint in 1962.

In 2021, his son, Hup Jin, who chairs Nippon Paint, completed a $12 billion stock and cash deal that gave him a majority stake in Nippon.

In March 2021, the company celebrated its 140th anniversary.

Nippon Paint has partnered with the University of Tokyo for research on new products that offer protection against Covid-19.

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4.Zhang Yong & Shu Ping

Zhang Yong is chairman of Sichuan hot pot chain Haidilao, which went public in September 2018. His wife Shu Ping is a cofounder and director.

Haidilao pulled in $3.8 billion in sales from nearly 1,300 restaurants, mostly in China but also in the U.S., Japan, South Korea and Singapore.

Haidilao is renowned for its spicy dishes and attentive customer service, including offering free manicures for waiting customers.

Zhang (pictured), who never finished high school, didn’t know how to prepare the typical Sichuan hotpot when he started the business.

Three friends, including one who became his wife, helped with seed money, but he ran the place and is still CEO.

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5.Forrest Li

Stanford grad Forrest Li founded and runs online gaming firm and e-commerce firm Sea, which also has interests in e- payments and financial services.

Li entered the ranks of Singapore’s richest, after listing Sea on the New York Stock Exchange in October 2017.

Backed by Tencent, which now has a 20% stake, Sea’s other investors include private equity firm General Atlantic and Robert Kuok’s son Kuok Khoon Hua.

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