Technology giant Meta co-founder Eduardo Saverin has retained the title of Singapore's richest person for the third consecutive year. City Developments Executive Chairman Kwek Leng Beng's family, meanwhile, climbed two spots to take second place on this year’s list.
American magazine Forbes released its “2025 Forbes Singapore Rich List”. The combined wealth of the 50 listed tycoons totals US$239 billion (RM1.01 trillion), a 23% increase from last year’s US$195 billion (RM824.66 billion), setting a new record. The minimum threshold to enter the list also rose to a new high, from US$870 million (RM3.679 billion) last year to US$1 billion (RM4.229 billion) this year.
Saverin, who has resided in Singapore since 2009, saw his net worth surge by US$14 billion (RM59.206 billion) over the past year, cementing his position at the top as Singapore’s richest with US$43 billion (RM181.848 billion).
Kwek Leng Beng is a prominent real estate magnate, and his Kwek family’s wealth grew by 24% to US$14.3 billion (RM60.475 billion), ranking them second, mainly due to the addition of new equity holdings.
Brothers Robert Ng and Philip Ng, who head the Far East Organization, dropped to third place with a combined wealth of US$14.1 billion (RM59.629 billion). Far East Organization is Singapore’s largest private landowner and property developer, and they also control Hong Kong’s Sino Group.
The heirs of the late “Paint King of Asia” Goh Cheng Liang entered the list for the first time and immediately ranked fourth, with a family fortune of US$13.1 billion (RM55.4 billion). Goh Cheng Liang passed away in mid-August this year at the age of 98; he was often among the top ranks of Singapore’s wealthy during his lifetime.
Li Xiting, co-founder and chairman of Shenzhen Mindray Medical, saw his net worth shrink slightly from US$13.4 billion (RM56.669 billion) last year to US$13 billion (RM51.977 billion), placing him fifth.
Unlike the global billionaire rankings, the “Forbes Singapore Rich List” also includes family wealth, such as the entire Kwek family, including Kwek Leng Beng and his cousins. The net worth of the tycoons is calculated based on share prices and exchange rates as of August 15, 2025. Valuations for private companies are based on valuations of similar listed companies.