The Billionaires Who Found a New Home in Singapore Reach One-Third of its Wealthiest Individuals

Singapore boasts a significant number of billionaires, with one-third of its wealthiest individuals originally hailing from other countries. Let’s explore the origins of these influential figures.

Li Xiting, originally from Anhui, China, moved to Singapore and obtained citizenship in 2018. He is currently the wealthiest billionaire in Singapore, with a net worth of $15.1 billion. Li co-founded Shenzhen Mindray Bio-Medical Electronics, a leading medical devices company based in Shenzhen.

Zhang Yong and his wife Shu Ping, both from China, are now naturalized Singapore citizens with net worths of $5.2 billion and $2.0 billion, respectively. Zhang Yong is the chairman and founder of the successful Haidilao hotpot chain, which operates 1,500 restaurants worldwide, including in Singapore. Shu Ping co-founded Haidilao and serves as a director of Haidilao International Holdings.

Forrest Li, also from China, co-founded Sea, a prominent e-commerce company in Southeast Asia. He has a net worth of $4.7 billion. His colleague Gang Ye, who moved from China to Singapore in the 1990s, co-founded Sea with him and currently serves as its CEO. Gang Ye, now a naturalized Singapore citizen, has a net worth of $3.0 billion.

Kuok Khoon Hong, born in Johor, Malaysia, is the co-founder of Wilmar, a significant player in the global palm oil industry. His success has positioned him among Singapore’s wealthiest, with a net worth of $2.7 billion.

Liang Xinjun, originally from Taizhou, Zhejiang, China, served as the vice chairman and CEO of Fosun International before becoming one of Singapore’s wealthiest individuals with a net worth of $2.4 billion.

Sam Goi, born in Fuqing, China, owns Tee Yih Jia Food Manufacturing, a major entity in Singapore’s food industry, and has a net worth of $2.1 billion.

Oei Hong Leong, born in Indonesia and raised in a prominent family, has accumulated a net worth of $1.9 billion through investments in corporate bonds and real estate.

Zhao Tao, originally from China, chairs Shandong Buchang Pharmaceuticals, a leader in traditional Chinese medicine, with a net worth of $1.8 billion.

These billionaires, from diverse backgrounds and industries, have not only amassed substantial wealth but have also made significant contributions to Singapore’s economy, showcasing the city-state’s appeal as a hub for global talent and entrepreneurship.

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