5 richest Singaporeans own $50B assets

Li Xiting, founder of medical supplier Shenzhen Mindray Bio-Medical Electronics

Li Xiting, founder of medical supplier Shenzhen Mindray Bio-Medical Electronics. Photo courtesy of the company

Li Xiting, 73, has a net worth of $15.7 billion, ranking119th richest person in the world.

He was born in China and graduated from the University of Science and Technology of China. He founded medical equipment manufacturer Mindray in Shenzhen 1991 with two partners and listed the company on the New York Stock

Mindray employs 17,000 individuals, with approximately a quarter dedicated to research and development. Its products are sold in over 190 countries.

Goh Cheng Liang, shareholder of Nippon Paint Holdings

Goh Cheng Liang, shareholder of Nippon Paint Holdings. Photo by Singapore Press/Lianhe Zaobao

Goh Cheng Liang, 97, has a net worth of $12.4 billion.

He owns the majority stake in Japan's Nippon Paint Holdings, the world's fourth-largest paint manufacturer by revenue.

In 1955, he established his first paint store in Singapore and by 1962 became the primary distributor in the area for Nippon Paint.

In 2021, his son, Hup Jin, who is the chairman of Nippon Paint, finalized a transaction involving stock and cash valued at $12 billion, securing him a majority ownership in the company.

Philip & Robert Ng, managers of property developer Far East Organization

Philip Ng, CEO and chairman of property developer Far East Organization. Photo courtesy of Alpha Singapore

Philip Ng, 65, and his brother Robert, 72, secured the third and fourth places in the list with a net worth of $7.2 billion and $7.1 billion, respectively.

They control Far East Organization, Singapore's largest private landlord and property developer. The group was founded by their father Ng Teng Fong.

Philip is the chairman and CEO and oversees the Singapore business while Robert manages the Hong Kong arm Sino Group along with Philip’s son Daryl.

Jason Chang, chairman of Taiwan's Advanced Semiconductor Engineering.

Jason Chang, chairman of Taiwan's Advanced Semiconductor Engineering. Photo courtesy of the company

Jason Chang, 79, has a net worth of $6.5 billion.

He chairs Taiwan's Advanced Semiconductor Engineering, the world-leading provider of independent semiconductor assembling and test manufacturing services.

He and his brother Richard are investors in commercial real estate developer Sino Horizon Holding.