Wife of Sea billionaire founder Forrest Li to buy $31M mansion in Singapore

By Minh Hieu   April 23, 2024 | 03:33 pm PT
Wife of Sea billionaire founder Forrest Li to buy $31M mansion in Singapore
Sea billionaire founder Forrest Li and his wife Liqian Ma. Photo courtesy of the Stanford Asia Economic Forum
Liqian Ma, wife of billionaire Forrest Li, founder of the Southeast Asia’s largest internet company Sea, is set to acquire a US$31 million bungalow on Singapore’s Gallop Road, near the Botanic Gardens, Bloomberg reported.

The property, classified as a good class bungalow (GCB) in Singapore, spans 1,552 square meters, equating to nearly $20,000 per square meter, as indicated by documents filed by Ma this month.

GCBs are prestigious properties located in exclusive locations that must have a land area of at least 1,400 square meters, according to PropertyGuru, Southeast Asia's leading digital property marketplace. Presently, there are approximately 2,700 GCBs spread across the 39 zoned areas in Singapore.

China-born Li had previously acquired and refurbished a bungalow adjacent to the one Ma is purchasing, according to The Business Times.

This neighboring property occupies a 1,403-square-meter plot of land and was acquired by Li in 2019 for approximately $19 million.

Both bungalows are located in the Gallop Road/Woollerton Park GCB Area.

Li’s fortune stems from online gaming and e-commerce giant Sea, which he founded in 2009 as a game developer and publisher named Garena. The firm launched Shopee, Southeast Asia's largest e-commerce platform, in 2015.

In 2021, Li was ranked as Singapore's wealthiest individual in the Bloomberg Billionaires Index, boasting a net worth of $19.8 billion. However, he lost 80% of his wealth the following year in a market crash that led to over $1 trillion in losses among the world's 500 richest individuals.

His net worth is currently at $3.7 billion as of April 23, according to Forbes.

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