The Richest People In Singapore, And How They Make Their Money

While this year’s edition of Forbes’ ‘Singapore 50 Richest‘ List has yet to be unveiled, a quick look at the Singaporean and Singapore-based names in its ‘World’s Billionaires’ list reveals both familiar and new names making it into the upper ranks.

At the moment, real estate tycoons Robert and Philip Ng still remain at the top of the list – a position they have consistently maintained.

We visit those currently in the top 9 positions (there’s a three-way tie at the 9th position, and a two-way at the 8th), and found out more about each of them.

*Unless stated, the default currency is USD

12. Sam Goi, $2.2B

Image Credit: Forbes

Known as the Popiah King, Sam Goi (68) is the owner of Tee Yih Jia, reportedly the largest popiah skin producer in the world.

Starting off with a motor rewinding business that eventually failed, he diversified into the food industry by buying over popiah factory Tee Yih Jia – one that he initially bought as a favour to a friend.

Moving away from labour intensive methods of production, the factory was fully automated by 1982, helping the company’s productivity greatly. This also led to its revenue growing from S$300k to S$62.4 million between 1980 and 1999.

To sustain the business, Goh has expanded its product base to include new products for different markets, and is also a serial investor, having invested in F&B companies (Super Coffeemix, Tung Lok) and also those in other industries (water treatment, electronics components).

11. Peter Lim, $2.3B

Image Credit: Badminton Central

A former stockbroker, Peter Lim first worked as an accountant and did some tax consultancy before going full-time into stocks.

His relationship with Wilmar International Ltd. has been a long-standing one, with him restructuring his stake in the company with a $10 million investment in 2000. He cashed out in 2010 for $1.5 billion.

Currently, he is a private investor who has put his massive fortune into companies in various sectors.

From sports to medicine and property, some of the more well-known names in his portfolio include his controlling stake (82.3%) in Spanish football club Valencia CF, his stakes in British supercar maker McLaren Automotive, a 50% stake in Salford FC, and Singapore’s first women’s hospital Thomson Medical.

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