The 12 Richest People In Singapore Right Now, And How They Make Their Money

1. Robert & Philip Ng, $8.7B

Robert (L) and Philip (R) Ng

Brothers Robert (65) and Philip (58) Ng are the sons of the late Ng Teng Fong, Singaporean real estate mogul and founder of the Far East Group and Sino Group.

Robert Ng is currently the chairman of the Sino Group, one of the leading property companies in Hong Kong.

The Group’s core business is in developing properties for sales and investment purposes, and also invests in hotel development and management. According to its website, the Group has over 10,000 employees under its wing.

Younger brother Philip Ng is in charge of a name Singaporeans might be more familiar with – Sino Group’s sister company Far East Organization.

One of the largest private property developers in Singapore, there are over 770 Far East developments to date, including 53,000 (or one in six) private homes in Singapore.

Fun fact: Yeo Hiap Seng Limited, best known for its packet drinks, is a listed entity under Far East Organization.

 

Many Names From Real Estate

Looking through the list, there’s a striking similarity among a good number of them – many are dealing in real estate. Many also tend to be older Chinese men.

While there many are now finding their fortunes in tech and e-commerce (among the top of the list of the richest people in the world are Bill Gates, Mark Zuckerberg, Jeff Bezos) around the world, the case in Singapore still seems like real estate is the goldmine to be tapped.

Did some of the names surprise you, and who do you think will rise up the list in the coming months or years? Let us know!

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