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by Ellen Joy Anastacio
Singapore's wealthiest are feeling the pinch of rising inflation and decelerating gross domestic product. Fortunes made from real estate have dropped significantly, with tycoons like Chua Thian Poh seeing their net worths fall by 40%
Still on top of the list compiled by Forbes magazine, however, is last year's richest man, Ng Teng Fong, who added $300 million to his fortune this year. Singapore's newest billionaires are Kuok Khoon Hong, co-founder of palm oil giant Wilmar International, as well as investor Peter Lim.
Foreign citizens who made their fortune in the country are also listed, including newcomer British citizen Sunny George Verghese, head of Olam International. Other additions to this year's list are 24th place Koh Wee Meng of the budget hotel Fragrance Group and Chemoil Robert Chandran's widow Vivian Chandran, who inherited his stakes.
Fashion entrepreneur turned hotelier Christina Ong dropped out from the list due to the drop in value of her Mulberry shares.
Forbes says it calculated the public fortunes using share prices and exchange rates as of August 7.
THE FULL LIST
| Rank |
Name |
Net worth (in US$mil) |
Age |
| 1 |
Ng Teng Fong & family |
7,000 |
80 |
| 2 |
Khoo Family |
6,100 |
NA |
| 3 |
Wee Cho Yaw & family |
3,600 |
79 |
| 4 |
Zhong Sheng Jian |
1,800 |
49 |
| 5 |
Kuok Khoon Hong |
1,300 |
59 |
| 6 |
Kwek Leng Beng & family |
1,200 |
67 |
| 7 |
Peter Lim |
1,100 |
55 |
| 8 |
Lee Seng Wee |
730 |
77 |
| 9 |
Tan Boy Tee |
720 |
59 |
| 10 |
Brian Chang |
560 |
65 |
| 11 |
Ho Sim Guan |
500 |
82 |
| 12 |
Chew Hua Seng |
460 |
54 |
| 13 |
Kwek Leng Kee |
430 |
54 |
| 14 |
Chang Yun Chung |
360 |
90 |
| 15 |
Ow Chio Kiat & family |
340 |
63 |
| 16 |
Lee Kian Soo & family |
330 |
63 |
| 17 |
Olivia Lum |
325 |
47 |
| 18 |
Ng Chwee Cheng & family |
285 |
76 |
| 19 |
Ho Kwon Ping |
280 |
56 |
| 20 |
Chua Thian Poh |
260 |
60 |
| 21 |
Cheng Wai Keung & family |
255 |
57 |
| 22 |
Simon Cheong |
245 |
51 |
| 23 |
Vivian Chandran |
240 |
NA |
| 24 |
Koh Wee Meng |
230 |
45 |
| 25 |
Kwek Leng Peck & family |
220 |
52 |
| 26 |
Loo Choon Yong |
215 |
59 |
| 27 |
Oei Hong Leong |
210 |
60 |
| 28 |
Yao Hsiao Tung |
200 |
67 |
| 29 |
Victor Sassoon |
195 |
50 |
| 30 |
Kartar Singh Thakral |
190 |
74 |
| 31 |
John Chuang & family |
185 |
60 |
| 32 |
Lee Seng Tee |
180 |
NA |
| 33 |
Goh Lik Tuan |
175 |
56 |
| 34 |
Wong Ngit Liong |
170 |
66 |
| 35 |
Henry Ng & family |
160 |
50 |
| 36 |
Margaret Lien |
140 |
66 |
| 37 |
Wong Fong Fui |
135 |
65 |
| 38 |
Mustaq Ahmad |
130 |
57 |
| 39 |
Sunny George Verghese |
125 |
48 |
| 40 |
David Lam |
120 |
56 |
Source: Forbes.com
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