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July 29, 2010
Singapore's GDP, which increased by 16 per cent in the first quarter, is
forecast to increase another 13 to 15 per cent this year. The Straits
Times Index has also risen this year.
With this impressive economy, the fortunes of Singapore's richest has
also seen a resurgence, with their total net worth of US$45.7 billion
up from last year's $39 billion.
According to a list compiled by Forbes Asia, 26 on last year's list increased their wealth, including hotel
tycoon and Malaysian Citizen Ong Beng Seng and his wife Christina Ong.
Together, they are worth a billion for the first time from their hotel
and retail empire.
New to the list is New Zealand born social entrepreneur Richard
Chandler, who debuts at no. 5 with US$3.4 billion.
Only seven on the list have seen their fortune decrease from last year,
including real estate tycoon Zhong Sheng Jian, whose net worth of
US$1.8 billion was 10 per cent less than last year's.
Forbes
calculated the public fortunes using share prices and exchange rates as
of July 14. It estimated the worth of privately held assets should they
go public.
Unlike its world listing of billionaires, this
includes numerous family fortunes shared by individuals with their
family, including children or grandchildren, as well as siblings.
Fortune held by extended family, such as the Kwek cousins, were split into separate entries.
» Singapore's 40 richest in 2009
» A look back: Singapore's 40 richest in 2008
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