SINGAPORE – Singapore’s tycoons saw their collective wealth remain flat at US$239 billion, unchanged from a year ago.
Forbes’ 2026 list of Singapore’s 50 richest noted that while 35 listees are wealthier than a year ago, tech-related fortunes declined.
Eduardo Saverin, co-founder of Meta Platforms, retained pole position for the fourth consecutive year, despite his net worth falling US$10.1 billion to US$32.9 billion.
Shares of Facebook parent Meta Platforms fell 25 per cent over the year, hit by a 14 per cent drop in second-quarter net profit despite revenue jumping 28 per cent, partly due to surging AI infrastructure costs.
Real estate magnate Kwek Leng Beng and his family remain the second-richest after adding US$1.8 billion to lift their fortune to US$16.1 billion. The family’s flagship City Developments has been divesting non-core assets over the past year while sharpening its focus on the residential and hospitality sectors.
Property brothers Robert and Philip Ng held on to third place, with an uptick in their combined wealth to US$14.3 billion, from US$14.1 billion in 2025.
The Lee family was the biggest gainer in both dollar and percentage terms, with its combined net worth rising 78 per cent to US$13.8 billion, placing it fourth on the list.
The family draws the bulk of its wealth from a stake in OCBC, whose shares nearly doubled over the past year, buoyed by the bank’s wealth management business.
Another notable gainer was Sheng Siong Group co-founder and chief executive Lim Hock Chee, who ranked 24th with a net worth of US$2.7 billion. Shares of Singapore’s second-largest supermarket chain by revenue surged 54 per cent amid its store expansion, boosting his family’s wealth.
Rounding out the top five was the Goh family of Nippon Paint Holdings, whose wealth rose to US$13.5 billion from US$13.1 billion last year.
Meanwhile, Sea’s three co-founders moved down the list as shares of the US-listed tech company plunged by nearly a third from a year ago.
The decline came amid intense competition from rivals such as TikTok Shop, which squeezed margins at its e-commerce arm, Shopee.
Sea chairman and chief executive Forrest Li ranked 10th with a net worth of US$7.7 billion, down from No. 6 in 2025 with US$11.2 billion.
Chief operating officer Gang Ye ranked 14th with US$4.3 billion (from No. 13, with US$6 billion), while Shopee chief product officer David Chen was 44th with US$1.35 billion (from No. 28, with US$2 billion).
Quek Leng Chye, the Singapore-based brother of Malaysian billionaire Quek Leng Chan, was the sole newcomer to the list, ranking 48th with a US$1.2 billion fortune.
A cousin of Kwek Leng Beng, Quek Leng Chye is the managing director of Hong Leong Holdings, a property development and investment arm of the Hong Leong Group conglomerate.
Returnees included the husband-and-wife pair Gordon and Celine Tang, who rejoined the list after a two-year absence following a 20 per cent rise in the shares of Suntec REIT, one of their key holdings.
The China-born property magnates ranked 49th with a combined net worth of US$1.1 billion.
Brothers Charles, Keith and Kelvin Wong, who own and run home-grown footwear and accessories brand Charles & Keith, returned to the list after a one-year absence. They rounded out the list in 50th place with a combined fortune of US$1 billion.
The minimum net worth to make the list is $1 billion, unchanged from 2025. The latest list is a snapshot of wealth, using stock prices and exchange rates at the close of markets on Aug 14, 2026.
