Wealth of Singapore’s 50 richest diverges as OCBC, Sheng Siong boom offsets tech slide
The aggregate net worth of the city-state’s richest stays flat at US$239 billion
Singapore's 50 richest individuals saw no change in their aggregate net worth of US$239 billion, according to Forbes Singapore's 50 Richest list released on September 3, 2026. The biggest winner was the Lee family from OCBC, whose wealth surged 78% to US$13.8 billion, placing them at fourth on the list. OCBC's shares nearly doubled over the past year as the bank capitalized on Singapore's reputation as a regional safe haven and the growth of its wealth management business.
The supermarket chain Sheng Siong also experienced a boom, with CEO Lim Hock Chee's family wealth rising to US$2.7 billion, a 54% increase as the company expanded its physical presence in residential estates. Real estate giants like City Developments Ltd (CDL) and Far East Organization also contributed to the stability of the rankings.
However, the net worth of Facebook co-founder Eduardo Saverin and the founders of technology company Sea suffered a combined decline of nearly US$16 billion, affecting their positions in the list. Despite the tech sector's downturn, Singapore's economy grew by 6.1% in the first half of 2026, driven by manufacturing growth in electronics and precision engineering fueled by rising demand for artificial intelligence technologies.
Despite the overall stability, only one new entrant, Quek Leng Chye, made it to the list with a fortune of US$1.2 billion, while the husband-and-wife duo Gordon and Celine Tang and the Wong brothers returned to the top 50 after a two-year and one-year absence, respectively.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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