{
  "id": 6060742,
  "title": "Singapore's 5 richest billionaires: Kwek Leng Beng narrows gap with No. 1 to $16.8B",
  "url": "https://urgent.news/2026/09/06/singapores-5-richest-billionaires-kwek-leng-beng-narrows-gap-with-no",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-06T23:20:50.000Z",
  "source": {
    "name": "VnExpress Business",
    "slug": "vnexpress-business",
    "url": "https://e.vnexpress.net/news/business/billionaires/singapore-s-5-richest-billionaires-kwek-leng-beng-narrows-gap-with-no-1-to-16-8b-5116378.html"
  },
  "original_language": "en",
  "account": "Five of Singapore's wealthiest individuals collectively saw their combined net worth drop by nearly 7% to $90.6 billion as of August 14, according to Forbes' annual Singapore rich list. The decline was largely driven by a massive $10.1 billion loss suffered by the richest man, Facebook co-founder Eduardo Saverin. This drop puts him just 16.8 billion dollars behind the family of Kwek Leng Beng, who maintain the second spot with a net worth of $16.1 billion.\n\nKwek's family has benefited from the sale of non-core assets by City Developments Limited (CDL), Singapore's biggest property developer. CDL recently posted a remarkable 230.7% increase in net profit to S$301.6 million for the first half of the year, as revenue surged 61.1% to S$2.72 billion. This positive trajectory has lifted CDL's shares and garnered favorable analyst outlooks.\n\nIn contrast, the Ng brothers, who control the Far East Organization, saw a modest 1.4% increase in their fortune to $14.3 billion. Meanwhile, the Lee family, known for Oversea-Chinese Banking Corporation (OCBC), witnessed the largest wealth gain this year, with their stake in the bank jumping 78% to $13.8 billion. This propelled them into fourth place on the ranking.",
  "summary": "Property tycoon Kwek Leng Beng remains the second-richest billionaire in Singapore this year, but his gap with the top ranker has nearly halved to US$16.8 billion.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}