Friday, January 21, 2022

Singapore’s pandemic billionaires named

Ventilator tycoon Li Xiting tops the list of the 50 wealthiest people in the republic.

Other News

Ventilator tycoon Li Xiting has been named as the richest person in Singapore, topping a Forbes list of the 50 wealthiest people in the city-state whose net worth soared throughout the Covid-19 pandemic which ravaged global economies.

Li’s company Shenzhen Mindray Bio-Medical Electronics saw its shares rise 19% thanks to a global demand for ventilators. He added US$5.2 billion to his net worth over the past year.

The Forbes’ Singapore List also welcomed Anthony Tan, the son of Malaysia’s owner of Tan Chong Motor Holdings, who co-founded the Grab ride-hailing which went on to become a leading delivery app during the pandemic.

The 50 individuals on the list have a combined net worth of US$208 billion.

The list reflects the sharp growth of tech-related firms as well as those involved in online shopping facilities, including the three co-founders of Sea which owns the Shopee app – Forrest Li, Ye Gang and David Chen – all of whom more than doubled their net worth since a year ago.

Follow us on Telegram for the latest updates:

Subscribe to our newsletter

To be updated with all the latest news and analyses.

Related Articles