1 in 3 of Singapore’s wealthiest billionaires are not originally from Singapore

Insider Monkey recently unveiled its list of Singapore’s 30 wealthiest individuals, sourced from Forbes’ real-time billionaire data as of June 24, 2024. What’s striking is that 1 in 3 of Singapore’s wealthiest billionaires were not originally from Singapore.

Zhang Yong and his wife, Shu Ping, were both from China and now both naturalised Singapore citizens with net worth of $5.2 billion and $2.0 billion, respectively. Zhang Yong is the chairman and founder of the highly successful Haidilao hotpot chain, which operates 1,500 restaurants worldwide, including in Singapore. On the other hand, Shu Ping, is Haidilao’s co-founder and director of Haidilao International Holdings.

Kuok Khoon Hong, born in Johor, Malaysia, is the co-founder of Wilmar, a major player in the global palm oil industry. His journey to success has positioned him among Singapore’s wealthiest with a net worth of $2.7 billion. Sam Goi, born in Fuqing, China, is the owner of Tee Yih Jia Food Manufacturing, a key player in Singapore’s food industry, with a net worth of $2.1 billion.

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