Eduardo Saverin Tops Singapore's Richest List with $16 Billion Wealth

Eduardo Saverin, co-founder of Meta Platforms (formerly Facebook), has claimed the top position as Singapore's richest individual with a net worth of $16 billion. This significant gain in wealth is attributed to the remarkable performance of Meta's shares, which rose nearly 70% since the last wealth assessment, driven in part by the launch of Twitter competitor Threads.

The previous leader, Li Xiting, chairman of Shenzhen Mindray Bio-Medical Electronics, dropped to the third position due to challenges faced by the healthcare sector in China amid anti-corruption efforts.

Despite a slower economy, the total wealth of Singapore's 50 richest individuals increased by 8% to reach $177 billion. Real estate tycoons like Robert and Philip Ng and Kwek Leng Beng maintained their positions among the top wealth holders.

This year also saw the inclusion of new entrants, including entrepreneurs Liang Xinjun and David Xueling Li, who have made Singapore their base of operations. While some individuals saw declines in their fortunes, the majority experienced wealth growth, with several adding over $1 billion to their net worth.