Wednesday, August 29, 2007

Forbes: Singapore's 40 Richest

In some news, it is reported that Singapore has among the fastest growth of millionaires in Asia.

And over the top end, there is the list of the top 40 of the richest people in Singapore. Done by Forbes, this research shows shareholdings in publicly traded companies as well as in private company filings.

Through the list, they both deal with a mixture of B2B & B2C - with businesses in property/ real estate, hotels, banking, palm oil, and even in school business making the top 10 list, which is lead by Ng Teng Fong with a net worth of USD 6.7 billion.

The total net worth of the top 40 is USD32 billion.

It is very interesting to note how a 'tiny' island, with not much natural resources is able to produce so many people in the rich list category. This continues to live on the forefathers ambition of the 'Nanyang Dream' who came here from China for greener pastures.

Though many started off here in Singapore, and with huge investments and business in the island, however, with limited population, some have expanded overseas, only to grow their business bigger.

Again, this shows that background is not a determining factor (or limiting factor) in being able to achieve one's current status/ ambitions.

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