Singapore’s Richest Get Richer — But One Tech Giant Lost US$10.1 Billion

Singapore’s wealthiest are holding onto their fortunes even as the technology sector takes a hit, according to Forbes Asia’s 2026 Singapore’s 50 Richest list.

The combined wealth of Singapore’s 50 richest people and families remained at US$239 billion (about S$303.5 billion), unchanged from last year. Yet beneath that headline figure, the fortunes of individual billionaires shifted sharply, with banking, property and retail winners offsetting major losses among tech tycoons.

The latest ranking was published on September 3, with wealth calculated using stock prices and exchange rates as of August 14, 2026. The minimum fortune required to make the list remained at US$1 billion.

Eduardo Saverin remains Singapore’s richest

Meta co-founder and longtime Singapore resident Eduardo Saverin retained the No. 1 position for the fourth consecutive year.

But his lead came despite a dramatic decline in his estimated fortune. Forbes puts Saverin’s wealth at US$32.9 billion, down US$10.1 billion from the previous year.

The decline was largely linked to a roughly 25% fall in Meta Platforms shares during the period, while the company faced higher costs associated with its massive artificial-intelligence infrastructure spending.

Despite losing billions on paper, Saverin remains comfortably ahead of Singapore’s other billionaires.

Property families dominate the top three

Kwek Leng Beng and family remained in second place, with their combined fortune increasing by US$1.8 billion to US$16.1 billion.

The family's wealth is closely associated with City Developments, which has been selling non-core assets while sharpening its focus on residential and hospitality businesses.

In third place were Robert and Philip Ng, whose combined wealth rose to US$14.3 billion. Their family empire includes Far East Organization and listed developer Far East Orchard.

But the biggest winner of the year was not a property dynasty.

OCBC-linked Lee family jumps 78%

The Lee family, whose wealth is largely tied to a stake in Oversea-Chinese Banking Corp. (OCBC), recorded the largest increase on the list.

Their combined fortune surged 78% to US$13.8 billion, moving them into fourth place.

The surge was helped by OCBC shares, which nearly doubled over the year. Forbes also pointed to the bank's expanding wealth-management business, which benefited from Singapore's position as a regional financial safe haven.

OCBC has also been expanding its regional wealth-management operations, including its acquisition of HSBC's wealth-management and retail operations in Indonesia and investments in digital and AI-enabled wealth services.

Tech billionaires take a major hit

While banking and property fortunes climbed, technology wealth moved in the opposite direction.

The three Singapore-based co-founders of Sea Limited — Forrest Li, Gang Ye and David Chen — collectively lost around US$5.9 billion as Sea shares fell by nearly one-third over the year.

Forrest Li fell to No. 10 with US$7.7 billion, while Gang Ye ranked 14th with US$4.3 billion and David Chen ranked 44th with US$1.35 billion.

The pressure came as Sea's e-commerce business Shopee faced tougher competition, including from TikTok Shop, squeezing margins.

Singapore’s billionaire landscape is changing

The ranking highlights a striking divide in Singapore's wealth economy.

Banking, property and domestic retail performed strongly, while some technology fortunes suffered from falling share prices and rising competition.

Thirty-five of the 50 people or families on the list were actually wealthier than they were a year earlier, but the enormous losses among several technology billionaires prevented the group's combined fortune from increasing.

Retail also produced a notable winner. Lim Hock Chee, co-founder and CEO of Sheng Siong Group, saw his family's wealth rise to US$2.7 billion, helped by a 54% increase in the supermarket operator's shares. He ranked 24th.

One new billionaire — and three familiar names return

The 2026 list also saw changes at the bottom.

Quek Leng Chye, managing director of Hong Leong Holdings and a Singapore-based brother of Malaysian billionaire Quek Leng Chan, was the sole newcomer. He entered at No. 48 with US$1.2 billion.

Two groups returned to the ranking:

• Gordon and Celine Tang — No. 49, US$1.1 billion
• Charles, Keith and Kelvin Wong, owners of Charles & Keith — No. 50, US$1 billion.

The Tangs returned after a two-year absence, while the Wong brothers came back after missing last year's list.

Singapore’s top 10 richest in 2026

The figures are Forbes estimates, not cash holdings, and can change as public-market valuations move.

The bigger picture

Singapore's 2026 rich list tells a story that goes beyond individual billionaires: wealth is shifting between sectors.

The country's strong economic performance, financial-sector strength and property market helped many fortunes grow, while the enormous capital demands and competitive pressures surrounding AI and technology weighed on others. Singapore's economy itself expanded 6.1% in the first half of 2026, with electronics and precision engineering benefiting from AI-related demand.

And despite billions changing hands on paper, the biggest surprise may be this: Singapore's 50 richest collectively ended the year no richer than they started it.

WWC ONE MEDIA J.M.D