According to Forbes, there are 1,011 billionaires in the world. And these titans have huge control over the global economy, from energy and steel to fashion and telecom. Read the full list of billionaires here>>>.
The nation’s ecnomy is improving and so too are the fortunes of its richest tycoons as their total wealth has jumped 20%.
Singapore is emerging from its deepest recession since the island became an independent nation in 1965.
Though the economy may shrink up to 6% this year, there are signs that the worst is over. GDP expanded in the second quarter for the first time in a year.
Exports and manufacturing were up in July, and property prices and sales are picking up. The country’s main stock index has jumped almost 90% since its March low.
All of this has meant a boost in the fortunes of the nation’s richest. The total net worth of Singapore’s top 40 is $39 billion, up 20% from last year’s $32 billion.
Ng Teng Fong is No. 1 again, worth $8 billion, $1 billion more than last year. Kuok Khoon Hong’s net worth is up $2.2 billion to $3.5 billion, thanks in part to a 70% jump in the stock price of palm oil firm Wilmar International.
View the list of rankings of Singapore’s 40 richest here>>>