Ng Teng Fong and family remains as the richest people in Singapore for the year 2008, with an estimated net worth of US$7 billion.
Their fortune rose by some $300 million this year.
Ng maintains his position for 2nd consecutive years after taking over the top rank from the late Khoo Teck Puat. Khoo Teck Puat’s family, who is in control of Goodwood Group of Hotels, is today ranked the country’s second richest with a fortune of $6.1 billion.
The real estate billionaire Ng, who is now 78, owns the property development company, Sino Group, which has its operation base in Hong Kong and China. Much of the company running now is handled by his son Robert Ng.
Ng Teng Fong also owns the Far East Organization which has to date built over 700 hotels, commercial malls, condominiums across the Singaporean Republic.
The country’s third richest goes to banker Wee Choo Yaw and family, who is the Chairman of the United Overseas Bank (UOB) Group. Other top ranked people in the rich list include Zhong Sheng Jian ($1.8 billion), Kuok Khoon Hong ($1.3 billion), Kwek Leng Beng ($1.2 billion), Peter Lim ($1.1 billion), Lee Seng Wee ($730 million), Tan Boy Tee ($720 million) and Briang Chang ($560 million).