#140 Eduardo Saverin
Net Worth: US$14.6B
In 2004 Eduardo Saverin, who is currently based in Singapore, co-founded Facebook with Mark Zuckerberg. In 2012, the pair parted ways though Saverin continues to retain a small stake in Facebook which provides him with most of his wealth.
In 2016, Saverin launched a venture fund called B Capital with Raj Ganguly. This fund has since managed to raise SGD$766 million and they invest heavily in tech firms around the world.
Net Worth: US$13.3B
Robert and Phillip Ng, who are brothers, run Far East Organisation which is Singapore s largest private landlord and property developer. The company was founded by their father Ng Teng Fong.
Billionaire Boys Club: Meet Singapore's 31 wealthiest men – and 1 woman msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Singapore Property Dynasty’s China Deal Is a Cautionary Tale
Bloomberg 3/15/2021 Bloomberg News
(Bloomberg) When Singapore’s richest property family invested in a Chinese real estate group, the deal was touted as “game-changing” for its expansion in Asia’s largest economy. Almost a year later, it has instead become a cautionary tale for firms looking to invest in Chinese developers.
In a case of a dream turning into a burden, City Developments Ltd. last month revealed a S$1.78 billion ($1.3 billion) writedown on Chongqing-based Sincere Property Group that led the Singapore firm to suffer a record annual loss.
The impairment constituted almost all of CDL’s S$1.9 billion investment in Sincere, which more than doubled from its initial outlay as its partner’s finances deteriorated. Now CDL has had enough, saying it will no longer inject funds until the Chinese company returns to health. Cash-strapped Sincere has dragged their rift into the open af
Share
National Assembly passes 36 laws this year
Wed, 9 December 2020
The National Assembly (NA) has approved 36 laws this year which serve the interests and needs of the Kingdom and its people. Last year it approved only 32 laws, said secretary-general Leng Peng Long.
However, while welcoming the approvals, political analyst Em Sovannara said some of the laws had not been fully implemented.
Speaking on December 8, Peng Long said the 36 laws were proposed by the government for approval by the NA and that they met the needs of the Kingdom in light of the current situation.
He said some of the laws had been approved but had yet to be used, such as the State of Emergency Law.