forbes: singapore's 40 richest are now richer

in the latest rich list published by forbes asia, singapore's 40 richest are now collectively worth US$54.4 billion (S$65.5 billion).

this is up by 19% from 2010's US$45.7 billion despite a slowdown in the economy and a weak stock market.

at the top of the list is the family of the late mr ng teng fong with a combined net worth of US$8.9 billion, up by US$1.1 billion from last year and the rest of the top 10 are:

2. the late mr khoo teck puat's family US$6.7 billion
3. mr wee cho yaw US$4.2 billion
4. mr richard chandler US$4 billion
5. mr kwee liong keng and brothers US$3.9 billion
6. mr kuok khoon hong US$3.5 billion
7. mr ong beng seng and ms christina ong US$1.9 BILLION
8. mr peter lim US$1.8 billion
9. mr kwek leng beng US$1.7 billion
10. mr lee seng wee US$1.4 billion.

my comments:

anyone wishing to dispute the age old saying that the rich get richer will have to go against the riches of singapore's richest people (and all over the globe).

and at the other extreme end, there will be the masses of people who will live in poverty and it doesn't matter where they are, be it in mature economies or in the third world countries. having said this, we have a tool in financial planning that may not guarantee riches but will go a long way to prepare individuals and families to attain financial independence.

after 14 years in the financial industry, i do not know of anyone who has regretted executing a financial plan.