Remember Eduardo Saverin? He sued Facebook and settled out of court for a 5 per cent stake in the company. The co-founder of Facebook, is now the second richest man in Singapore, according to a Wealth-X list of the top 10 Singapore-based billionaires.

Saverin has lived in Singapore since 2009, and renounced his American citizenship, a move speculated to have been an attempt to reduce capital gains tax, ahead of Facebook’s IPO filing in 2012. He has a net worth of about $4.2 billions now, nearly 15 per cent of the combined wealth of the 10 individuals on the list.

The richest man is Philip Ng, CEO of Far East Organisation, Singapore’s largest private property developer with 750 properties in the residential, hospitality, retail, commercial and industrial sectors. His estimated net worth is $5.2 billion.

The third slot is taken by New Zealand-born businessman Richard Fred Chandler, with a reputation for buying struggling companies and successfully rebuilding them.

comment COMMENT NOW