A new No. 1 on Singapore's rich list has perked up a sluggish year
. A naturalized Singapore citizen and resident, Zhang, who was featured previously among China’s richest, is the new number one this year with a net worth of $13.8 billion. His company is also increasingly global in its expansion., who had occupied the top spot every year this decade; they are now at No. 2 with $12.1 billion. The biggest dollar gainer this year is another property tycoon,, chairman of the Hong Leong Group. Kwek added $1.
The cutoff to make the top 50 increased marginally this year to $560 million. There were three dropoffs, including Ching Chiat Kwong, the former cop turned developer, who came to be known as the king of shoebox apartments. The debt-fueled expansion of his Oxley Holdings made investors wary, causing its shares to dip.
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