1.Li Xiting
Li Xiting, founder of medical supplier Shenzhen Mindray Bio-Medical Electronics. Photo courtesy of the company |
Li Xiting, 74, is the chairman of medical supplier Shenzhen Mindray Bio-Medical Electronics.
Hailing from China, Li earned his degree from the University of Science and Technology of China and co-founded Mindray in 1991 with two partners in Shenzhen.
The firm went public on the New York Stock Exchange in 2016. Its report for the first quarter of this year shows that Li controls a 28% ownership stake via several onshore and offshore vehicles.
He previously ranked second on Forbes’ annual list of the world’s top billionaires earlier this year with a net worth of $12.8 billion as of March 7.
At the time, he trailed paint tycoon Goh Cheng Liang, who later passed away in August.
Li’s net worth stood at $11.6 billion on Dec. 26, down $1.2 billion from the earlier ranking.
2. Jason Chang
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Jason Chang, chairman of Taiwan’s Advanced Semiconductor Engineering. Photo courtesy of the company |
Jason Chang, 81, serves as the chairman of ASE Technology Holding.
Born in Shanghai, China, Chang studied electronic engineering at National Taiwan University before earning a master’s degree in industrial engineering from the Illinois Institute of Technology, according to Bloomberg.
Chang founded Advanced Semiconductor Engineering with his younger brother Richard Chang in 1984 and persuaded his mother, who was then a property development entrepreneur, to invest in the firm.
The company has since grown into a world-leading semiconductor assembly and testing services provider.
Chang and his brother are also key investors in commercial real estate developer Sino Horizon.
Since March, his net worth has increased by $2.5 billion to $9.1 billion while his ranking rose from sixth to second.
He is the only one aged over 80 among Singapore’s top five on the Forbes list.
3. Forrest Li
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Forrest Li, founder and chairman of Sea Limited. Photo courtesy of the Singapore National Olympic Council |
Forrest Li, 47, is a co-founder of Sea Limited, the internet giant behind Shopee, Southeast Asia’s largest e-commerce platform.
Originally from China, Li followed his wife to Singapore after completing his MBA at Stanford University and, in 2009, launched game developer and publisher Garena with two partners who had also moved to the city-state from China.
The company later branched into e-commerce with the launch of Shopee in 2015 before going public in New York as Sea Limited in 2017.
Li’s fortune once reached $19.8 billion in 2021 but plunged the following year due to a market crash, according to Business Insider.
Compared to March, Li maintained his spot as Singapore’s third-richest man, but his net worth fell $700 million to $7.9 billion. He is the only billionaire under 50 among the top five.
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