9-9-2023 (SINGAPORE) Eduardo Saverin, the co-founder of tech behemoth Meta, formerly known as Facebook, has secured the title of the richest person in Singapore, amassing an astounding net worth of US$16 billion (S$21.8 billion). He is also recognized as the “biggest gainer” on Forbes’ Singapore’s 50 Richest list for the current year, emerging as the frontrunner.
Saverin has been a resident of Singapore, often referred to as the Little Red Dot, for more than a decade. This 41-year-old entrepreneur and angel investor outpaced last year’s wealthiest individual, biomedical mogul Li Xiting, who has now descended to the third position.
Meta Co-Founder Accumulates S$21.8 Billion in Net Worth Forbes reports that Eduardo Saverin, the 41-year-old co-founder of Meta, holds the distinction of being Singapore’s wealthiest individual in 2023, with a net worth of US$16 billion (S$21.8 billion). This remarkable achievement is primarily attributed to Meta’s stocks surging by nearly 70%, resulting in Saverin gaining a staggering US$6.4 billion (S$8.73 billion) in shares during this period. Consequently, he is acclaimed as this year’s most significant gainer in terms of financial wealth.
Eduardo Saverin’s Relocation to Singapore in 2009 As reported by CNN, Saverin made the move to Singapore from the United States (US) over a decade ago, precisely in 2009. Subsequently, in 2012, he renounced his US citizenship and has since been a resident of the Lion City. This relocation was ostensibly driven by practical considerations, as his spokesperson at the time informed CNN of Saverin’s intentions to invest in companies seeking entry into Asian markets. The spokesperson explained, “Accordingly, it made the most sense for him to use Singapore as a home base.”
Ng Brothers of Far East Organisation Secure Second Place, Li Xiting Falls to Third Eduardo Saverin’s ascent to the top of the list displaced Li Xiting, the biomedical magnate who held the title of Singapore’s richest individual in 2021 and 2022. Li’s current net worth now stands at US$14 billion (S$19.11 billion), marking a decline of US$1.6 billion (S$2.18 billion) compared to the previous year. Consequently, Li has now been positioned as the third richest individual in the country.
The second spot on the list is occupied by the Ng brothers from the Far East Organisation, Robert and Philip Ng, who together command a combined net worth of US$14.8 billion (S$20.2 billion). While this represents a reduction of US$400 million (S$545 million) from 2022, the property tycoons have successfully maintained their second-place ranking on the list of billionaires.
