SINGAPORE: A new report published by Forbes that details the wealthiest 40 Singaporeans has revealed that despite a tumultuous economy, which saw a slowdown in the last quarter, the country's wealthiest are continue to grow their worth. Singapore's 40 richest are now collectively worth $59.4 billion. That is an increase of 9 percent compared with the previous year, the list said. The top five richest in Singapore has remained largely unchanged in their rankings from last year's list. Robert Ng and Philip Ng, the sons of the late Far East Organization's founder, have retained their top ranking with an estimated net worth of $9.2 billion. There are eight newcomers to this year's Singapore's 40 Richest list, including a number of overseas-born wealthy individuals who have recently taken up residence in Singapore. Of the eight newcomers, five made their fortune in property. Among the new members on the list, 30-year-old Facebook co-founder, Eduardo Saverin, is in the 8th spot, with a net worth of $2.2 billion. The list has left average Singaporeans frustrated, demanding that the government implement better social policies to ensure their security is met. “We struggle on a daily basis and while our standard of living is high, it isn't where it should be with all this wealth,” said butcher Javad Hussein, a Pakistani immigrant who earned Singapore citizenship three years ago. He told Bikyamasr.com that “I can't really complain about the situation I am in, but when you see all that money among a few people, it is frustrating.” Others agreed with Hussein, but one schoolteacher said the issue is not with the massive wealth, but with what they do with their money. “I have no problem with rich people. It is common here in Singapore, but they have to have some kind of responsibility to the people they have earned their money from,” the teacher said. Singapore, despite a struggling GDP and fears that the country could face a recession, seems to not have bothered the wealthiest in the country.
