Summit Chairman Aziz Khan 41st richest in Singapore: Forbes 2023 list

Muhammed Aziz Khan, a Bangladesh-born entrepreneur and chairman of the Summit Group, has been named the 41st richest man of Singapore in the Forbes' 2023 list.

According to Forbes website, his net worth is $1.12 billion, up from $1 billion in the preceding year with $1 billion net worth.

He was first named in the Forbes Singapore list in 2018 when his net worth was $910 million. After a brief decline in 2019, his net worth soared to $955 million and $990 million in 2020 and 2021 respectively.

Aziz Khan is the chairman of Summit Group, which is one of the leading private sector conglomerates of Bangladesh, having more than 20 businesses in power, ports, fibre optics and real estate sectors.

The combined wealth of tycoons on the 2023 Forbes list of Singapore's 50 Richest rose by 8% to US$177 billion from $164 billion last year, amid a slowing economy. 

Eduardo Saverin, cofounder of Meta Platforms (formerly Facebook) and a resident of the city-state for over a decade, is the new No. 1 with a net worth of $16 billion. The Brazilian native, the biggest gainer this year in dollar terms, added $6.4 billion as shares of Meta were up nearly 70% since fortunes were last measured.

Retaining the second spot are brothers Robert and Philip Ng of the Far East Organization with $14.8 billion, down slightly from $15.2 billion last year. Li Xiting, chairman of Shenzhen Mindray Bio-Medical Electronics, slipped to No. 3 after two years in the top spot as healthcare stocks took a hit on China's anti-corruption drive against the pharma sector. His net worth fell to $14 billion from $15.6 billion last year.