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Singapore has a new richest person

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Even in a global pandemic, the fortunes of some continue to rise and rise.

According to Bloomberg, Forrest Li, Sea Ltd's billionaire co-founder, chairman and chief executive officer - is Singapore's newest richest person.

His company, Sea, is already Southeast Asia's most valuable company and after a recent turn to fintech to further grow their offerings beyond gaming and e-commerce, they have been moving into digital-banking, lending, insurance, wealth management and other finance services after acquiring Indonesia’s PT Bank Kesejahteraan Ekonomi. 

Most of the company's success can however be traced to its mobile game, Free Fire, which has exceeded 1 Billion downloads, as well as the success of its e-commerce arm, Shopee which is the second-most downloaded shopping app on Android and iOS globally. 

As of now, Li, who was born in China and later became a Singapore citizen, is worth $19.2 Billion according to the Bloomberg Billionaires Index after Sea's American depositary receipts rose 61%. 

 

 

 

 


Written by
Poppy covers a wide range of topics at Billionaire, having spent the past 13 years at companies including Singapore Tatler, Her World Plus and Harpers Bazaar UK. She has a passion for fashion, jewellery and travel as well as an avaricious fascination with crime novels. Follow her at poppypskinner on Instagram. 

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