Zhang Yong Tops the latest Forbes Singapore Rich List
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Hotpot-restaurant tycoon Zhang Yong has topped the latest Forbes Singapore Rich List.
Zhang, the founder of the Haidilao restaurant business, has an estimated net worth of US$13.8 billion (US$19.2 billion) – enough to push last year’s richest Singaporeans, property magnates Robert and Philip Ng into the second spot with their combined wealth of US$12.1 billion. This year is the first in a decade the Ngs, who own Far East Company, have not headed the rankings.
Zhang, a native of China, has become a naturalized Singaporean citizen and resident, who was previously featured among China’s richest, is now a naturalized Singapore citizen and resident.
Third place on this year’s list went to Eduardo Saverin, a founder and shareholder of Facebook, who lives in Singapore. His net worth was estimated at $10.6 billion, down $1.2 billion on last year.
Haidilao opened 130 new restaurants in the first half of this year, boosting sales by 59.3 percent to RMB 11.7 billion (US$1.66 billion).
Questions & Answers
Q.What is Zhang Yong's estimated net worth according to the latest Forbes Singapore Rich List?
What is Zhang Yong's estimated net worth according to the latest Forbes Singapore Rich List?
Zhang Yong's estimated net worth is US$13.8 billion. This figure was enough to place him at the top of the latest Forbes Singapore Rich List, surpassing last year's richest individuals.
Q.Who did Zhang Yong displace from the top spot on the Forbes Singapore Rich List this year?
Who did Zhang Yong displace from the top spot on the Forbes Singapore Rich List this year?
Zhang Yong displaced property magnates Robert and Philip Ng from the top spot. The Ngs, who own Far East Company, had headed the rankings for the past decade until this year.
Q.What was the sales increase for Haidilao in the first half of this year?
What was the sales increase for Haidilao in the first half of this year?
Haidilao boosted its sales by 59.3 percent in the first half of this year. This increase brought their total sales to RMB 11.7 billion, equivalent to US$1.66 billion during that period.
Q.How many new restaurants did Haidilao open in the first half of this year?
How many new restaurants did Haidilao open in the first half of this year?
Haidilao opened 130 new restaurants in the first half of this year. This expansion contributed to a significant increase in their sales and overall business performance.
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