Facebook co-founder Eduardo Saverin is Singapore's 8th richest
While most analysts expect the market to remain weak at least in the short term, Ramesh S. Damani, member, BSE, feels that the market may rally 8-10 per cent from the current levels. “Markets are likely to sustain the support levels. I would prefer to rem
Facebook co-founder Eduardo Saverin, who renounced his US citizenship earlier this year, made his debut on a Singapore rich list published by Forbes Magazine.
Brazilian-born Saverin, 30, is No.8 on the list with an estimated net worth of $2.2 billion.
Saverin has been living in Singapore since 2009 but only gave up his U.S. citizenship ahead of Facebook's initial public offering.
The Southeast Asian city-state, which has no capital gains tax, is the main Asian centre for private banking and has long been a magnet for wealthy people from around the region.
Other non-Singapore-born people on the list include New Zealand native Richard Chandler, ranked No.5 with an estimated wealth of $2.9 billion, and China-born founder of property developer Yanlord Land Zhong Sheng Jian, at No.12 with $1.4 billion.
Indian telecom magnate BK Modi, who became a Singapore citizen earlier this year, is No.23 with an estimated fortune of $755 million.
copyright @ Thomson-Reuters 2012
