All the details on the three new additions—David Chen, Shi Xu and Yao Hsiao Tung—from Singapore to Forbes prestigious list of the world’s richest this year
Despite the pandemic, 2020 was an incredible year for the wealthiest in the world. In fact, there was a five trillion dollar surge in wealth and an addition of 493 new billionaires into Forbes’ 35th annual list of the world’s wealthiest.
Out of these 493 new additions, we have three Singaporeans who have been placed on this list this round. These Singaporeans are David Chen, Shi Xu and Yao Hsiao Tung.
We take a look at these individuals and how they have worked their way into this prestigious list.
(Related: How Billionaire Li Xiting Debuted at No. 2 on Forbes Singapore’s 50 Richest List 2020)
1. David Chen
David Chen is the cofounder of Singapore based gaming and e-commerce firm, Sea. The company is best known for its wildly popular mobile game, Free Fire, which is a battle royale game. It was also the most downloaded mobile game globally in 2019.
Chen founded Sea in 2009 with Forrest Li and Gang Ye who are both also billionaires.
Currently, Chen is the Chief Product Officer of Shopee, the e-commerce unit of the NYSE-listed company. He has also worked heavily with PSA Corp which is a Temasek-owned port operator as a computer engineer.
Chen ranks 1299 on Forbes’ 35th annual list of the world’s wealthiest with a net worth of $2.4 billion dollars.