Sea’s Forrest Li, Richest Individual In Singapore

Symbol: Sea

Forrest Li, the co-founder and CEO of Sea Staff, is now Singapore’s richest individual with a internet price of US$20.2 billion, consistent with the Bloomberg Billionaire Index. 

The Sea’s percentage costs rose 67 in keeping with cent this 12 months and that propelled Li to the entrance of the pack because the city-state’s richest individual. Previous this 12 months, the identify of the richest in Singapore belonged to Li Xiting, the billionaire who made a fortune from production ventilators. In Forbes’ score, the tech entrepreneur used to be ranked 5th. 

Sea owns considered one of Southeast Asia’s most well liked e-commerce platforms Shopee and is the area’s most precious corporate consistent with Nikkei Asia. Because of the instances that the pandemic has introduced upon the sector, extra folks have began to make use of virtual platforms to do their buying groceries. And matched with the broader adoption of virtual bills within the area, Sea has been ready to experience the waves of a burgeoning shift in client development thru their monetary products and services arm, SeaMoney.

The corporate began out as a gaming corporate in 2009 beneath the title Garena after which it introduced Shopee in 2015 and rebranded as Sea in 2017. Hailing from China, Forrest Li arrived in Singapore 15 years in the past and used to be in debt amounting to S$100,000. He may most effective come up with the money for to hire a room then however now, he sits at the board of administrators of the Financial Building Board and serves at the board of trustees on the Nationwide College of Singapore, consistent with Sea.

Forrest Li, a naturalised Singapore citizen, and the opposite co-founders of Sea: Gang Ye and David Chen, are billionaires and ranked among the highest 10 richest in Singapore in an inventory revealed by means of Forbes. All 3 founders proceed to guide Sea with Gang Ye as its leader working officer and David Chen as Shopee leader product officer.

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