Singapore has a new richest person

Growth path: A signage of Shopee, the e-commerce arm of Sea, is seen in Singapore. Sea has been turning to fintech for further growth beyond gaming and e-commerce, while also expanding beyond the region. — Reuters

SINGAPORE: Forrest Li, Sea Ltd’s billionaire co-founder, chairman and chief executive officer, has become Singapore’s richest person as shares of his company surged.

Li, who was born in China and later became a Singapore citizen, is now worth US$19.8bil (RM82.4bil), according to the Bloomberg Billionaires Index, after Sea’s American depositary receipts rose 67% this year.