Petrol prices in Singapore climb amid oil spike; Elon Musk tops Forbes 2026 billionaires list with record wealth: Singapore live news

Global billionaire wealth reached a record high in 2026, led by Elon Musk at the top of the Forbes rankings. (Photo: Julia Demaree Nikhinson - Pool/Getty Images)

Global billionaire wealth reached a record high in 2026, led by Elon Musk at the top of the Forbes rankings. (Photo: Julia Demaree Nikhinson – Pool/Getty Images)

(Pool via Getty Images)

The world’s billionaire population reached a record level in 2026, according to the latest ranking from Forbes. The annual list counted 2,781 billionaires with a combined net worth of about US$14.2 trillion, the highest total ever recorded.

Technology entrepreneur Elon Musk topped the ranking with an estimated fortune of about US$342 billion, making him the richest person ever recorded by Forbes since the list began. Much of Musk’s wealth is tied to his holdings in companies including Tesla and other ventures, AFP saud,.

The ranking places Musk ahead of luxury goods tycoon Bernard Arnault, Amazon founder Jeff Bezos, Oracle co-founder Larry Ellison and Meta chief Mark Zuckerberg, according to USA Today. Technology entrepreneurs continue to dominate the upper ranks of the global wealth list.

Singapore’s presence on the Forbes Global Billionaires List grew in 2026, with 54 Singaporean billionaires recorded, up from the 49 listed in 2025. Their combined wealth reached about US$154.4 billion (S$197 billion), an increase of US$9.2 billion from US$145.2 billion previously, reflecting continued growth among Singapore-linked entrepreneurs and investors. Semiconductor magnate Jason Chang emerged as the richest Singaporean on the list with an estimated US$14.2 billion fortune, followed by Li Xiting (US$11.2 billion), real estate tycoons Philip Ng (US$7.2 billion) and Robert Ng (US$7.1 billion), as well as Forrest Li (US$6.8 billion), founder of Sea Ltd, whose businesses span online gaming and e-commerce.

The late paint tycoon Goh Cheng Liang, who previously topped the list, broke tradition and split his fortune among his six grandchildren upon his passing in August last year.

The United States remains home to the largest number of billionaires, with more than 800 individuals included in the 2026 ranking. China and India follow as the countries with the next-largest billionaire populations.

Forbes reported that many fortunes are linked to stakes in publicly traded companies, meaning net worth can fluctuate with stock market movements. Strong equity market performance has helped boost the wealth of many billionaires over the past year.

The industries producing the largest number of billionaires include technology, finance, manufacturing and retail. Analysts say technology companies in particular have generated some of the fastest-growing fortunes.

The list also highlights wealth changes among prominent figures including US President Donald Trump, whose net worth rose by more than US$1 billion over the past year. Trump remains on the billionaire list but ranks far below the world’s richest individuals.

See the full Forbes’ list here.

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