Bangladesh-born Muhammed Aziz Khan, the chairman of Summit Group, has become the 42nd richest man in Singapore on the list of Forbes 2022.
His net worth was stated to be $1 billion in the list as of Friday.
Khan started Summit as a trading firm but went on to focus on infrastructure. Summit has interests in power, ports, fiber optics and real estate.
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In 2019, Khan sold a 22% stake in Summit Power International to Japan's JERA for $330 million, which valued the company at $1.5 billion, according to Forbes website.
He was also listed among the richest in Singapore by Forbes in 2018. Often called a visionary and now a living legend, his business acumen is only matched by his dedication to improving the lives of others, a philanthropist and avid connoisseur of art.
He was recognised as the ‘Global Asian of the Year 2018’ under the Power & Energy category by AsiaOne magazine for his contribution to the sector in 2019.
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Meanwhile, with a net worth of $15.6 billion, Li Xiting, founder and chairman of medical equipment provider Shenzhen Mindray Bio-Medical Electronics, topped the list of Singapore's 50 wealthiest citizens.