Holiday Ayo - Forbes magazine has released the 2024 edition of the richest people in Singapore.

In this list, it turns out that there is a conglomerate from Indonesia, namely Leo Koguan.

Leo Koguan was born in Indonesia in 1955, then moved and became a citizen of the United States (US).

In Uncle Sam's country, he succeeded in obtaining a Master's degree (S2) at Columbia University.

Apart from that, Leo also managed to get a degree in law from New York Law School. Only after that did he change citizenship to Singapore.

Initially, Leo was an investor in real estate in Manhattan. However, he later sold this investment to buy a software seller for less than US$ 1 million in 1989.

He then changed the company to SHI International Corp with his ex-wife Thai Lee. This company, headquartered in Somerset, New Jersey, later became one of Leo's biggest sources of income.

Apart from that, he is also one of the third largest individual shareholders in Elon Musk's electric car manufacturing company, Tesla Inc.

This share ownership stems from his almost bankrupt condition at the start of the Covid-19 pandemic because the equity market fell.

At that time Leo decided to sell some of his shares such as Baidu, Nvidia, China Mobile and Nio.

Then the proceeds from selling the shares were used to buy Tesla shares for long-term investment during the pandemic.

But who would have thought, this share purchase would actually succeed in making him one of the richest people in Lion Country.

Currently, Forbes estimates the wealth of this Indonesian-born man at US$ 6.7 billion or IDR 101.5 trillion (exchange rate of IDR 15,150 per US dollar).

This condition places him as the 9th richest person in Singapore and 486th in the world.