Economic woes take a toll on the wealth of Singapore's richest

Their overall wealth dropped by $92.3b.

Singapore's economic woes took a toll on the wealth of Singapore richest men and women, according to a report by Forbes.

The overall wealth of Singapore's 50 richest fell by a whopping $92.3b from a year ago, according to Forbes.

The decline can be blamed on lacklustre economic growth, the sluggish stock market and the weak Singapore dollar.

"Three new entrants join the list. Among them are Shaw Vee Meng (No. 31), son of the late Hong Kong movie tycoon Sir Run Run Shaw, and mining veteran Robert Friedland (No. 30), who holds dual U.S. and Canadian citizenship but lives in Singapore. Four from last year dropped off, including Pang Yoke Min, whose offshore vessels supplier Pacific Radiance saw shares plunge as oil prices plummeted,” the report said.