Summit Group Chairman Muhammed Aziz Khan makes it to Forbes again
He is also the 41st, same as last year, among the 50 richest individuals in Singapore.
Muhammed Aziz Khan, chairman of Summit Group, has been named as one of the richest people in the world by American business magazine Forbes.
With a net worth of $1.1 billion, Aziz ranked 2545th out of 2,781 billionaires across the world in the Forbes World's Billionaires List 2024.
He is also the 41st, same as last year, among the 50 richest individuals in Singapore.
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He was first named in the Forbes Singapore list in 2018 when his net worth was $910 million. After a brief decline in 2019, his net worth soared to $955 million and $990 million in 2020 and 2021 respectively. In 2022, his net worth stood at $1 billion, and in 2023 at $1.12 billion.
Aziz's Summit Group is one of the leading private sector conglomerates of Bangladesh, having more than 20 businesses in power, ports, fibre optics and real estate sectors.
The world's billionaires are riding high, with Forbes finding a record 2,781 of them around the globe this year, worth a record $14.2 trillion altogether. With many markets up, the surge in wealth has made 265 people billionaires over the past year, up from 150 newcomers in 2023.
These fresh faces include a fashion legend, an NBA hall-of-famer and one very famous popstar. They collectively command $510 billion in wealth, or $1.9 billion on average, and hail from 32 countries, the business magazine reported.
As per the Forbes list, once again, the United States leads the pack, with 67 Americans joining the ranks. The wealthiest among them is Todd Graves, the founder of fast-food chain Raising Cane's, whose net worth stands at an estimated $9.1 billion.
China maintains the second spot, nearly doubling its number of new billionaires from last year, to 31, despite troubles in the Asian nation. The richest are Maggie Gu, Molly Miao and Ren Xiaoqing (worth an estimated $4.2 billion each), who cofounded the Gen Z fast-fashion giant Shein.
India, meanwhile, added 25 new billionaires, including Renuka Jagtiani ($4.8 billion), the chief executive of e-commerce conglomerate Landmark Group, which was founded by her late husband Micky Jagtiani, who died in May 2023.
