The 40 richest people in Singapore, which in itself is one of the most densely billionaire-populated regions on the planet, brushed off the global financial crisis to grow their wealth by 9 per cent last year. 

The city-state's billionaires grew their net worth from US$54.4 billion (S$68.3 billion) last year to a collective fortune of US$54.9 billion, according to the Forbes Singapore Rich List.

Robert and Philip Ng, the Far East Organization's heirs, remained at the top of the list with an estimated net worth up US$300 million to US$9.2 billion in 2012.

Eight new entrants are on this year's list, including Facebook co-founder Eduardo Saverin. The thirty year-old entrepreneur is worth about US$2.2 billion. He made headlines last year by renouncing his American citizenship days before Facebook's initial public offering.

Other new faces include property tycoons Raj Kumar and his son, Kishin RK, and Raj Kumar's brother, Asok Kumar Hirandani. Spice Group chief Bhupendra Kumar Modi, also made an appearance on the list this year.

Singaporean business owners that joined this year's list include Sheng Siong CEO Lim Hock Chee with US$345 million, and Hotel 81's leader Choo Chong Ngen.

The list was compiled using shareholdings and financial information obtained from the families and individuals, stock exchanges, analysts and the Accounting & Corporate Regulatory Authority of Singapore.