Aziz Khan drops out of Singapore’s top 50 richest list after eight years

Bangladeshi businessman Muhammad Aziz Khan has dropped out of Singapore’s list of the 50 richest people after eight years. He had been featured on the list from 2018 through 2025.

The information was published in the US magazine Forbes’ 2026 list of Singapore’s 50 richest people. Aziz Khan ranked 49th in 2025, 43rd in 2024, 41st in 2023 and 42nd in 2022.

Aziz Khan is also absent from Forbes’ current list of billionaires. When the list was published in 2025, he ranked 2,790th. Forbes estimated his wealth at USD 1.1 billion at the time. Summit Group has businesses in the power, ports, fibre optics and real estate sectors.

According to Forbes, Singapore-based Muhammad Aziz Khan is the chairman of Summit Group. In Bangladesh, the group operates in several sectors, including power, ports, fibre optics and real estate. Japanese energy company JERA owns a 22 per cent stake in Summit Power International, the power-sector arm of Summit Group. The group also owns various infrastructure assets in Bangladesh. Aziz Khan’s daughter, Ayesha, is involved in the management of Summit Power International.

According to a Forbes report, Singapore remains a symbol of stability despite geopolitical uncertainty. The country’s GDP grew by 6.1 per cent in the first six months of 2026. Growth was driven by higher production in the electronics and engineering sectors, supported by rising demand for artificial intelligence (AI)-related products.

Compared with last year, Forbes reported that the wealth of 35 of Singapore’s 50 richest people increased this year. However, as the fortunes of several people linked to the technology sector declined, the combined wealth of the country’s 50 richest people remained unchanged at USD 239 billion.