Muhammed Aziz Khan, chairman of Summit Group, has once again made it to Forbes’ list of Singapore’s 50 richest individuals, securing the 49th position with a net worth of $1.1 billion.
This marks his continued presence on the prestigious list, where Eduardo Saverin, co-founder of Meta Platforms, topped the rankings with a net worth of $43 billion. Last year, Khan held the 41st spot.
Forbes highlighted Khan’s wealth amid ongoing scrutiny by the Anti-Corruption Commission over alleged corruption. The ACC has frozen 191 bank accounts belonging to Khan and his family in connection with the allegations, with deposits amounting to Tk 41.74 crore.
Khan, a Singaporean citizen, resides in the city-state, where his Summit Group has diverse investments spanning power, ports, fibre optics and real estate.
Khan first appeared on Forbes’ Singapore billionaires list in 2018, with a net worth of $910 million. In 2019, he sold a 22 percent stake in Summit Power International to Japan’s JERA for $330 million, further cementing his wealth.