Singapore - American business magazine Forbes has compiled a list of Singapore's 40 richest people. The list was compiled based on the individual's net worth calculated in July 2012.

At the top of the list are brothers Robert and Philip Ng, with a net worth of $10.1 billion. The brothers are real estate tycoons handling the family estate inherited from their late father Ng Teng Fong. This includes development corporations Far East Organisation and Sino Group. The bulk of their wealth stems from Tsim Sha Tsui Properties which is helmed by elder brother Robert in Hong Kong, says Forbes.

The Khoo family, emerging second on Forbes' wealthy list, own a net fortune of $6.7 billion left behind the late banker Khoo Teck Puat in 2004. The family of banking tycoons also control the Goodwood Group of Hotels and frequently donate to various causes in Khoo Teck Puat's name.

Also on the list of Singapore's richest is Kwek Leng Beng and his family. Kwek is the executive chairman of Hong Leong Group Singapore, a globally diversified firm encompassing international operations of more than 500 companies. His cousin, Malaysian billionaire Quek Leng Chan heads Hong Leong Group Malaysia. The family's net worth stands at $2.4 billion.

Satinder Garcha is the youngest on the richest list at just 42, with a net worth of $315 million. The self-made multi-millonaire is best known for developing luxury landed homes on Sentosa Cove and Good Class Bungalows, and was recently reported to be venturing into the high-end boutique hotels business with a hotel management company called Garcha Hotels.

Here's a list of Singapore's 40 richest people, according to Forbes.

1. Robert Ng & Philip Ng
2. Khoo family
3. Wee Cho Yaw
4. Kwee brothers
5. Richard Chandler
6. Kwek Leng Beng & family
7. Kuok Khoon Hong
8. Eduardo Saverin
9. Peter Lim
10. Ong Beng Seng & Christina Ong
11. Raj Kumar & Kishin RK
12. Zhong Sheng Jian
13. Lee Seng Wee
14. Sam Goi
15. Koh Wee Meng
16. Lim Oon Kuin
17. Tang Wee Kit
18. Lien family
19. Asok Kumar Hiranandani
20. Tan Boy Tee
21. Chang Yun Chung
22. Oei Hong Leong
23. Bhupendra Kumar Modi
24. Ho family
25. Choo Chong Ngen
26. Michael Kum
27. John Chuang
28. Peter Fu Chong Cheng
29. Loo Choon Yong
30. Henry Ng
31. Chua Thian Poh
32. Ow Chio Kiat
33. Ron Sim
34. Cheng Wai Keung
35. Lim Hock Chee
36. Yao Hsiao Tung
37. Satinder Garcha
38. John Lim
39. Olivia Lum
40. Ho Kwon Ping

Click here to view some of Singapore's wealthiest people.

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Photos: ST, BT, TNPS, Reuters, TNP, Zao Bao, CDL, UOB, Bloomberg, Wilmar, Premium Automobile, Ernst and Young, Khoo Family, handout, Goodwood Park, Eric Khoo, Shin Min, Commchest.org, SCMP, Rumahkaca.info, hkchcc.org, CDL China