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Singapore’s wealthiest man is getting richer to the tune of more than US$1 billion (S$1.4 billion) a month this year, as the stock price of his medical devices company soared by almost 50 per cent amid the coronavirus pandemic.
The fortunes of Li Xiting, the co-founder and chairman of Shenzhen Mindray Bio-Medical Electronics, have risen by US$4.3 billion this year to US$13.5 billion, according to Bloomberg data, or an average of US$37.7 million every 24 hours.
That makes Li, born in eastern China’s Anhui province, the wealthiest man in Singapore, where he has been a citizen since at least 2018.
Mindray’s shares have jumped since the coronavirus pandemic, which was first reported in central China’s Hubei province, spread worldwide, sickening more than 2 million people.
The stock on Thursday traded near a record-high of 270.52 yuan on the ChiNext market in Shenzhen, giving it a market value of 329 billion yuan (US$46.5 billion).
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