Aziz Khan drops off Forbes list
Muhammad Aziz Khan, a businessman of Bangladeshi origin and chairman of Summit Group, has been dropped off Forbes’ list of Singapore’s 50 richest people after maintaining a place on the ranking for eight consecutive years. His name does not appear on the US magazine’s newly published 2026 list, after he ranked 49th in 2025 with an estimated net worth of $1.1 billion.
Aziz Khan had featured on the list every year from 2018 to 2025. He ranked 43rd in 2024, 41st in 2023 and 42nd in 2022. In the 2025 global billionaire ranking, he was placed 2,790th.
The latest development comes amid scrutiny of the business activities and overseas assets of prominent Bangladeshi business figures, although Forbes has not cited any specific reason for Aziz Khan’s removal from the 2026 Singapore rich list.
According to Forbes, Singapore-based Muhammad Aziz Khan is the chairman of Summit Group, which has business interests in Bangladesh spanning the power, ports, fibre-optics and real-estate sectors.
Japan’s energy company JERA owns a 22 per cent stake in Summit Power International, the group’s power-sector subsidiary. The company also has ownership interests in various infrastructure assets in Bangladesh. Aziz Khan’s daughter, Ayesha, oversees the operations of Summit Power International.
The absence of Aziz Khan from the 2026 ranking means he is no longer among Singapore’s 50 wealthiest individuals according to Forbes. The magazine estimated his net worth at $1.1 billion when its 2025 list was published.
In its latest report, Forbes said Singapore remains a symbol of stability amid geopolitical uncertainty. The country recorded GDP growth of 6.1 per cent in the first six months of 2026, driven by increased production in the electronics and engineering sectors amid rising demand for artificial intelligence (AI)-related products.
Forbes also reported that the wealth of 35 of Singapore’s 50 richest people increased compared with last year. However, due to a decline in the wealth of several individuals in the technology sector, the combined net worth of the country’s 50 richest people remained unchanged at $239 billion.
Aziz Khan’s omission therefore comes despite overall wealth among Singapore’s richest people remaining stable, with more than two-thirds of those on the list recording an increase in their fortunes.
