Bangladeshi-Born Aziz Khan Ranked 49th Richest in Singapore

Muhammed Aziz Khan (File photo)

Bangladeshi-born businessman Muhammed Aziz Khan has been ranked as the 49th richest person in Singapore, reflecting his longstanding prominence in the region’s business landscape. The latest Forbes ranking of the country’s 50 wealthiest individuals lists his net worth at USD 1.1 billion, marking a slight decline from previous years.

Aziz Khan, Chairman of Summit Group, secured his position on the list as a Singaporean citizen, though his business operations remain deeply rooted in Bangladesh. Over the years, he has consistently appeared on Singapore’s Top 50 Rich List, having held 41st place in 2023 and 42nd in 2022. On the global scale, he is ranked 2,790th among Forbes’ world billionaires.

Forbes notes that the bulk of Aziz Khan’s fortune comes from the power sector. In 2019, he sold a 22 per cent stake in Summit Power International to the Japanese firm JERA, significantly contributing to his wealth. Summit Group, however, maintains diversified investments, spanning power generation, ports, fibre optics, and real estate. All Bangladeshi power assets are managed under its Singapore-registered holding company, Summit Power International.

Now aged 70, Aziz Khan has been a permanent resident of Singapore for over a decade. Despite residing abroad, he continues to influence Bangladesh’s industrial and infrastructure sectors through his conglomerate.

An alumnus of the University of Dhaka with a Master’s in Business Administration, Aziz Khan is also a father of three children. His enduring presence in the Singaporean and Bangladeshi business arenas underscores his strategic vision and the international reach of Summit Group’s investments.