Forbes Asia-IBM
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Vol. 22, no. 5
Vol. 22, no. 5
12 | Agent Of Change
Singapore's DBS Group is Gearing up for the future by seeding AI deep and wide across the bank. Leading the charge is veteran banker Tan Su Shan, the first woman CEO in its 58-year-history.
Jessica Tan
18 | 200 Best Under a Billion
The annual Best Under A Billion list highlights 200 publicly listed small and midsized companies in Asia-Pacific with sales above $10 million and below $1 billion.
Ardian Wibisono and Yessar Rosendar
30 | Light Touch
Japan's Santec Holdings is reaping a windfall by staying laser focused on niche optical testing gear amid surging demand from AI data centers
Zinnia Lee
37 | Taking the Lead
In a challenging year, Enrique Razon beats the odds to race to the No. 1 spot for the first time
Jane Ho and Phisano Phromchanya
43 | High Stakes
Eusebio Tanco, chairman to Philippines' largest online gaming operator DigiPlus Interactive, wagered all and won. Now he's upping his bet with a new superapp and overseas expansion.
Ian Sayson
49 | Battle Tested
Ex-military entrepreneurs are leveraging 21st-century technology to build better, smarter weapons. This AI-powered defense tech revolution is backed by billions in venture funding and will create generational fortunes---and forever change how we wage war.
Monica Hunter-Hart
58 | Waste Not
America's biggest oil field produces nearly 4 billion liters of wastewater a day. David Capobianco wants to use it to lure thirsty AI data centers to west Texas
Chris Helman
61 | The Magic Bus
With her $1.7 billion startup, Zum, veteran Silicion Valley exec Ritu Narayan is bringing AI to America's Stodgiest icon: the yellow school bus
Maggie McGrath
65 | The World's Highest-Paid Golfers
Many pros are still reaping the benefits of LIV---even if it may soon die
Bratt Knight and Hank Tucker
66 | The Great Russian Super-Yacht Fiasco
After Vladimir Putin invaded Ukraine, Western governments grabbed almost two dozen superyachts to punish him and his oligarch eronies. Great PR move, but terrible economics: four years later, many of them are rotting in their berths, costing taxpayers tens of millions of dollars
Giacomo Tognini
73 | Epic Take
Christopher Nolan, the Osca-winning director of The Odyssey, has become as bankable as any A-List actor. His latest blockbuster could deliver another big payday.
Matt Craig
Singapore's DBS Group is Gearing up for the future by seeding AI deep and wide across the bank. Leading the charge is veteran banker Tan Su Shan, the first woman CEO in its 58-year-history.
Jessica Tan
18 | 200 Best Under a Billion
The annual Best Under A Billion list highlights 200 publicly listed small and midsized companies in Asia-Pacific with sales above $10 million and below $1 billion.
Ardian Wibisono and Yessar Rosendar
30 | Light Touch
Japan's Santec Holdings is reaping a windfall by staying laser focused on niche optical testing gear amid surging demand from AI data centers
Zinnia Lee
37 | Taking the Lead
In a challenging year, Enrique Razon beats the odds to race to the No. 1 spot for the first time
Jane Ho and Phisano Phromchanya
43 | High Stakes
Eusebio Tanco, chairman to Philippines' largest online gaming operator DigiPlus Interactive, wagered all and won. Now he's upping his bet with a new superapp and overseas expansion.
Ian Sayson
49 | Battle Tested
Ex-military entrepreneurs are leveraging 21st-century technology to build better, smarter weapons. This AI-powered defense tech revolution is backed by billions in venture funding and will create generational fortunes---and forever change how we wage war.
Monica Hunter-Hart
58 | Waste Not
America's biggest oil field produces nearly 4 billion liters of wastewater a day. David Capobianco wants to use it to lure thirsty AI data centers to west Texas
Chris Helman
61 | The Magic Bus
With her $1.7 billion startup, Zum, veteran Silicion Valley exec Ritu Narayan is bringing AI to America's Stodgiest icon: the yellow school bus
Maggie McGrath
65 | The World's Highest-Paid Golfers
Many pros are still reaping the benefits of LIV---even if it may soon die
Bratt Knight and Hank Tucker
66 | The Great Russian Super-Yacht Fiasco
After Vladimir Putin invaded Ukraine, Western governments grabbed almost two dozen superyachts to punish him and his oligarch eronies. Great PR move, but terrible economics: four years later, many of them are rotting in their berths, costing taxpayers tens of millions of dollars
Giacomo Tognini
73 | Epic Take
Christopher Nolan, the Osca-winning director of The Odyssey, has become as bankable as any A-List actor. His latest blockbuster could deliver another big payday.
Matt Craig
Edition: July, 2026
Vol. 22, no. 4
Vol. 22, no. 4
14 | Wealth Engine
Lim Chung Chun reshaped retail investing in Singapore with iFAST, then built it into a regional fintech leader. Now he's betting digital banking can take the firm global.
By Cris Prystay
37 | Pressing Ahead
Tycoons get a double-digit bump in wealth from a buoyant stock market.
By Phisanu Phromchanya
43 | Top Speed
Driven by chairman Sudarshan Venu, India's TVS Motor Company raced ahead to become the world's third-largest two-wheeler maker. Now the motorbike enthusiast is broadening the company's footprint globally with luxury wheels and EVs.
By Anuradha Raghunathan
21 | World's Largest Public Companies
A total of 787 Asia-Pacific companies made the cut in 24th edition of the Global 2000, a ranking of the world's largest public companies.
By Andrea Murphy and John Hyatt
29 | Mission Ready
The cofounders of Indian space-tech startup Digantara Industries set out to monitor junk in a crowded orbit. Now the three 30 under 30 Asia alum of 2025 are developing a space surveillance system for governments around the world.
By Megha Mandavia
50 | Wealth Explosion
The world gained its first ever trillionaire on June 12, when Elon Musk listed his rocket and satellite company, SpaceX, in the biggest IPO in history.
By Chase Peterson-Withorn
54 | Rising Tide
Panthalassa, backed by Peter Thiel a raft of tech investors, sees data centers powered and cooled by the ocean as a cheap alternative to those on land or, as Elon Musk is pitching, in space.
By Alan Ohnsman
58 | America's Richest Self-made Women
It was a banner year for the country's most succesful women, with a record number of billionaires, soaring fortunes thanks to AI, and an all-time high in total wealth.
By Grace Chung and Andrea Murphy
65 | AI Watch
How does the largest video site on the planet manage the storm of AI-generated content to come, while also harnessing AI to supercharge the human creativity that fueled its rise in the first place? YouTube CEO Neal Mohan is trying to find the balance.
By Richard Nieva
68 | Sea Change
Arc started out selling sleek e-speedboats to the wealthy, but with volatile fuel prices and ports across the globe moving toward electrification, it's targeting bigger business: battery-powered tugboats.
By Alan Ohnsman
71 | Striking It Rich
Lionel Messi and Cristiano Ronaldo are two of just four athletes to have joined the three-comma club while still active in their sports, and both are competing at this year's World Cup.
By Hank Tucker
Lim Chung Chun reshaped retail investing in Singapore with iFAST, then built it into a regional fintech leader. Now he's betting digital banking can take the firm global.
By Cris Prystay
37 | Pressing Ahead
Tycoons get a double-digit bump in wealth from a buoyant stock market.
By Phisanu Phromchanya
43 | Top Speed
Driven by chairman Sudarshan Venu, India's TVS Motor Company raced ahead to become the world's third-largest two-wheeler maker. Now the motorbike enthusiast is broadening the company's footprint globally with luxury wheels and EVs.
By Anuradha Raghunathan
21 | World's Largest Public Companies
A total of 787 Asia-Pacific companies made the cut in 24th edition of the Global 2000, a ranking of the world's largest public companies.
By Andrea Murphy and John Hyatt
29 | Mission Ready
The cofounders of Indian space-tech startup Digantara Industries set out to monitor junk in a crowded orbit. Now the three 30 under 30 Asia alum of 2025 are developing a space surveillance system for governments around the world.
By Megha Mandavia
50 | Wealth Explosion
The world gained its first ever trillionaire on June 12, when Elon Musk listed his rocket and satellite company, SpaceX, in the biggest IPO in history.
By Chase Peterson-Withorn
54 | Rising Tide
Panthalassa, backed by Peter Thiel a raft of tech investors, sees data centers powered and cooled by the ocean as a cheap alternative to those on land or, as Elon Musk is pitching, in space.
By Alan Ohnsman
58 | America's Richest Self-made Women
It was a banner year for the country's most succesful women, with a record number of billionaires, soaring fortunes thanks to AI, and an all-time high in total wealth.
By Grace Chung and Andrea Murphy
65 | AI Watch
How does the largest video site on the planet manage the storm of AI-generated content to come, while also harnessing AI to supercharge the human creativity that fueled its rise in the first place? YouTube CEO Neal Mohan is trying to find the balance.
By Richard Nieva
68 | Sea Change
Arc started out selling sleek e-speedboats to the wealthy, but with volatile fuel prices and ports across the globe moving toward electrification, it's targeting bigger business: battery-powered tugboats.
By Alan Ohnsman
71 | Striking It Rich
Lionel Messi and Cristiano Ronaldo are two of just four athletes to have joined the three-comma club while still active in their sports, and both are competing at this year's World Cup.
By Hank Tucker
Edition: June, 2026
Vol. 22, no. 3
Vol. 22, no. 3
12_| Life Support
Aengus Tran traded his plan to practice medicine for developing potentially life-saving AI tools that provide quicker and more accurate diagnosis of X-rays and CT scans. Now the CEO of Sydney-based Harrison.ai is targeting the overstretched American healthcare system.
By Zinnia Lee
18_| Forbes 30 Under 30 Asia Class of 2026
The 11th edition of the Forbes 30 Under 30 Asia is highlights the brightest young sparks across the region who are pushing the boundaries in their respective fields at a time when AI is fast becoming ingrained in work and play.
Edited by Rana Wehbe Watson
32_| Bank It Like Beckham
British superstar David Beckham came to the U.S. im 2007, ostensibly to play soccer in Los Angeles and help build the world's biggest game in the world's biggest media market. But Beckham always had bigger dreams.
By Maneet Ahuja
39_| Chip Charge
A sizzling stock market reshuffles the top deck and boosts tycoons' wealth to an all-time high.
By Jane Ho
45_| Tooling Up
The global AI infrastructure buildout proves to be a wealth lode for Taiwan's picks-and-shovels billionaires.
By Jane Ho
48_| AI Bounty
SoftBank's Masayoshi Son powers up with a multibillion dollar bet on OpenAI to reclaim the top spot.
By Phisanu Phromchanya
52_| Journey Of Discovery
India's Ajay Bhardwaj became a billionaire by helping pharma giants save time and money developing new drugs. Now the founder of Anthem Bioscience is gunning for China's dominant share in pharma outsourcing as he eyes $1 billion in revenue.
By Anuradha Raghunathan
63_| The Shadow IPO Market
Ordinary investors can now buy private shares of OpenAI, Anthropic and Space-X-they think they can, anyway. But between them and IPO riches lies an opaque network of shadowy middle-men, each eager to take their cut, and some selling nothing but air.
By Phoebe Liu
69_| The Immigrant Journey
For 250 years, America's economy has been fueled by immigrants founding business, driving innovation and creating wealth, but some worry the American Dream is now at risk.
By Giacomo Tognini and Luisa Kroll
10_| Fact & Comment
Steve Forbes
Toxic Politics.
80_| Thoughts
On Birthdays.
Aengus Tran traded his plan to practice medicine for developing potentially life-saving AI tools that provide quicker and more accurate diagnosis of X-rays and CT scans. Now the CEO of Sydney-based Harrison.ai is targeting the overstretched American healthcare system.
By Zinnia Lee
18_| Forbes 30 Under 30 Asia Class of 2026
The 11th edition of the Forbes 30 Under 30 Asia is highlights the brightest young sparks across the region who are pushing the boundaries in their respective fields at a time when AI is fast becoming ingrained in work and play.
Edited by Rana Wehbe Watson
32_| Bank It Like Beckham
British superstar David Beckham came to the U.S. im 2007, ostensibly to play soccer in Los Angeles and help build the world's biggest game in the world's biggest media market. But Beckham always had bigger dreams.
By Maneet Ahuja
39_| Chip Charge
A sizzling stock market reshuffles the top deck and boosts tycoons' wealth to an all-time high.
By Jane Ho
45_| Tooling Up
The global AI infrastructure buildout proves to be a wealth lode for Taiwan's picks-and-shovels billionaires.
By Jane Ho
48_| AI Bounty
SoftBank's Masayoshi Son powers up with a multibillion dollar bet on OpenAI to reclaim the top spot.
By Phisanu Phromchanya
52_| Journey Of Discovery
India's Ajay Bhardwaj became a billionaire by helping pharma giants save time and money developing new drugs. Now the founder of Anthem Bioscience is gunning for China's dominant share in pharma outsourcing as he eyes $1 billion in revenue.
By Anuradha Raghunathan
63_| The Shadow IPO Market
Ordinary investors can now buy private shares of OpenAI, Anthropic and Space-X-they think they can, anyway. But between them and IPO riches lies an opaque network of shadowy middle-men, each eager to take their cut, and some selling nothing but air.
By Phoebe Liu
69_| The Immigrant Journey
For 250 years, America's economy has been fueled by immigrants founding business, driving innovation and creating wealth, but some worry the American Dream is now at risk.
By Giacomo Tognini and Luisa Kroll
10_| Fact & Comment
Steve Forbes
Toxic Politics.
80_| Thoughts
On Birthdays.
Edition: April, 2026
Vol. 22, no. 2
Vol. 22, no. 2
On the go: Edward Tirtanata, Cofounder of Indonesian Coffeehouse Unicorn Kopi Kenangan, serves up a regional rollout
24_ Lab-Grown Riches
Semiconductor and biotech players mint new fortunes in a bumper year.
By John Kang and Jane Ho
28_ Lab-Grown Riches
Korea's biotech sector is churning out new fortunes as Big Pharma closes in with lucrative deals for everything from weight-loss pills to novel cancer drugs using AI.
John Kang
30_ Case Study
Chenbro Micom's Maggi Chen made a prescient bet on manufacturing casings for computer servers in the 1990s. Today, as the frenzied buildout of AI data centers fuels demand, Taiwan's "Queen of Chassis" is fast tracking expansion and R&D spending.
By Catherine Wong
40_ Nuclear Family
Liz Muller convinced her physics professor father to skip retirement and become an entrepreneur. The result is a revolutionary approach to making nuclear energy cheaper and safer by burying tiny reactors underground.
By Christopher Helman
45_ Wining Streak
Tycoons hit the jackpot on stronger ringgit and a vibrant stock market.
By Phisanu Phromchanya and Anuradha Raghunathan
51_ Milky Way
Over two decades, Loi Tuan Ee built Farm Fresh into Malaysia's largest home-grown dairy business, facing off with big names such Nestle and Fonterra. Today, he's intent on replicating that success across Southeast Asia.
By Jonathan Burgos
62_ The World's Billionaires
The planet added roughly one new billionaire a day over the past year, as AI mania, sizzling markets and a pro-billionaire American president helped propel the three-comma club to unprecedented heights. More billionaires than ever, more aggregate wealh and, oh yes, the richest person in history. Plus: The 25 richest Asia-Pacific billionaires.
Edited by Chase Peterson-Withorn with Grace Chung and Matt Durot.
Country editors: Jane Ho, Naazneen Karmali, Rob LeFranco, Phisanu Phromechanya, Anuradha Raghunathan and Giacomo Tognini.
80_ Golden Strokes
Crypto cash and court rulings have combined to make America's billionaire-in-chief much richer during his first year back in office.
By Luisa Kroll, Giacomo Tognini, Chase Peterson-Withorn, Kyle Khan-Mullins and Dan Alexander
83_ The French Connection
Paris-based Mistral wanted to develop a top-tier AI model to rival OpenAI and Anthropic. That didn't work out. But it turns out lots of people don't care if the AI is bleeding-edge - as long as it isn't made in America or China.
Plus: The AI 50, our eight annual roll call the world's frontrunners in artificial intelligence.
By Iain Martin
90_ Hot Wires
Can something as boring as a utility become a growth stock? Yes, says Jay Rhame of W.H. Reaves & Co. Be prepared for some risk.
By William Baldwin
24_ Lab-Grown Riches
Semiconductor and biotech players mint new fortunes in a bumper year.
By John Kang and Jane Ho
28_ Lab-Grown Riches
Korea's biotech sector is churning out new fortunes as Big Pharma closes in with lucrative deals for everything from weight-loss pills to novel cancer drugs using AI.
John Kang
30_ Case Study
Chenbro Micom's Maggi Chen made a prescient bet on manufacturing casings for computer servers in the 1990s. Today, as the frenzied buildout of AI data centers fuels demand, Taiwan's "Queen of Chassis" is fast tracking expansion and R&D spending.
By Catherine Wong
40_ Nuclear Family
Liz Muller convinced her physics professor father to skip retirement and become an entrepreneur. The result is a revolutionary approach to making nuclear energy cheaper and safer by burying tiny reactors underground.
By Christopher Helman
45_ Wining Streak
Tycoons hit the jackpot on stronger ringgit and a vibrant stock market.
By Phisanu Phromchanya and Anuradha Raghunathan
51_ Milky Way
Over two decades, Loi Tuan Ee built Farm Fresh into Malaysia's largest home-grown dairy business, facing off with big names such Nestle and Fonterra. Today, he's intent on replicating that success across Southeast Asia.
By Jonathan Burgos
62_ The World's Billionaires
The planet added roughly one new billionaire a day over the past year, as AI mania, sizzling markets and a pro-billionaire American president helped propel the three-comma club to unprecedented heights. More billionaires than ever, more aggregate wealh and, oh yes, the richest person in history. Plus: The 25 richest Asia-Pacific billionaires.
Edited by Chase Peterson-Withorn with Grace Chung and Matt Durot.
Country editors: Jane Ho, Naazneen Karmali, Rob LeFranco, Phisanu Phromechanya, Anuradha Raghunathan and Giacomo Tognini.
80_ Golden Strokes
Crypto cash and court rulings have combined to make America's billionaire-in-chief much richer during his first year back in office.
By Luisa Kroll, Giacomo Tognini, Chase Peterson-Withorn, Kyle Khan-Mullins and Dan Alexander
83_ The French Connection
Paris-based Mistral wanted to develop a top-tier AI model to rival OpenAI and Anthropic. That didn't work out. But it turns out lots of people don't care if the AI is bleeding-edge - as long as it isn't made in America or China.
Plus: The AI 50, our eight annual roll call the world's frontrunners in artificial intelligence.
By Iain Martin
90_ Hot Wires
Can something as boring as a utility become a growth stock? Yes, says Jay Rhame of W.H. Reaves & Co. Be prepared for some risk.
By William Baldwin
Edition: February, 2026
Vol. 22, no. 1
Vol. 22, no. 1
February/March 2026
Double Edge
Henderson Land Cochairmen Martin and Peter Lee Bolster Their Property and Energy Empire with Green Tech
Hong Kong's 60 Richest
30__ Dual Purpose
Peter and Martin Lee, cochairmen of Henderson Land Development and Towngas, double down on investments in Hong Kong's upscale Central business district while funneling money into green tech as they seek to future-proof their property and energy empire.
39__ Gathering Pace
Double Edge
Henderson Land Cochairmen Martin and Peter Lee Bolster Their Property and Energy Empire with Green Tech
Hong Kong's 60 Richest
30__ Dual Purpose
Peter and Martin Lee, cochairmen of Henderson Land Development and Towngas, double down on investments in Hong Kong's upscale Central business district while funneling money into green tech as they seek to future-proof their property and energy empire.
39__ Gathering Pace
Edition: December, 2025
Vol. 21, no. 9
Vol. 21, no. 9
Big Wheel
Giti Tire's Executive Chairman Enki Tan Accelerates Global Expansion
Indonesia's 50 Richest Heroes of Philanthropy
Agritech Unicorn Halter Nuclear Energy Startups
Giti Tire's Executive Chairman Enki Tan Accelerates Global Expansion
Indonesia's 50 Richest Heroes of Philanthropy
Agritech Unicorn Halter Nuclear Energy Startups
Edition: November, 2025
Vol. 21, no. 8
Vol. 21, no. 8
- Asia's Power Businesswomen 2025: Our annual list highlighting 20 outstanding female entrepreneurs and business leaders who are transforming the Asia-Pacific region - edited by Rana Wehbe Watson and Mary E. Scott
- Golden Touch: T.S. Kalyanaraman made a fortune selling wedding jewelry in India. Now, as the price of bullion booms, the founder of Kalyan Jewellers India faces the prospect of value-conscious customers amid an ambitious expansion push - by Anuradha Raghunathan
- Upwardly Mobile: Despite a slow-moving economy, China's richest add $320 billion to their collective wealth ; by Jane Ho and Yue Wang
- Golden Touch: T.S. Kalyanaraman made a fortune selling wedding jewelry in India. Now, as the price of bullion booms, the founder of Kalyan Jewellers India faces the prospect of value-conscious customers amid an ambitious expansion push - by Anuradha Raghunathan
- Upwardly Mobile: Despite a slow-moving economy, China's richest add $320 billion to their collective wealth ; by Jane Ho and Yue Wang
Edition: October, 2025
Vol. 21, no. 7
Vol. 21, no. 7
On A Mission: Nyrika Holkar propels a makeover of India's storied consumer of goods giant Godrej & Boyce
- India's 100 richest
- The Forbes 100
- Tiga's Raymond Zage
- Surge AI's Edwin Chen
- India's 100 richest
- The Forbes 100
- Tiga's Raymond Zage
- Surge AI's Edwin Chen
Edition: August, 2025
Vol. 21, no. 5
Vol. 21, no. 5
Edition: July, 2025
Vol. 21, no. 4
Vol. 21, no. 4
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Edition: June, 2025
Vol. 21, no. 3
Vol. 21, no. 3
Edition: April, 2025
Vol. 21, no. 2
Vol. 21, no. 2
Issue terakhir dikirim ke IBM