Kumar debuted on Forbes' list of Singapore's 40 Richest this year, taking 11th place with his son, Kishin RK, with a combined net worth of US$1.5 billion. Kumar helms the privately-held Royal Holdings, which he formed in 2005 after he and younger brother Asok Kumar Hiranandani divided the assets of their jointly-owned Royal Brothers. Initially a textile trading company, Royal Brothers had by then become Singapore's wealthiest non-Chinese family business with retail, office and hotel properties worth an approximate US$1.4 billion. The man who once tried to buy the Trump Tower in New York is currently redeveloping a key property acquired during the swap — the former Royal Brothers corporate headquarters in Raffles Place — into a 50-storey office tower. He also has plans to turn Cuppage Terrace, a row of 17 shophouses off Orchard Road, into a hotel.