Report says 4 out of 100 people in S'pore are millionaires
According to the 2024 World’s Wealthiest Cities Report by international wealth migration specialists Henley & Partners, there are 244,800 millionaires in Singapore.
The Singapore population stands at just above 6 million people.
This means about four out of 100 people in Singapore is a millionaire – without taking into account the number of centi-millionaires (people with a net worth of at least $100 million) and billionaires.
"City-state Singapore has climbed two places to fourth on the global ranking following an impressive 64 per cent increase in millionaires over the past 10 years and looks set to unseat Tokyo as Asia’s wealthiest city very soon," according toe Henley & Partners.
"Widely regarded as the most business-friendly city on earth, Singapore is also one of the world’s top destinations for migrating millionaires — approximately 3,400 high-net-worth individuals moved there in 2023 alone and the city now boasts 244,800 resident millionaires, 336 centi-millionaires and 30 billionaires."
The report listed New York as the leading wealthy city, with 349,500 resident millionaires, 744 centi-millionaires and 60 billionaires.
Second spot went to The Bay Area (305,700 resident millionaires, 675 centi-millionaires and 68 billionaires) and Tokyo (298,300 resident millionaires, 267 centi-millionaires and 14 billionaires) occupies third spot.
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