101,000 Singapore millionaires in 2012; ranks of wealthy swell 10%
The share market rally sharply increased the ranks of Singapore's wealthy last year.
New figures out yesterday show that there were 101,000 millionaires by the end of 2012, a jump of 10.3 per cent over 2011.
Their total wealth went through the roof as well and was estimated to have hit US$489 billion (S$615 billion), up 11.5 per cent on the 2011 level.
The report by Capgemini and RBC Wealth Management defines a millionaire as someone with US$1 million or more in investable assets.
No of millionaires: 101,000
Total wealth: US$489b
No of millionaires: 114,000
Total wealth: US$560b