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101,000 Singapore millionaires in 2012; ranks of wealthy swell 10%

Published on Jun 20, 2013 8:02 AM
 

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.

 
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Background story

SINGAPORE 

No of millionaires: 101,000

Total wealth: US$489b

HONG KONG

No of millionaires: 114,000

Total wealth: US$560b