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Singapore poised to become the city with the second most number of wealthy individuals

Published on Mar 5, 2014 6:12 PM
 
Singapore will have the second highest number of ultra-high-net-worth individuals among cities in the world over the next 10 years, as Asia's surging economy continues to attract the wealthy to the region. -- ST FILE PHOTO: DESMOND WEE

Singapore will have the second highest number of ultra-high-net-worth individuals among cities in the world over the next 10 years, as Asia's surging economy continues to attract the wealthy to the region.

This also places Singapore as the Asian city with the most people with US$30 million (S$38 million) or more in net assets in 2023, beating Tokyo to the top spot, according to the Wealth Report released by property consultancy Knight Frank on Wednesday.

The report showed that Singapore will have 4,878 of these high-net-worth-individuals in 10 years, jumping 55 per cent from 2013.

New York also toppled Hong Kong to take third place in 2023 on the global rankings, while London kept the top spot.

 
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