In total, billionaires accounting for more than US$400 billion (S$536 billion) have emigrated in the past four years, with the Middle East and Africa region attracting the most billionaire capital.
Singapore is host to 47 billionaires with a combined wealth of US$155.5 billion, according to the latest UBS Billionaire Ambitions Report released on Dec 5.
This compares with 41 billionaires with a total wealth of US$135.8 billion in 2023, said the report, which tracks the wealth of more than 2,500 billionaires globally over the past 10 years.
Around two-thirds of billionaires in Singapore are self-made, almost on a par with Hong Kong, it added.
The pace of growth is more significant considering Singapore was home to only 17 billionaires with a total wealth of US$44.5 billion in 2015.
On an average basis, the wealth of billionaires in Singapore rose 27 per cent from US$2.6 billion in 2015 to US$3.3 billion in 2024, UBS said.
This story is from the December 06, 2024 edition of The Straits Times.
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This story is from the December 06, 2024 edition of The Straits Times.
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