Singapore: Global Business Hub with 244,000 Millionaires and 30 Billionaires. Singapore has cemented its place as the world’s most business-friendly city, attracting an impressive number of millionaires and billionaires. According to the 2024 World’s Wealthiest Cities Report by Henley & Partners, Singapore has surpassed London to rank as the fourth wealthiest city globally, a testament to its growing appeal among the world’s richest individuals.
With 244,800 millionaires, 336 centi-millionaires, and 30 billionaires, nearly 4.31% of the city’s population is made up of millionaires. Over the last decade, the number of millionaires in Singapore has seen a staggering 64% growth, reflecting its rising prominence in the global wealth landscape. In 2023 alone, approximately 3,400 high-net-worth individuals made Singapore their home.
Among the billionaires residing in Singapore are Facebook co-founder Eduardo Luiz Saverin, property magnates Robert and Philip Ng, and Li Xiting, chairman of Shenzhen Mindray Bio-Medical Electronics. The city’s favorable tax policies, strategic location in Asia, and strong economic growth have made it a magnet for investors, entrepreneurs, and business moguls.
Known for its safety, cleanliness, and vibrant cultural diversity, Singapore continues to thrive as a global financial hub. Its futuristic skyline, symbolized by landmarks like the Marina Bay Sands, and its robust infrastructure make it a prime location for both business and luxury living.
From humble beginnings as a fishing village to becoming an independent nation in 1965, Singapore’s rapid industrialization and development have shaped it into one of the most influential financial centers in the world today. The city’s continued growth promises even more opportunities for those seeking to expand their wealth in one of the most dynamic economies globally.
