fbpx
Connect with us

Social Stories

Singapore Has Over 180,000 Millionaires & 1,000 Of Them Are Truly ‘Crazy Rich Asians’

Published

Singapore Has Over 180,000 Millionaires And About 1,000 Of Them Are Truly 'Crazy Rich Asians' - World Of Buzz 2
Source: Elena Tour & iMDB

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

The popular movie, “Crazy Rich Asians” certainly showed a side of Singapore that many did not have the privilege to see and it was an eye-opening experience! Now, based on a new report that was released on Thursday (October 18), it looks like the movie may be more accurate than we think.

According to Credit Suisse Research Institute’s 2018 Global Wealth Report and Databook, the number of millionaires in Singapore has increased by 11.2% from mid-2017 to mid-2018. Currently, there are over 183,737 millionaires, with approximately 1,000 of them who are true “Crazy Rich Asians”, worth more than US$50 million (RM207 million). In comparison, Malaysia has 46,702 millionaires and about less than 500 individuals in this category are worth more than US$50 million (RM207 million). Wah, big difference!

The report also stated that wealth per adult rose by 5.3% to US$283,000 (RM989,645), which is the ninth highest in the world. In contrast for Malaysia, our wealth per adult is only US$27,970 (RM116,314). Singapore has about five million adults with the study focusing on analysing their wealth and it discovered that household wealth in Singapore increased by 7.4% to US$1.3 trillion (RM54 trillion).

Singapore Has Over 180,000 Millionaires And About 1,000 Of Them Are Truly 'Crazy Rich Asians' - World Of Buzz

Source: colorlines

Singapore’s gross household wealth consists of 55% of financial assets, which is similar to Switzerland, the richest country based on per capita economy. Credit Suisse’s report also predicted that the number of millionaires in Singapore would increase by 5.5% every year in the next five years, which would mean that there would be 239,640 of them.

However, the top contributors to global wealth are still the US and China, with the former adding US$6.3 trillion to take its total to US$98 trillion, while China added US$2.3 trillion and hit US$52 trillion. The United States and China are the obvious outperformers and drivers of wealth growth, despite rising trade tensions,” said John Woods, Credit Suisse’s chief investment officer for Asia-Pacific, Straits Times reported.

Singapore Has Over 180,000 Millionaires And About 1,000 Of Them Are Truly 'Crazy Rich Asians' - World Of Buzz 1

Source: brillio

He said that Asia-Pacific is the region with the largest wealth, explaining, “Asia-Pacific countries continue to make a significant contribution to global high net worth wealth pool, with China, Japan, Australia, Korea and Taiwan making up more than 8.8 million millionaires, representing over 20% of the global total.”

That’s a lot of millionaires in such a small country though!

 

Also read: Did You Know “Crazy Rich Asians” Was Inspired By a Real Singaporean Family? Here’s Who They Are

Did You Know &Quot;Crazy Rich Asians&Quot; Was Inspired By A Real Singaporean Family? Here's Who They Are - World Of Buzz

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Collage 89 Collage 89
News11 hours ago

Johor Government May Implement a 4.5-Day Workweek in the Near Future

A 4-day workweek sounds ideal, but a 4-and-a-half day workweek doesn’t sound bad either. Johoreans may be in luck next...

My Post 1 2024 11 21T160023.537 My Post 1 2024 11 21T160023.537
News12 hours ago

“UPSR get D, SPM can get A” – PMX Responds to BERSIH Giving Him a Grade D in ‘Report Card’

Prime Minister Datuk Seri Anwar Ibrahim has opened up about BERSIH’s ‘report card‘ on his administration’s performance in conjunction with...

My Post 1 2024 11 21T114442.032 1 My Post 1 2024 11 21T114442.032 1
News16 hours ago

PDRM is Offering 60% Off Selected Traffic Summons at Govt’s 2nd Anniversary Event This Weekend!

In conjunction with the MADANI government’s 2nd anniversary on 24 November (Sunday), the Ministry of Home Affairs of Malaysia (KDN)...

Collage 17 1 Collage 17 1
News1 day ago

MCPF Calls for Vape Ban, Warns Addiction to Substances Can Lead to Unhealthy Behaviours Like Theft

The Malaysian Crime Prevention Foundation (MCPF) is urging for the sale of e-cigarettes or vape devices to be banned or...

Feat Image Lesen Feat Image Lesen
News1 day ago

Anthony Loke: Road Users in M’sia May Have to Pay for Physical Driving License Cards Starting Next Year

Transport Minister Anthony Loke Siew Fook today iterated that the Government will continue with the implementation of digital driving licenses...

Collage 15 2 Collage 15 2
News2 days ago

Filipino Couple Caught Living & Working Illegally in Malaysia Using Fake MyKads That Cost RM250 Each

A Filipino husband and wife were arrested during a raid on November 19 at a house in Pandan Indah yesterday...

Feat Image Apple Ind Feat Image Apple Ind
News2 days ago

Apple Offers to Increase Investment in Indonesia Tenfold to RM446 Million to Lift Country’s iPhone 16 Series Ban

Previously, we shared how the Apple iPhone 16 Series is banned from being sold in Indonesia until the tech giant...

My Post 1 2024 11 20T144359.263 My Post 1 2024 11 20T144359.263
News2 days ago

BERSIH Names Ismail Sabri the Best PM Since 2009, Calls Out PMX for Lack of Urgency with Reforms

In conjunction with the upcoming 2nd anniversary (24 November) of Anwar Ibrahim’s administration, The Coalition for Clean and Fair Elections,...

Announcement

Latest Videos



TRENDING TODAY