101,000 Singapore millionaires in 2012; ranks of wealthy swell 10%
By Rachael Boon
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.
By Rachael Boon
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.
