Singapore’s Ultra-Rich Population Set to Surge by 2031

Singapore’s ultra-high-net-worth population is projected to grow by 46% by 2031, driven by wealth creation and strong economic positioning. The trend reflects the city-state’s appeal as a global financial hub.

Singapore’s Ultra-Wealthy Population to Rise 46% by 2031

The increase is expected to be supported by sectors such as finance, technology, and investment management.

Ultra-Rich Population

Singapore continues to attract high-net-worth individuals due to its stability and business-friendly environment.

Experts say the growth could further boost luxury markets and investment activity. However, it may also raise discussions around inequality and cost of living in the years ahead.

Growth driven by strong financial sector and global investor appeal.

Key Data on Singapore’s Ultra-Rich (as of 2025–2026):

Billionaire Population: The number of billionaires increased from 28 in 2021 to 63 in 2026.
UHNW Growth: Individuals with US$30M+ in net worth expanded by 54.5% to 7,171 in 2026, up from 4,642 in 2021.
Millionaire Count: There are over 240,000 millionaires in Singapore, representing a high density of wealth.
Projected Growth: The UHNW population is expected to grow further to 10,495 individuals by 2031.
Combined Wealth: The 50 richest individuals/families saw their combined wealth rise by 23% to a record US$239 billion (S$306 billion) in early 2026.

Drivers of Growth:

Wealth Influx: In 2024 alone, an estimated $150 billion in wealth was brought into Singapore by new residents.
Stability and Trust: The city-state is viewed as a safe haven, attracting high-net-worth individuals, including figures like Eduardo Saverin and James Dyson.
Key Sectors: The technology sector has been a significant driver of wealth, particularly with rising Meta share prices benefiting top tycoons.

Richest Individuals (as of March 2026):

Eduardo Saverin: Often ranks as Singapore’s richest person, with net worth boosted by tech investments.
Jason Chang: A semiconductor tycoon who topped the list in early 2026.
Li Xiting & Philip Ng: Also among the top tycoons based in Singapore.

The influx of wealth has positioned Singapore as one of the most densely concentrated UHNW markets globally, with its wealth growth outpacing many other developed markets.

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