Ultra-rich individuals in Singapore up by 8.6% in 2021

The number of ultra-high-net-worth individuals (UHNWIs) in Singapore has surged by 8.6% to 4,206 in 2021, from 3,874 in 2020, according to Knight Frank's 2022 edition of The Wealth Report. UHNWIs are defined as those with net assets of at least USD30m. As of 2021, there were 28 billionaires in Singapore, up from 25 a year ago. In the report's attitudes survey, 76% of Singapore respondents reported an increase in total wealth of more than 10% last year. The report also found that globally, the UHNWI population rose by 9.3% in 2021 to 51,000, compared to a growth of 2.4% in 2020, despite the ongoing Covid-19 disruptions.