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Robust increase in ultra-wealthy individuals in Singapore and globally in 2021: report

Knight Frank's latest 2022 edition of The Wealth Report found that in Singapore, the number of UHNWIs rose 8.6 per cent to 4,206 in 2021, from 3,874 in 2020. The growth rate in 2020 was a tad higher at 10.2 per cent.

As at 2021, there were 28 billionaires in Singapore, up from 25 a year ago. The number of high-net-worth individuals (HNWIs) in Singapore — defined as those with net worth of at least US$1 million — rose by 6 per cent to over 526,000 in 2021.

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