City-state ranks 4th globally and 2nd in Asia for millionaire density, says new report
Singapore is now home to 242,400 millionaires, reinforcing its status as one of the world’s wealthiest cities. According to the 2025 World’s Wealthiest Cities Report, the city-state ranks fourth globally and second in Asia.
As of December 2024, Singapore had 242,400 individuals with liquid investable wealth exceeding US$1 million (S$1.32 million), according to Henley & Partners’ 2025 World’s Wealthiest Cities Report. With a population of 6.04 million, this translates to approximately four millionaires per 100 residents—one of the highest ratios in the world.
Globally, Singapore ranks fourth behind New York City, the Bay Area, and Tokyo. Within Asia, it is second only to Tokyo, which has 292,300 millionaires. Singapore is also home to 333 centi-millionaires (net worth above US$100 million) and 30 billionaires, further reinforcing its financial prominence.
Comparison With Global Cities
New York City tops the global chart with 384,500 millionaires, including 818 centi-millionaires and 66 billionaires. The Bay Area follows closely, driven by tech wealth, with 342,400 millionaires and 82 billionaires. Tokyo and Singapore are the only Asian cities in the global top five, with Hong Kong ranking eighth.
Strong Growth Over a Decade
Singapore’s millionaire population has expanded by 62% from 2014 to 2024. This growth is attributed to its strategic role in finance, technology, and wealth management, alongside its reputation as a politically stable and business-friendly destination for high-net-worth individuals and family offices.
While Hong Kong trails Singapore, it still boasts 154,900 millionaires, 346 centi-millionaires, and 40 billionaires. Tokyo remains ahead in terms of total millionaire count but trails Singapore in centi-millionaire numbers, reflecting Singapore’s growing appeal to ultra-high-net-worth individuals.
Why It Matters
The data underscores Singapore’s continued rise as a financial and wealth hub despite global uncertainties. With increasing global interest from investors and entrepreneurs, the city-state’s wealth ecosystem remains a key driver of its economic resilience and international standing.
Singapore’s status as the fourth wealthiest city globally—and second in Asia—reinforces its role as a magnet for wealth creation, high-value investments, and talent mobility. For regional observers in Indonesia and Southeast Asia, it signals the continuing financial transformation of a small state into a global capital for high-net-worth individuals.
Sources: Mothership (2025), VN Express (2025)
Keywords: Singapore Millionaires, Global Wealth Ranking, Henley And Partners Report, Centi Millionaires, Billionaires In Asia, Wealthy Cities 2025, High Net Worth Singapore
