Inside world's booming business city that's home to 244,000 millionaires

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Drawing successful the affluent from each corners of the world, this hotspot has leapfrogged London to assertion the 4th spot connected the database of the world's wealthiest cities

This hotspot has leapfrogged London to assertion the 4th spot connected the database of the world's wealthiest cities(Image: Getty Images)

Ever wondered wherever the globe's millionaires and billionaires live? Singapore is the answer.

Drawing successful the affluent from each corners of the world, according to the 2024 World's Wealthiest Cities Report by Henley and Partners, Singapore has leapfrogged London to assertion the 4th spot connected the database of the world's wealthiest cities.

The study reveals that Singapore is location to a whopping 244,800 millionaires, 336 centi-millionaires, and 30 billionaires. This means that a staggering 4.31% of Singapore's colonisation are millionaires, with an awesome maturation of 64% successful their numbers betwixt 2013 and 2023.

In 2023 alone, it's estimated that 3,400 high-net-worth individuals relocated to Singapore. Forbes lists Eduardo Luiz Saverin, Facebook co-founder; Robert and Philip Ng, who helm Far East Organization, 1 of Singapore's largest backstage landlords and spot developers; and Li Xiting, co-founder and president of Shenzhen Mindray Bio-Medical Electronics, a starring supplier of aesculapian devices, arsenic the 3 richest billionaires residing successful Singapore.

The iconic Marina Bay Sands and different waterfront buildings successful downtown Singapore(Image: Getty Images)

The city's charismatic taxation policies, strategical determination successful Asia, and booming system marque it a wide gully for concern tycoons, investors, and entrepreneurs looking to summation their wealth. Singapore's past tin beryllium traced backmost to its humble beginnings arsenic a sportfishing colony and outpost for the Srivijayan Empire, reports the Express.

By the 14th century, the country was known arsenic Temasek, earlier adopting the sanction Singapore, perchance taken from "Singapura" which translates arsenic "Lion City."

Sir Stamford Raffles founded a British trading station determination successful 1819, which was a catalyst for its maturation during the assemblage era. Singapore concisely joined Malaysia aft assemblage regularisation but soon gained independency successful 1965.

Post-independence, Singapore transformed done accelerated industrialisation to found itself arsenic a premier planetary fiscal centre and continues to grow its economical and governmental clout, portion strengthening determination diplomatic ties.

The city-state is often lauded for its unrivalled safety, ultimate cleanliness, orderly society, taste blend, and cutting-edge architecture, including the stunning Marina Bay Skyline.