Number of Singapore billionaires falls to 39

Singapore

SINGAPORE'S billionaire population declined 11.4 per cent to 39 in 2018 from 44 in 2017, largely driven by negative equity market performance, according to research firm Wealth-X's Billionaire Census 2019.

Singapore's ultra rich shed 8.8 per cent of their wealth even as the city-state kept its 15th position in the country rankings for the most number of billionaires. Singapore billionaires' combined wealth stood at US$84 billion in 2018.