THIS is world's best city for business, 244000 millionaires, 30 billionaires live here, not Mumbai, Delhi, Paris, London

Did it ever wonder where the world's wealthiest people choose to live or are home to high-net-worth individuals? The 2024 World’s Wealthiest Cities report by Henley & Partners has deemed Singapore as the heaven for the world’s wealthy people. 

Singapore has clinched its position as a magnet for the wealthy, surpassing London as the fourth wealthiest city globally, according to the report. This cosmopolitan city-state is now home to an impressive 244,800 millionaires, 336 centi-millionaires, and 30 billionaires.

Singapore is emerging to be a growing hub for high-net-worth individuals, with a staggering 64% growth in millionaire numbers between 2013 and 2023. In 2023 alone, 3,400 high-net-worth individuals made the city their home. The city's favourable tax policies, strategic Asian location, and thriving economy make it an irresistible destination for business moguls, investors, and entrepreneurs seeking to expand their fortunes.

This world’s city is home to the billionaires. According to Forbes, some of the richest billionaires residing in Singapore include, Eduardo Luiz Saverin, co-founder of Facebook; Brothers Robert and Philip Ng, controlling stakeholders of Far East Organization; and Li Xiting, co-founder and chairman of Shenzhen Mindray Bio-Medical Electronics. 

Singapore has transformed from Humble Beginnings to a global financial hub. Its remarkable journey began as a fishing village and outpost for the Srīvijayan Empire. By the 14th century, it was known as Temasek, later adopting the name Singapore, possibly derived from the word ‘Singapura’,  meaning ‘Lion City.’ Sir Stamford Raffles established a British trading post in 1819, paving the way for colonial growth. After gaining independence in 1965, Singapore rapidly industrialized, emerging as a leading global financial hub and maintaining strong diplomatic ties in the region.

The city is known for its safety, diversity, and futuristic architecture. Its cleanliness, efficient organization and cultural diversity are epitomised by the iconic Marina Bay Skyline. This cosmopolitan city seamlessly blends tradition and innovation, making it an attractive destination for individuals from all walks of life.