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SINGAPORE – Singapore added three more billionaires to its tally as Asia stayed on as the region with the most uber-rich in the world, according to a report out on Wednesday (Oct 7) by UBS and PricewaterhouseCoopers (PwC).
The Asia Pacific region hit a record of 831 billionaires, about 38 per cent of the total number globally. They account for US$3.3 trillion (S$4.49 trillion) of total wealth, possessing on average US$4 billion each.
The UBS/PwC Billionaires insights report studied more than 2,000 billionaires from 43 markets worldwide. Its annual study period of March 6, 2019, to April 7, 2020, was extended to July 31 this year to take into account the transformative effect of the Covid-19 pandemic.
Singapore has a total of 25 billionaires – four emerged since the last survey, but one dropped off the ranks from April to July this year.
Total billionaire wealth here grew by 11 per cent, reaching US$79.1 billion in April. But from April to July, it bounced 30 per cent to US$ 102.6 billion.
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