01 Jun '11, 1am

No. of Singapore millionaires rises almost 33% in 2010

Around one per cent of households have 39 per cent of the globe's wealth according to a study published on Tuesday, with Singapore's millionaires rising by almost 33 per cent in 2010. --ST PHOTO: ABDUL AZIZ HUSSIN WASHINGTON - AROUND one per cent of households have 39 per cent of the globe's wealth according to a study published on Tuesday, with Singapore's millionaires rising by almost 33 per cent in 2010. Over 15 per cent of households in Singapore have over a million dollars in assets under management, well ahead of the Switzerland and the oil-rich Arabian Gulf states. The number of millionaire households across the globe increased 12 per cent in 2010, according to The Boston Consulting Group report, increasing millionaires' share of wealth from 37 per cent in 2009, pointing to increased inequalities in the wake of the global downturn. Despite being at the epicentre of ...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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