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Two-thirds of Singaporean billionaires are self-made, says UBS-PwC report

Uma Devi
Uma Devi11/8/2019 04:49 PM GMT+08  • 3 min read
Two-thirds of Singaporean billionaires are self-made, says UBS-PwC report
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SINGAPORE (Nov 8): Some 64% of the billionaires in Singapore are self-made, according to research published Friday by UBS Wealth Management and professional services firm PwC.

While the total number of Singaporean billionaires remained unchanged at 22, their combined wealth grew 11% year-on-year to hit US$71.3 billion ($96.8 billion) in 2018 – with the self-made billionaires holding just over half of this total, the report said.

According to the annual UBS and PwC Billionaires Insights report, the top three wealth drivers in the city state in 2018 were the real estate, consumer and retail, and material industries.

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