According to Credit Suisse Group, the number of millionaires in Singapore will increase by 62% by 2025. This rise can be attributed to the post-covid growth expected. Check this out…
Category: Financial Nett Worth
Singapore gained 3 billionaires amidst the COVID-19 pandemic
When people are losing jobs and businesses are closing, Singapore gained 3 billionaires and China’s super rich got $2 trillion richer.
Most of them experienced increase in financial nett worth because the stocks they owned grew in value because of sudden demand during the pandemic. Some of them also invested in under-valued stocks that surged when the upturn happened. Check the details in these articles.
First person to cross US$200B in financial nett worth
Jeff Bezos of Amazon because the first person in history whose financial nett worth crossed US$200B. And it happened in Q3 of 2020 in the midst of the COVID-19 pandemic where tech stocks saw a boom due to increased e-commerce and online activities.
Meanwhile, the wealth of French luxury brand LVMH’s titan also crossed US$100M. It seems like a case of the rich getting richer since they have the reserve to invest in under-valued stocks that rose when the markets turned around.
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