Key ideas from Ab

• In 2024 alone, 47 billionaires and 3,400 millionaires moved to Singapore, bringing $150 billion in wealth—equivalent to 13% of Singapore's entire GDP
• Singapore hosts 49 of the world's 3,000 billionaires, giving it a billionaire concentration 22 times higher than its population share would suggest
• Family offices require $150 million in assets under management with $37 million actively deployed, plus hiring five professionals including three Singaporean citizens
• Singapore has no capital gains tax, no inheritance tax, and a 17% corporate tax rate—making it the most tax-efficient wealth vault globally
• The 2020 Hong Kong National Security Law triggered mass wealth migration, with nearly 10,000 high-net-worth individuals leaving China in 2022 alone
• Over 400 public HDB flats sold for more than $1 million Singaporean dollars in a single quarter, pricing ordinary citizens out of public housing
• Singapore now has the worst wealth inequality in Asia Pacific, with the top 10% controlling two-thirds of the country's wealth