Singapore has climbed one place in the latest global wealth rankings, with the average wealth per adult now exceeding S$680,000, according to a new report by UBS.
The financial institution’s Global Wealth Report 2025 revealed that average wealth per adult in Singapore reached approximately S$682,500 (US$527,217), placing the city-state sixth worldwide. This marks a significant increase from the previous year, when Singapore ranked seventh with average wealth per adult standing at around US$441,600.
Only a handful of economies recorded higher average wealth figures. Switzerland retained the top position with average wealth per adult of US$910,382, followed by the United States, Luxembourg, Hong Kong and Australia.
Median Wealth Remains Lower Than Average
While Singapore ranked highly for average wealth, its median wealth per adult stood at US$96,434, placing the nation 20th globally. Median wealth provides a different perspective by showing the midpoint of wealth distribution, offering a clearer picture of what a typical resident owns compared to the average figure, which can be influenced by ultra-wealthy individuals.
Despite the lower ranking in median wealth, the figure remains among the highest globally and reflects the strong accumulation of assets within the city-state.
The report highlighted continued wealth creation across the world, with global personal wealth recording its fastest growth since 2017. Total wealth increased by 10.8 per cent in US dollar terms during the past year, accelerating from growth rates of 4.6 per cent in 2024 and 4.2 per cent in 2023.
Millionaire Population Continues To Expand
According to the report, the number of US dollar millionaires worldwide increased by 1.5 per cent last year, creating nearly one million new millionaires. This translates to more than 2,600 individuals joining the millionaire ranks every day.
More than 440,000 of these newly minted millionaires came from the United States, making it the largest contributor to global millionaire growth.
Wealth expansion was particularly strong among individuals holding assets between US$5 million and US$100 million. UBS noted that both the number of people within this segment and the total wealth controlled by the group grew rapidly during the year.
Several markets experienced especially strong momentum, including mainland China, Australia and the United States, where high-net-worth individuals saw notable gains.
Wealth Growth Expected To Continue
Looking ahead, UBS expects global wealth to keep rising, although future gains may become increasingly dependent on access to investment opportunities and the ability to diversify portfolios across different asset classes.
The report suggests that investors who can effectively spread their holdings across various investments may be better positioned to benefit from future wealth creation trends.
Singapore’s continued rise in the rankings further strengthens its position as one of the world’s leading financial hubs, supported by a robust banking sector, strong investment inflows and a growing concentration of high-net-worth individuals.