Their combined wealth amounted to US$258.8 billion, a 66.4 per cent jump from US$155.5 billion in 2024. - Photo: Lianhe Zaobao
SINGAPORE: Six newcomers grew Singapore’s roster of billionaires in 2025 to 55, with most of them self-made, according to a new UBS wealth report released on Thursday (Dec 4). The list includes all 47 from 2024 and two who moved to the Republic.
The current cohort’s combined wealth amounted to US$258.8 billion (S$335 billion), a 66.4 per cent jump from US$155.5 billion in 2024.
Out of the Singapore billionaire population in 2025, 37 are self-made, said UBS, Switzerland’s biggest bank and a leading global wealth management leader.
The Asia-Pacific saw the highest number of new billionaires across the globe, with 128 joining the list.
Speaking at a media briefing on Dec 4, Young Jin Yee, UBS’ Singapore country head and co-head for global wealth management for the Asia-Pacific, said the rebound of China and the rest of the region contributed to the wealth growth.
It comes as the global billionaire population rose in 2025, driving their total wealth to a new high. There were 2,919 billionaires in April 2025, an 8.8 per cent rise from 2,682 in the 2024 UBS report.
The total wealth of billionaires hit a new record, growing 13 per cent to US$15.8 trillion in 2025.
The Asia-Pacific is now home to 1,036 billionaires, up from 981 in 2024. The Americas have 1,052 billionaires, from 973 in 2024, while EMEA’s (Europe, the Middle East and Africa) billionaires grew to 547 from 495 in 2024.
The Americas led with a 15.5 per cent increase in billionaire wealth to US$7.5 trillion, followed by the Asia-Pacific with an 11.1 per cent rise to US$4.2 trillion and EMEA with a growth of 10.4 per cent to US$4.1 trillion.
The report added that self-made billionaires are on the rise, with 196 entrepreneurs becoming new billionaires, accounting for a total wealth of US$386.5 billion.
US billionaires led the way, with those in the Asia-Pacific trailing closely behind.
Across the Americas, 92 new self-made billionaires represented a total wealth of US$179.9 billion, with 87 of them domiciled in the US with US$171.9 billion.
In the Asia-Pacific, 61 entrepreneurs became billionaires with a combined wealth of US$124.4 billion. In EMEA, 43 entrepreneurs became new billionaires.
Hartmut Issel, head chief investment officer for Asia-Pacific equities at UBS, said: “Look at what’s happening in stock markets, no matter which country. We do see the IPOs (initial public offerings) are very focused on the new economy – so certainly on the tech side.”
Conrad Huber, business sector head for India and non-resident Indians, Indonesia and Japan International at UBS, noted strong market activity across the US, India, China and Hong Kong.
The 374 female billionaires saw their average wealth grow 8.4 per cent to US$5.2 billion in 2025, while the 2,545 male billionaires’ wealth grew by just 3.2 per cent.
The consumer and retail sector is the leading sector driving the wealth of female billionaires.
Young said the Asia-Pacific stands out for having the highest proportion of female self-made billionaires compared with the other regions.
The report also highlighted that a great wealth transfer is under way, with 91 heirs – 64 are male and 27 female – receiving US$297.8 billion in 2025, making it a record year of inherited wealth. By UBS’ calculations, about US$5.9 trillion of wealth is likely to be passed on to heirs globally by 2040.
Nearly half of this wealth transfer will be in the US, followed by Western Europe (at least US$1.3 trillion). Heirs in the Asia-Pacific are likely to inherit at least US$1.29 trillion, with US$66.7 billion of this happening in Singapore.
Billionaires are eyeing the Asia-Pacific and Greater China in the long term, UBS found.
In the next 12 months, 34 per cent of them see Greater China as offering the greatest investment opportunities, a significant jump from 11 per cent in 2024, while 33 per cent favour the Asia-Pacific excluding Greater China, up from 25 per cent in 2024.
Asia-Pacific billionaires plan to increase exposure to hedge funds (61 per cent), developed markets equities (50 per cent) and precious metals such as gold (48 per cent).
The top concerns for these billionaires over the next year are tariffs, followed by major geopolitical conflict and policy uncertainty. - The Straits Times/ANN
