1 in 6 Singapore households are millionaires: Report

[DebDerris]

haha, this is insane!


really that high? i seriously dont think so! so many people around… maybe they are taking into consideration only families and not individuals… so children who are 21-25 and still working independently also classed in millionaire category.

[kooky83]

haha i knew singaporeans are rich. all secretly got money but appear no money. but the figure is really high!

[hquek]

WeiHan:

This report is probably true.


However, the figure includes new immigrants and PRs. Many of these come from financially troubled western nations to prevent their wealth from being taxed by their governments. As you may know, the root cause of western financial crisis is over spending through unsustainable public debt for social programs.

Example of these riches that have migrated to singapore recently are co founder of facebook etc....

From the way coe high even though most of us agree it is crazy price...yes, a lot of hidden wealth.

That fb guy...I think he cover for a lot of SG already

[LOLMum]

hquek:

WeiHan:

This report is probably true.


However, the figure includes new immigrants and PRs. Many of these come from financially troubled western nations to prevent their wealth from being taxed by their governments. As you may know, the root cause of western financial crisis is over spending through unsustainable public debt for social programs.

Example of these riches that have migrated to singapore recently are co founder of facebook etc....

From the way coe high even though most of us agree it is crazy price...yes, a lot of hidden wealth.

That fb guy...I think he cover for a lot of SG already

Oh boy, with that kind of money..

[Pen88n]

LOLMum:

hquek:

[quote=\"WeiHan\"]This report is probably true.


However, the figure includes new immigrants and PRs. Many of these come from financially troubled western nations to prevent their wealth from being taxed by their governments. As you may know, the root cause of western financial crisis is over spending through unsustainable public debt for social programs.

Example of these riches that have migrated to singapore recently are co founder of facebook etc....

From the way coe high even though most of us agree it is crazy price...yes, a lot of hidden wealth.

That fb guy...I think he cover for a lot of SG already

Oh boy, with that kind of money.. [/quote]If the survey is properly done, the fb guy should be considered 1 household only. They are not talking about average wealth of Singaporean household, they are talking about how many households are millionaires. So, even if a household has billions, it is only 1 household which is a milliionaire (or billionaire).

[Atan]

There are alot of aged 40-50s and also the very bold young ones who have made their $$ from property investments, but it is indeed unbelievable that there are so many millionaires in S’pore.

I wonder what is the definition of household income-total $$ of all at home?

[verykiasu2010]

the late Ma Chi also rich wat, under that classification, one car alone is $1.8m

[DebDerris]

haha yes one car alone is so expensive


i guess the proof here is true about the coe being so high and still people buying so many cars

[pinky]

DebDerris:

haha yes one car alone is so expensive


i guess the proof here is true about the coe being so high and still people buying so many cars

just read from papers that the $$ we pay for a cherry QQ here is more than enough to buy a porsche boxter in US or a Merc SLK in UK :stupid: