- The number of ultra-high-net-worth individuals with a net-worth of over US$30 million (S$40 million) in Singapore is projected to rise in the next few years
- They are attracted to Singapore due to its economic hub status, stability, and safety, among other reasons
- However, sociologists warn that the ultra-rich will be expected to conduct themselves with restraint, and not be too flashy with their wealth
- Attention should also be paid on how the super wealthy contribute to society in tangible ways such as through philanthropy or job creation
- If not, it could lead to societal tension and even increased xenophobia, given Singapore’s egalitarian values
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