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Monday, 22 September 2014

Wealthy But Are They Healthy?

According to an article in Singapore's Straits Times there are thirty two billionaires in Singapore and increase of five over the previous year.

They share a combined wealth of US$65 billion.  What is revealing is the patriarchal nature of Singapore business, which remains very much a tradition within the country and its wealthiest families.

As this graphic shows, none of 32 billionaires are women and most of the money is, and has been, made in the financial sector.  The majority of these super wealthy are not born and bred Singaporeans but have moved there (or their families have) to take advantage of the country's growth and prosperity.

But whether they are a healthy lot is quite another matter with only a quarter showing any interest in health and wellness.  The drive to succeed I would suggest often overcomes any concerns of physical well-being.  That said,  as they have the money to buy the best medical services available, many of these folk enjoy a reasonable life span; the average age of these billionaires being sixty two.

The global trend shows a 7% growth in the number of billionaires and there are now 2,325 of them according to recent research from Wealth-X and the Swiss bank UBS.

12% of the world's billionaires are women and more than half are self-made. i.e. they did not inherit their fortunes.  The old saying about 'money makes money' holds true as most enjoyed an average growth in their wealth of 4.4%.

Even though Singapore is enjoying good growth in the super-rich club the best place to make your fortune remains the USA with China coming a close second.

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