Singapore/Singaporeans Rich?

3 August 2026 (first drafted)

UBS (The Europe-based bank) has this table (2025 figures/estimates):

 

From the table, on the basis of Average Wealth, the US has the second wealthiest adults, just below Switzerland.

Singapore is 6th, based on Average wealth.

But... But... But... 

Haven't we been TOLD that we are practically the WEALTHIEST country or close to the WEALTHIEST, and that Singapore is Wealthier than the US and the UK?

You must mean the IMF figures for GDP per Capita based on Purchasing Power Parity (PPP)?

Yes. That shows Singapore as number 2 or 3. (See Table below.)

Except...

That's the figure for GDP per Capita (PPP).

But... that's the same as "wealth" right?

As this Youtube video explains, no, GDP per Capita is NOT the same as income or wealth, and Average wealth in a country is NOT the same as Median wealth in a country.

As the video explains, Average wealth can be skewed by many millionaires and billionaires in the population. They would pull up the average. 

Median wealth measures the value at the 50th percentile of the population.

So, this table on the GDP per Capita simply uses the total output of the country (Singapore) divided by the population. The GDP per Capita figures simply tells you how much each person in the country, on average, contributes to the output of the country. It does not say how much wealth each person has.

So... WE'VE BEEN LIED TO!

Yes. What else is new?

So every time the Singapore Govt tells you that we (Singaporeans) are the second (as in the table above) or first or third Wealthiest people in the world based on our GDP per capital (on a Purchasing Power Parity), understand that while the figures may be correct, it does not speak to our individual's wealth, but our average contribution to Singapore's productivity. 

Unfortunately, we DO NOT SHARE in the wealth generated by our productivity. Not equally.

To be sure, there are some "star players" in Singapore's economy who are generating huge wealth for the country, and we share some of that "wealth". 

But in all humility and honesty, I don't believe in my best year, I have ever made $100,000 for Singapore, directly or indirectly. 

Have you?

Anyway, based on the first chart, Singaporean's Average Wealth is over half a million dollars, while our Median wealth is about $96,000. 

And the Youtube video should've explained the difference between "Average" (or "Mean") and "Median" (the 50th percentile). And how a few hundred billionaires can skew the average (mean). 

But, look at your reality. 

If you "own" a HDB flat, with your spouse, you might have a few hundred thousand dollars in assets  shared with your spouse. Assuming the flat is fully paid off. If you are still making payments on the flat, then  your asset is not fully owned. And your share of the asset would have to be discounted. Then add your CPF balance. Google suggests that the average CPF balance is about  $155,000 net. Check your CPF balance and add up your actual balance. Plus whatever you have in your bank balance. And if you own a car, and you consider (rather foolishly) that your car is an "asset" (it is not), you can add that too, if it makes you feel richer.

I ran the numbers for myself, and I can take some (foolish) pride that I am above the median (which means I am above the 50th percentile), though it may be a stretch to believe that I am at the average (damn you, Billionaires!!!)

How did you do?