Last year, TikTok's founder moved his family office to Singapore.
20 Chinese billionaires made the same move.
And so did Sergey Brin, James Dyson and Ray Dalio - Because they all saw something others didn't.
Here's 7 reasons why the ultra-wealthy want their money here: 🧵 https://t.co/1EMmACnVP6
First, some context:
On August 9, 1965, Malaysia's PM Tunku Abdul Rahman announced Singapore's expulsion from the federation.
Lee Kuan Yew cried on national TV... https://t.co/MZQNJcL6uV
His country had no water supply, army, or natural resources.
They gave Singapore a 10% chance of survival.
Lee had one plan: Make Singapore so valuable to the world that it couldn't be bullied.
Here's how: https://t.co/YDM5EKSctL
He started by building the Port of Singapore Authority in 1966.
Within 5 years, it handled more cargo than the entire Malaysian peninsula.
The strategy worked through 5 key moves: https://t.co/4lfiuNvIu2
1. English became the main language in 1966
2. National service started in 1967
3. Public housing program launched in 1968
4. Jurong Industrial Estate built in 1969
5. Singapore Airlines founded in 1972
Fly to 2024, here're 7 reasons why Singapore is the Switzerland of Asia: https://t.co/e0yM69venF
1. TAX STRUCTURE
Today, a tech founder making $500K in Singapore pays just $98K in tax.
The same income would cost:
- $225K in California
- $237K in London
- $275K in Berlin
This isn't an accident. It's a 60-year strategy. https://t.co/ugW8kJoeSJ
DBS Bank's Chairman Peter Seah shared a key insight:
"Singapore doesn't just offer low taxes. We offer tax certainty."
No retrospective taxes. No sudden changes. No political flip-flops.
This predictability attracts more wealth than low rates alone.
2. BANKING SYSTEM
In 2009, Swiss banks lost their secrecy advantage.
Singapore's Monetary Authority (MAS) saw an opportunity.
They built a system that protects privacy while staying fully compliant with global rules.
Result? $3.5T in managed assets by 2023. https://t.co/i4laRhVTFl
3. STABILITY
While Hong Kong saw protests in 2019, Singapore stayed calm.
This triggered the largest wealth migration in Asian history.
Over 20 Chinese billionaires, including TikTok's Zhang Yiming, moved their family offices here.
Money follows safety. https://t.co/rtuyVR2iLT
The numbers tell the story:
From 2019 to 2023:
- Hong Kong lost $56B in capital
- Singapore gained $67B
- 1,500 companies relocated
- 5,000 millionaires moved here
4. LOCATION
Changi Airport connects to 400 cities worldwide.
The port handles 37.5M containers yearly.
But here's the key: Singapore controls the Strait of Malacca, where 40% of global trade passes.
Geography becomes destiny. https://t.co/FalIWA7ahC
5. LEGAL POWER
Chief Justice Sundaresh Menon made this system different:
Cases get resolved in 6 months, not years.
Contracts are enforced 95% of the time.
International firms are now choosing Singapore courts over London courts. https://t.co/lQsIKzKH1p
6. TALENT PIPELINE
Minister Josephine Teo launched the Tech Pass in 2020.
Requirements:
- $250K yearly salary
- 5 years experience
- Major achievements
Within 2 years, 100 tech founders moved their startups here. https://t.co/fboltLBqjJ
The National University of Singapore (NUS) partners with:
- MIT
- Stanford
- Tsinghua
- Cambridge
Each year, 2,500 tech graduates enter the workforce.
Companies follow talent. Talent follows education. https://t.co/9KHXCU2Iam
7. LIFE QUALITY
The Urban Redevelopment Authority's master plan ensures:
- 95% of homes near parks
- 180 miles of park connectors
- 80% of homes near train stations
They're building a "15-minute city" where everything's nearby. https://t.co/z1bGlzKgNt
Health Minister Ong Ye Kung's 2023 report showed:
Singapore spends $2,800 per person on healthcare.
The US spends $12,300.
Yet Singapore's life expectancy is 4 years longer.
Smart design beats big spending.
But when it comes to economics...
Economic Development Board (EDB) set 2030 targets:
- 50 unicorn startups
- 100% green energy
- Digital Singapore dollar
- Asia's top biotech hub
They're planning 50 years ahead while others plan 5. https://t.co/UY7UiXy8YV
Every dollar has a 50-year view.
Prime Minister Lawrence Wong announced in January 2024:
$5B for AI development
$3B for quantum computing
$2B for space tech
Singapore is ready for the future ahead. https://t.co/w9cAqPnFgG
And here's me saying the quiet part out loud:
Singapore has built the dream destination for billionaires.
What do you think? Would you move to Singapore?
A bit bout me:
• Former #1 poker player in Singapore (Won $3m)
• Acquired 5 businesses - Did a 152x from $2.5k MRR to $380k MRR in 2.5yrs
• AI Agent Nerd
Now, I help businesses build AI agents so their teams can 10x quality output.
Work with me here: https://t.co/QQJ5N3mQuv
I hope you found this thread helpful.
Follow me @wayneyap for more.
Also consider liking/RT-ing the first post below :)
