This Is the Most Expensive City, Even for the Richest People in the World

This Is the Most Expensive City, Even for the Richest People in the World

This city is the most expensive even for the wealthiest people in the world. Its outrageous prices deter many affluent people, and those who do reside here face significant financial challenges. The cost of rent and healthcare is exceptionally high, and owning a car can quickly deplete one's finances.

Online, Conf OPS Widget Swiss bank Julius Baer analyzed the prices of 20 goods and services across 25 cities, identifying those with the highest "cost of living." The criteria for such a lifestyle include luxury items like upscale housing, jewelry, fine dining, and other extravagances accessible only to the ultra-rich.

Singapore, the island city-state often regarded as the "capital" of Southeast Asia, topped this list, surpassing cities like Hong Kong and London.

"The Singaporean government is actively cultivating the country as an attractive hub for businesses and wealthy individuals, and its robust currency reflects its top rank among the world's most expensive cities," concluded the bank's report.

Who are these people? According to Forbes magazine, the wealthiest person in Singapore today is Eduardo Saverin, co-founder of Meta Platforms, which owns Facebook, WhatsApp, and Instagram. Saverin has been a resident for a decade. Following him are brothers Robert and Philip Ng, prominent developers reshaping Singapore. Their father, known as the "King of Orchard Road," moved from China to Singapore in 1934, founding their company.

Not only business magnates but also renowned figures like actors Jackie Chan and Jet Li have invested in Singapore, owning multimillion-dollar properties. Emmanuel Stroobant, a celebrated Belgian chef, operates multiple restaurants in Singapore and resides there. James Dyson, British entrepreneur and founder of Dyson technology company, has also acquired residential properties on the island.

Visitors to Singapore might even chance upon these celebrities at iconic spots like Marina Bay Sands, dubbed the new "wonder of the world," or in cafes at Madame Tussauds wax museum, where wax figures of Dwayne Johnson, David Beckham, Barack Obama, and Taylor Swift can be found. Incidentally, Taylor Swift's grandmother and mother lived in Singapore in the 1960s, fostering a special connection with the island, although she prefers living in her mansions in the United States.