Singapore wealthy people definition

I think that the definition of wealthy people is very vague as one will think of it as the spending power of a person. If a person saves a few millions of dollars and is still unable to spend any part of it, it makes him look poor. All things aside, 50k in the bank is probably quite easy to attain as I am able to do it before I even hit even 21 with my savings. But hard to say as there are some people who spend every penny that they earn.