JPMorgan Corporate Challenge: Running the numbers
The challenge has become a regular fixture in Singapore, an annual 5.6-kilometre run from the city’s National Gallery to its F1 Pit Building.
It’s a gathering of clients and bankers in which one can easily be jarring elbows with a billionaire.
When running it, the question occurs: what are all these people worth? And now JPMorgan has worked it out.
According to the bank, 14,301 people from 324 companies took part. Of those, 130 are listed and have a combined market capitalization of $5.9 trillion. Euromoney found itself near to JPMorgan’s Singapore country officer, Edmund Lee, and we reckon he’s worth a few quid as well.
What’s not clear is the combined net worth of the many people not representing listed companies, such as the private client arm, but you can assume it’s large: these days JPMorgan turns its nose up at clients below the ultra-high net-worth level. Perhaps it was fitting that the race was won by Fraser Thompson of Alphabeta (SG), an unlisted strategy advisory business serving, among other things, high-wealth private clients.
Euromoney’s own modest contribution to the net worth of the race must sadly be discounted, as a lightning storm delayed the start so long we were forced to abandon it and go to the theatre.