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September 27, 2016 at 08:41 AM
There are 212,615 ultra high net worth (UHNW) individuals globally holding a combined wealth of US$30 trillion in net assets, according to new research.
Wealth-X discloses this finding in “World Ultra Wealth Report 2015-2016,” the 4th edition of an annual study. The research analyzes the wealthiest individuals worldwide with a focus on geography, lifestyle, social networks, philanthropic behaviors, motivations and legacy.
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The study shows almost flat growth in 2015 as the number of individuals with US$30 million or more in net assets grew just 0.6 percent and total UHNW wealth increased by 0.8 percent. Despite this meager growth, UHNW individuals, who account for just 0.004 percent of the world’s adult population, still control 12 percent of its wealth.
The World Ultra Wealth Report also uncovers several regional differences in UHNW growth trends. In Europe, the Middle East and Africa UHNW wealth fell 2.4 percent as equity markets, local currencies and gross domestic product collectively experienced negative net returns.
By contrast, Asia-Pacific experienced a 3.9 percent rise as the ultra-wealthy in certain markets continued to benefit from dynamic business expansion and economic growth. In the Americas, it was Latin America, rather than North America, that helped the region achieve a modest 1.5 percent growth in ultra-wealth value.
Across all geographic regions, the highest ranks of the UHNW population are experiencing the most success. The report highlights that in 2015 billionaires saw their wealth grow 5.4 percent, more than double the rate of global economic growth.
Collectively, other tiers saw their wealth shrink by 0.6 percent.
