A Global Explosion in Ultra High Net Worth Individuals
Courtesy of Joshua M Brown
UBS and Wealth-X are out with a massive, 53-page report on the state of the global ultra high net worth (UHNW) population in 2014.
The broad strokes of what’s gone on can be observed in the below table:
What should jump out at you:
* While the total population of UHNW people grew by 6%, their combined wealth grew by 7% from 2013 to 2014. The rich got richer, faster.
* The richer you were, the faster pace your wealth grew, for the most part. You can see that the top three tiers of UHNWs saw a double-digit rate in asset growth versus half that rate for everyone else.
* The real explosion took place in the near-billionaire category of $750 to $999 million. Their ranks grew by 19.9% this year and their wealth grew by over 15%. That’s tremendous.
* The largest two groups of people are individuals with somewhere between $30 million and $99 million in wealth. Combined, these tiers add up to over 150,000 “aspirational” UHNWs globally. They haven’t seen the same lift as those at the top, but I’m sure they’re doing fine.
I’ll have more insights from this report later…
Source:
WORLD ULTRA WEALTH REPORT 2014 (Wealth-X)
