analyzes the state of the worlds ultra wealthy population, or those with $30m or more in net worth, which expanded strongly in 2017, rising by 12.9% to 255,810 individuals. This was a sharp acceleration from growth of 3.5% in 2016, reflecting significantly more favorable conditions for wealth creation, despite still volatile geopolitics.
Buoyed by a synchronized upturn in the world economy, rising asset markets, and robust corporate earnings, the combined net worth of the ultra high net worth (UHNW) population increased by 16.3% to $31.5trn, implying healthy gains in average net wealth. A testament to the auspicious economic climate, the ultra wealthy population and its total net worth increased in all seven major regions, contrasting with the diverse performances seen a year earlier.
The Share of Women in the Global UHNW Population Increased
The number of ultra wealthy women totaled just under 35,000, equivalent to a record-high share of 13.7%.
Hong Kong Overtook New York to Become the Worlds Largest UHNW City
Wealth creation was boosted by enhanced links with mainland China. New York posted the weakest growth among the top 10 cities.
Broad-Based Wealth Creation Driven by Robust Increases in Asia and Latin America
All seven major regions recorded growth in their ultra wealthy populations and in combined net worth. The fastest growth was in Asia, which posted an increase in ultra wealth of 27%.
Solid Growth Expected Across the Ultra Wealthy Sector
The global UHNW population is forecast to rise to 360,390 people by 2022, an increase of almost 105,00 compared with 2017. The level of UHNW wealth is projected to increase to $44.3trn, implying an additional $12.8trn of newly created wealth over the next five years.
In addition to revealing a global view of the status and trends of the ultra wealthy, theWorld Ultra Wealth Report 2018also examines this population based on their asset holdings, gender, industry focus, wealth source, education, and hobbies. From this insight, the report reveals information on the typical UHNWI and compares this profile to other ultra wealthy archetypes, including Asian industrialists, self-made female entrepreneurs, wall street financiers, and major donors.
Wealth-X Professional clients can access the reporthere.
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