Ultra high-net-worth individuals (UHNWI) are defined as having a net worth of at least US$30 million in constant 2018 dollars. It is the wealth segment above very-high-net-worth individuals (>5 million) and high-net-worth-individuals (>1 million). Although they constitute only 0.003% of the world’s population, they hold 13% of the world’s total wealth.
The global UHNW population is forecasted to rise to 360,390 people by 2022, which is a increase of 40%, according to new Wealth-X report. A Solid growth is expected in the UHNW population. The top 10 UHNW countries all experienced double-digit growth in total wealth.
- In 2017, the world’s ultra high net worth (UHNW) population – individuals with a net worth of $30m or more – rose by 12.9% to 255,810 people.
- The US remained by far the leading country for UHNW individuals in 2017, accounting for a 31% share.
- The fastest growth was in Asia, which posted an increase in ultra wealth of 27%.
- Stronger global commodity markets and relatively stable exchange rates against the US dollar also supported UHNW wealth trends, especially in emerging markets.
- Collective wealth in China jumped by 33%, generating large gains in average net worth.
- The share of women in global UHNW population has increased. The number of ultra wealthy women totaled just under 35,000, equivalent to a record-high share of 13.7%
- The global UHNW population is forecast to rise to 360,390 people by 2022, an increase of almost 105,000 compared with 2017. The level of UHNW wealth is projected to increase to $44.3 trillion
- Hong Kong and New York are the top cities for billionaires
- Bangladesh is the fastest growing UHNW country.
Source/Credit: Wealth-X
