The biggest concerns among ultra-high-net-worth individuals (UHNWIs) — those with $US30 million (£24.2 million) or more in net assets — revolve around how they are going to preserve their vast fortunes, make more money, and who will take over their empires when they die.
That is according to the results of the Wealth Report 2017 by luxury property agents Knight Frank, which surveyed 900 private bankers and wealth advisors representing more than 10,000 clients across the globe and a combined wealth of around $US2 trillion.
The report showed the number of UHNWIs rose by 6,340 in 2016, taking the total to 193,490 across the globe. In other words, more people are getting super-rich.
The “Attitudes Survey” showed that despite geopolitical issues threatening stability across Europe, including the ris of populism, as well as US President Donald Trump’s proposed protectionist policies potentially creating a more independent or isolated America, the biggest concerns for the rich is how they can retain their wealth as well as boost their fortunes:
- 66% are concerned about wealth preservation.
- 60% are concerned about capital growth.
- Just over 50% are concerned about “passing wealth onto the next generation.”
- Only 44% prioritised minimising risk in their investments.
NOW WATCH: JEFF SACHS: Here are the fiscal policies we need to implement so robots don’t take our jobs
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.