According to Credit Suisse’s 2014 Global Wealth Report, there are 128,200 ultra-high net worth (UHNW) individuals in the world. These are the folks whose net worth exceeds $US50 million.
That’s up from 98,700 a year ago.
“The number of HNW and UHNW individuals has grown rapidly in recent years, reinforcing the perception that the very wealthy have benefitted most in the favourable economic climate,” Credit Suisse analysts write.
“Between 2008 and mid-2014, mean wealth per adult grew by 26%; but the same period saw a 54% rise in the number of millionaires, a 106% increase in the number with wealth above $US100 million, and more than double the number of billionaires.”
So, where can we find the world’s 0.0017994134%?*
Most of them can be found in the US. Here’s Credit Suisse:
“Among individual countries, the United States leads by a huge margin with 62,800 UHNW adults, equivalent to 49% of the group total. This represents an increase of 9,500 compared to mid-2013, an astonishing rise for a single year — more than the total number of UHNW residents in China, which occupies second place with 7,600 residents (6% of the global total). the United Kingdom gained the second largest number of UHNW individuals (up 1,300 to 4,700) consolidating fourth place, behind Germany (5,500), but ahead of France (4,100). Taiwan (2,000) and Korea (1,900) each added about 550, while Brazil (1,900), Canada (2600) and Hong Kong (1,500) gained 200 apiece. the numbers for Russia (2,800) and India (1,800) were almost unchanged.”
“[L]ittle can be deduced about inequality trends from the fact that the number of millionaires and billionaires is growing faster than average wealth,” the analysts argue. “[T]his is almost certain to hap pen when wealth is growing, regardless of whether inequality is rising or falling.”
Business Insider Emails & Alerts
Site highlights each day to your inbox.