In its latest study, Credit Suisse estimates suggest that worldwide there are 98,700 UHNW individuals, those with net assets exceeding USD 50 million. Of these, 33,900 are worth at least USD 100 million and 3,100 have assets above USD 500 million. North America dominates the regional ranking, with 48,000 UHNW residents (49%), while Europe has 24,800 individuals (25%), and 21,790 (22%) reside in Asia-Pacific, including China and India.
Number of Millionaires in 2013 and 2018 by Regions, Selected Countries and World
|Asia-Pacific (inc. China & India)||6,571||11,488||75%|
Table 3: UHNWIs 2013: Selected Countries
|Country||UHNWIs (> USD 50 Million)||% of Global Total|
Wealth of Nations: Top 10 Countries with the Highest Average Wealth per Adult in Mid-2013 (USD)
The richest nations, with wealth per adult over USD 100,000, are found in North America, Western Europe, and among the rich Asia-Pacific and Middle East countries. They are headed by Switzerland, which in 2011 became the first country in which average wealth exceeded USD 500,000. It dropped below this mark in 2012, but this year equity price rises resulted in a new peak value of USD 513,000 per adult (see table 4).
Table 4: Top 10 Countries with the Highest Average Wealth per Adult in Mid-2013 (USD)
|Ranking||Country||Average wealth per adult||Change since mid-2012 (%)|
While the wealth pyramid provides a “snapshot” of wealth at a given point of time, individuals are constantly moving between the various strata. Credit Suisse looks at wealth mobility to supplement what is known about changes in individual wealth positions.
The percentage of billionaire “stayers” is broadly similar across countries, although there are some notable outliers and some interesting wealth mobility differences between countries:
- France, Italy and Japan might be expected to have a lower percentage of “stayers” because their billionaire ranks shrank considerably over the decade.
- Canada, Germany and the UK also have fairly low retention rates.
- The US has by far the highest fraction of stayers, with 78% of the 2000-01 billionaires surviving to 2005 and 65% remaining in 2010. This may reflect that US billionaires have higher mean wealth, so they have to fall further on average to exit the group. Also, they face little or no exchange rate risk; whereas in other countries, entry and exit from the billionaire list may be due simply to fluctuations in the USD exchange rate.
- Of the BRIC countries, a notable feature for China is the sharp increase in the number of billionaires after 2005, reflecting the rapidly lengthening upper tail of the Chinese wealth distribution, resulting in high upward structural mobility.
- Of the BRIC countries, billionaires have the highest chance of surviving in Russia. The number of Russian billionaires more than doubled from 2005 to 2010, so the high survival rate likely reflects low downward structural mobility in the upper wealth tail, as well as higher than average wealth among world billionaires and – quite possibly – state protection of billionaire interests leading to lower exchange mobility at the top end than seen in other countries.
From: Credit Suisse
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