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Global ultra wealthy population reaches record high of 211,275 individuals with combined net worth of USD30trn

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Some 12,040 people joined the ranks of the new ultra high net worth (UHNW) individuals, pushing the global UHNW population to a record 211,275, a six per cent increase from 2013.

The combined wealth of the world's UHNW individuals – defined as those with USD30 million and above in net assets – increased by 7% to USD29.725 trillion in 2014, almost twice the GDP of the world's largest economy, the United States.

 
North America and Europe continue to dominate the global landscape as the regions with the largest UHNW population and wealth. The United States maintains its position as the world's top UHNW country in 2014 with a population of 69,560 UHNW individuals with a combined net worth of over USD9.6 trillion, a 6% and 7% increase respectively from last year.
 
The Wealth-X and UBS World Ultra Wealth Report 2014 forecasts that the global UHNW population will reach 250,000 individuals in the next five years. The report also predicts that Asia will be the region that sees the fastest growth in UHNW wealth, overtaking Europe in terms of UHNW wealth in the next ten years.
 
The world's UHNW population accounts for only 0.004% of the world's adult population, but controls almost 13% of the world's total wealth.
 
North America's UHNW population grew by 6.2% to 74,865 individuals and their combined net worth rose 6% to USD10.3 trillion.
 
Europe's UHNW population expanded by 6.5% to 61,820 individuals and their combined net worth rose nearly 9% USD8.4 trillion.
 
There are almost twice as many UHNW individuals in Asia than in the Middle East, Latin America and the Caribbean, Africa and the Pacific regions combined. Yet, Asia's UHNW population grew by only 4.8% to 46,635 individuals and their total net worth rose by less than 6% to nearly USD7 trillion. Only Latin America and the Caribbean had lower growth rates.
 
Latin America and the Caribbean saw the slowest UHNW population growth of any region. The region's UHNW population grew by 4.6% to 14,805 individuals and their combined net worth rose 5.5% to USD2.2 trillion. This performance, however, indicates a recovery from last year's decline.
 
The UHNW population of the Pacific grew by 5.4% to 4,170 individuals and their combined net worth rose 6.2% to USD515 billion.
 
The Middle East saw the fastest growth in terms of both UHNW population and wealth for the second year in a row. The region's UHNW population swelled to 5,975 individuals with a combined net worth of almost USD1 trillion, a 12.7% and 13.1% increase since 2013, respectively.
 
Africa experienced the second fastest growth in terms of UHNW population and wealth, with an 8.3% increase in the region's UHNW population (3,005) and 12.9% growth in UHNW wealth (USD395 billion).
 
There are 183,810 male UHNW individuals as of 2014, and 23.6% are involved in the finance, banking & investment industry, a 3.6% increase from last year. There are 27,465 female UHNW individuals as of 2014, and 48% of them fully inherited their wealth, a decline from 53% in 2013.
 
Almost USD13 trillion of the world's UHNW wealth is held in private company holdings, nearly twice the amount held in public company stakes. Some 64% of the world's UHNW population is self-made and only 17% have fully inherited their wealth. The world's UHNW population is a significant source of revenue for the luxury industry, accounting for almost 19% of the luxury industry's market.
 
The Wealth-X and UBS World Ultra Wealth Report 2014 – which looks at the global UHNW population from July 2013 to June 2014 – examines this wealth segment by geographical location, gender, and sources of wealth.
 

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