Ultra-Rich World Getting Much Better

Washington. A naked 0.004 percent of the adult population in the world controls nearly $ 30 trillion in assets, 13 percent of the total wealth of the world, according to a new study released Thursday.

And perhaps unsurprisingly, the study of the Swiss bank UBS and luxury industry consultant Wealth-X said the camp of the money in the hands of the ultra-rich are growing.

The report said 211,275 people who qualify as "ultra-high net worth" (UHNW) - those with assets above $ 30 million. Of these, 2325 have more than $ 1 billion.

Their numbers grew 6 percent from last year, but their wealth grew 7 percent, market assets such as stocks and assets soared in many places around the world.

The fastest growth, in fact, came to the "demi-billionaire" group worth half a billion to a billion dollars apiece, said the study.

"Even in the midst of geopolitical conflicts, socio-economic strife, and volatile currency markets, equity markets around the world shown strong presentation, and thereby enabling UHNW wealth individuals' to and increase their influence across industries and sectors to grow - from their importance in the management of their wealth in the consumption of luxury goods, "it said.

"Such a large concentration of wealth in the hands of a few individuals means that they tend to have a large degree of influence, whether in global equity markets or specific industry."

Nearly $ 30000000000000 controls the elite group, just over one-third are in the hands of tycoons in North America, more than a quarter in Europe and 23 percent in Asia.

Of these, 87 percent were male, the average age of 59, and nearly one-quarter of them are in banking. Of these, 68 percent are "self-made" rich, 13 percent rich by inheritance, and the rest of the combination of the two.

The average ultra-rich woman is 57, and more likely to be involved in non-profit and social organizations (19 percent) than in other sectors. Nearly half have become rich by inheritance, while one-third were self-made wealthy.

As F. Scott Fitzgerald wrote, the rich are different. The average UHNW-ER spent $ 1 million a year on luxury goods and services.

But, pointing out the study, luxury items can be "integral part of their lifestyle and not necessarily considered a 'luxury.'"

"For example, UHNW individuals with private jet use their aircraft are not only for leisure, but also for business purposes. On the other hand, while yachts, superyachts and especially, is usually a non-requirement , many individuals UHNW lead very public lives, and the privacy of a family holiday on a yacht is a very special treat. "

Agence France-Presse


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