USA Still Home to the Largest Population of Ultra High Net Worth Individuals.
UBS and Wealth-X recently collaborated to produce a study of UHNWI (Ultra-High Net Worth Individuals, defined as those having investable assets of 50 million or more Swiss Francs). The period surveyed was July 2012 to June 2013 and during this time, compared to the previous year, the number of UNHWI in Europe increased, while in China there was a drop.
Meanwhile Northern America remains the area with the highest population of UNHWI.32% of US UHNW individuals’ net worth is held in liquid assets, the highest percentage out of all focus countries.
The area with fastest growth of UHNWI was the Middle East.
Overall the assets of these UHNWI increased by almost $2 trillion in the past 12 months, and the average wealth of a UNHWI has risen by $1.8m. 88% of the UNHWI population is male; the average is aged 58, is 70% likely to be self-made (so the source of wealth is new rather than inherited) with a net worth of $138m. He is likely to work in banking/finance (20% of the total) and is likely to be chairman (21.9% of total).
Women make up just 12% of the UNHWI population. They are slightly younger (average age 54) and also richer (average net worth $150m). In contrast to the men, more than half of their wealth (53%) is inherited. 15.2% of them work in non-profit and social organisations, and they are more likely to be shareholders (14.6%) than active investors. 12.2% of them are company directors.
Unsurprisingly UHNWI are concentrated in particular areas. More than 19% of UHNWI in the US are in California; in Europe more than 30% are based in Germany; 32% of Asia’s UNHWIs are to be found in Japan, and almost 22% of China’s UNHWI population is located in Beijing. More than 28% of Latin America’s UNHWI are in Brazil; Saudi Arabia is home to more than a quarter of the Middle East’s UNHWIs. Almost 28% of Africa’s UNHWI population is in South Africa.