According to new research published by Knight Frank (The Wealth Report) the total number of UHNWI (ultra high net worth individuals) in 2019 was 513,244. The United States dominated the ranking with 240,575 UHNWI, followed by China 61,587 UHNWI (excluded Hong Kong and Taiwan) and Germany 23,078 UHNWI. In order to be considered as ultra high net worth individuals person must be worth more that $30 million.
In 2019 International Monetary Fund reduced it’s forecast for global GDP growth from 3.5% to 2.9% (lowest in last ten years). But despite this number of high net worth individuals worldwide rose by 6.4%. During 2019 more than 31,000 of new ultra high net worth individuals appeared in ranking. In next 5 years expected highest growth in India, China, Vietnam, Indonesia, Egypt, Tanzania, etc.
UHNWI investment portfolio on average 27% real estate, 23% equity, 17% bonds and fixed income, 11% cash and currencies, 8% private equity, 5% collectables, 3% metals.
Growth of number of ultra high net individuals may be slower this year because of political instability, world economic slowdown and fear of corona virus (it’s hard to predict the influence on worlds economy). But it’s obvious that some individuals will find the way to make a lot of money even in this conditions.
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