This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

World’s Ultra Wealthy Population Reaches All-Time Record

Stocks in this article: UBS

Despite ongoing economic and geopolitical uncertainties, the world’s ultra wealthy population reached an all-time high of 199,235 individuals with a combined fortune of nearly US$28 trillion in 2013, growing by more than six percent in population size from the previous year and adding US$2 trillion to their combined wealth, greater than the GDP of India.

The Wealth-X and UBS World Ultra Wealth Report 2013 released today also identified more than 2,000 billionaires globally with a total net worth of US$6.5 trillion, equal to 23 percent of the world’s ultra high net worth (UHNW) total wealth. This is more than any other wealth tier despite making up only one percent of the UHNW population.

The report defines UHNW individuals as those with total net assets of US$30 million and above.

Other key findings from the report:

  • Growth was largely due to North America and Europe, with the two regions responsible for a net gain of nearly 10,000 UHNW individuals and a total increase in wealth of US$1.5 trillion.
  • China and Brazil, the fourth and seventh wealthiest UHNW nations in the world, saw a contraction in their UHNW populations and wealth due to economic slowdowns in these countries.
  • Asia rebounded from last year’s contraction, when there were 42,895 UHNW individuals in the region. As of 2013, there are 44,505 UHNW individuals in Asia with a combined wealth of US$6.5 trillion, an increase of 5.4 percent from the previous year.
  • Although the United States and Europe grew faster than Asia in the past 12 months, Asia will produce more UHNW individuals and wealth than both regions in the next five years.
  • The report forecasts that at current growth rates, Asia’s ultra wealthy population and wealth will eclipse that of Europe in 2021 and 2017 respectively. Asia will have a larger UHNW population by 2032 and have a greater total wealth by 2024.
  • Latin America was the only region to suffer a decline, with both its UHNW population and total wealth falling, by 600 individuals and US$75 billion respectively.
  • The global UHNW population continues to be dominated by men, who form 88 percent of the total population. Female UHNW individuals make up the remaining 12 percent, or 23,505 individuals globally. Self-made individuals, forming 65 percent of the population, outnumber individuals who inherited their wealth.
  • The average wealth of an UHNW individual has risen to US$139 million, up US$1.8 million from last year.

Wealth-X quote on the significance of the report

“The Wealth-X and UBS World Ultra Wealth Report 2013 is based on the depth and breadth of our research and analysis from our database, which enables us to provide the most insightful intelligence on the world’s UHNW population for individuals and organisations to make important decisions,” Wealth-X CEO Mykolas D. Rambus said.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs