The number of ultra high net worth
individuals (UHNWIs) in Asia-Pacific is forecast to overtake Europe
in 2024 and will overtake the US super rich community in 2032, new
research suggests.

The first annual World Ultra Wealth Report
2011 by information providers Wealth-X estimated there are
185,795 ultra rich globally holding an estimated $25trn.

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Asia-Pacific currently occupies third place
with 42,525 UHNWIs, representing $6.2trn, with Japan’s having
13,000 ultra rich, Mainland China is home to 11,475 super rich and
India 8,200.

It is close on the heels of Europe, the
world’s second largest UHNW base, which is home to 54,325 UHNWIs
with a collective fortune of $6.8trn.

 

Total UHNWIs numbers
disputed

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The Wealth-X estimates differ substantially
from the
Merrill Lynch/Capgemini World Wealth Report figures
which said in 2010 the global population of UHNWIs was 103,000 and
their total wealth was only $15.4trn.

Wealth-X, which defines UHNWIs as holders of
at least $30m in investible assets, said North America remains the
home to the largest community of world’s ultra wealthy at
62,960.

Germany has 15,925 ultra rich, 10,450 UHNW
reside in the UK with Switzerland being in third place with 5,400
UHNWIs.

 

BRIC surprise

The research also revealed that Russia, which
ranks fourth among BRIC countries in UHNWIs, is estimated to have
at least 1,285 ultra wealthy with collective net worth of
$675bn.

The country is said to have 80 US dollar
billionaires with combined wealth of $535bn, meaning that 6% of
Russia’s ultra-wealthy control almost 80% of the wealth owned by
the country’s UHNW community.

 

World’s billionaires control 17% of
global ultra wealth

Wealth-X’s research estimated there are 1,235
billionaires globally, with a combined net worth of $4.18trn.

The research found that 2.5% of world’s
UHNWIs, who are worth $500m and above, control 25% of UHNW wealth
globally.