The World Ultra Wealth Report of 2011 is out. Often called the Little Black Book of Ultra High Net Worth (UHNW) individuals, the World Ultra Wealth Report tracks and analyses super rich individuals with a net worth of $30 million and above. The report is not limited to a single region or industry. Rather, it is a comprehensive list that showcases the richest of the rich in the contemporary world. Wealth-X, a company that specializes in keeping track of the UHNW individuals of the world, carried out the report. Interestingly, other firms have never used the Wealth-X method to analyze UHNW individuals. Professionals from around the world keenly await the World Ultra Wealth Report. The super rich are studied under the categories of county, wealth tier and more – a format that is easy to navigate and browse.
According to the World Ultra Wealth Report 2011, the current UHNW population of the world is now worth over $25 trillion. More importantly, that number is set to rise further, largely due to the Asian growth story. Asia features on the World Ultra Wealth Report 2011 in a big way. The report states that the current population of UHNW individuals numbers at 185,795. But the population is set to grow, again fuelled by the Asia story. One of the main predictions made in the Wealth-X report is that the UHNW population of the Asia-Pacific region is poised to overtake that of Europe in 2024 and that of the US in 2032.
Going by continent, North America continues to be home to the most number of UHNW individuals. The region hosts some 62,960 UHNW individuals. In money terms, North America accounts for 33 percent of the total UHNW wealth. Coming in second is Europe. The region accounts for $6.8 trillion of UHNW wealth and is the chosen residence of 54,325 individuals with net worth of over $30 million. The Asia-Pacific region grabs the third spot, but it is also the fastest growing sector. Currently, the region accounts for a UHNW population of 42,525 and a collective net worth of $6.2 trillion.
But there is more to be gleaned from the Wealth-X report. Even among the numbers of the super rich, there are those that are richer still. According to the report, there are 1,235 billionaires in the world, and they have a collective worth of $4.18 trillion. Additionally, 2.5 percent of the global UHNW population are individually worth $500 million and above. Moreover, this section of the population is instrumental in influencing the fortunes of 25 percent of the super rich.
Wealth-X Chairman David Leppen and CEO Mykolas Rambus unveiled the 2011 edition of the World Ultra Wealth Report at a Geneva press conference on Thursday, 10 November 2011. The report is designed to be a handy reference for luxury brands, non-profit organizations, private wealth managers and others who need to research and work with UHNW individuals. The Little Black Book is different from other reports on the ultra-wealthy because it is perhaps one of the most comprehensive. As Rambus says, “Our report maps exactly where the biggest money is located and just how much there is.”
Via: Market Watch