The 2005 World Wealth Report offers some very fascinating information on the world's wealthy. I found the following information particularly interesting and thought you would as well:
- The world’s high-net-worth wealth grew strongly in 2004 for a second consecutive year, increasing 8.2 percent to $30.8 trillion.
- The number of high-net-worth individuals (HNWIs) — individuals with a net worth of at least U.S. $1 million, excluding their primary residence — grew by 7.3 percent to 8.3 million, a net increase of 600,000 worldwide. North America led with a nearly 10 percent growth rate to 2.7 million HNWIs, surpassing the 2.6 million in Europe. Asia-Pacific’s growth rate of over 8 percent — to 2.3 million HNWIs — was twice that of Europe.
- Singapore, Hong Kong, Australia and India saw the highest rates of HNWI population growth, while wealthy people in South Africa and the Middle East benefited from the rise in commodity and oil prices. Growth generally lagged in Europe, with only two nations — the United Kingdom and Spain — showing growth comparable to the worldwide rate.
- As wealth continues to grow, the report notes that HNWIs with financial wealth between $5 million and $30 million are facing particular challenges in managing their increasing net worth.
- After 2004, a year that marked the strongest economic growth worldwide in 20 years, growth is expected to temper in 2005. A combination of factors, including rising inflation and interest rates, is expected to slow global growth and affect the value of financial assets. As a result, global high net worth wealth is projected to grow at a compound annual rate of 6.5 percent over the next five years, reaching U.S. $42.2 trillion by 2009.
One thing I'm looking forward to: "facing the particular challenges in managing my increasing net worth" when I get between $5 million and $30 million. ;-)
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