More than $15 trillion in wealth will be transitioned from one generation to the next by the year 2030, says a new report from Wealth-X, a global ultra high net worth
intelligence and data company.
However, wealth mangers said that the wealth of high net worth individuals (HNWIs) and ultra high net worth
individuals (UHNWIs) with over $30 million in wealth will grow in the coming years.
The firm said that it has appointed Gabriel Tam as regional head of Ultra High Net Worth
(UHNW) Solutions, Asia.
It is the company's family office advisory and wealth management business for ultra high net worth
The report also found that ultra high net worth
individuals had increased philanthropic activities over the past 10 years and that they had become more conscious about displaying their wealth in public."After years of considerable growth in the number of wealthy around the world, we are entering a period of deceleration as China's economy slows and commodity-exporting, emerging economies are hit by lower prices and demand.
Saudi Arabia and the UAE jointly account for over 45 percent of the UHNW (ultra high net worth
) population in the Middle East, a new Wealth-X study has found.
Forty percent of the Middle East's Ultra High Net Worth
wealth is held by the region's 157 billionaires, compared to 28%inEurope,22%inNorthAmerica and 18% in Asia, according to the report.
Cerulli Associates discloses this finding in a report, "High Net Worth and Ultra High Net Worth
Markets 2013: Understanding the Contradictory Demands of Multigenerational Wealth Management." The sixth annual survey analyses the market size, structure and developments among the high net worth (those with investable assets greater than $5 million) and ultra-high net worth (more than $20 million) markets.
2,000 billionaires globally The report also identified more than 2,000 billionaires globally with a total net worth of $6.5 trillion, equal to 23 per cent of the world's ultra high net worth
(UHNW) total wealth.
For the third year in a row, Credit Suisse has been named as the most outstanding institution for its Ultra High Net Worth
(UHNW) service offering ($30 million plus) at the Australian Private Banking and Wealth Awards.
A report issued by research company Wealth-X, said the total number of ultra high net worth
individuals in Qatar stood at 300 in 2012 compared to 290 during the previous year.
Summary: From cricket to accountancy, 11 things you probably didn't know about Ultra High Net Worth
Indians and Non-Resident Indians