More than 1 mil­lion

The Guardian Weekly - - Finance -

peo­ple en­tered the global ranks of the wealthy last year as boom­ing stock mar­kets in­creased the num­ber of in­di­vid­u­als with free as­sets of more than $1m to a record 16.5 mil­lion. Re­search by Capgem­ini found that the world’s high net worth in­di­vid­u­als (HNWI) col­lec­tively hold a $63.5tn for­tune. In or­der to qual­ify as an HNWI, a per­son’s as­sets – ex­clud­ing their pri­mary res­i­dence and its con­tents – must be worth at least $1m. Cliff Evans, one of Capgem­ini’s re­searchers, said the re­port showed that the al­ready rich were get­ting richer at a much faster rate than the wider pop­u­la­tion. “For peo­ple with a lot of money the ser­vice they’re get­ting from in­vest­ment man­agers is prov­ing its worth,” he said.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.