The number of the world’s “super wealthy,” or people with over $30 million or more in net worth, reached 226,450 in 2016. This was an increase of 3.5%. The total net worth of these individuals reached $27 trillion, close to double America’s gross domestic product.
According to WealthX, the number will continue to rise rapidly:
Despite heightened geopolitical instability, the global ultra wealthy population is forecast to rise to 299,000 people by 2021, representing an increase of 72,550.
WealthX calls these people the ultra-high net worth (UHNW) population:
New York City was home to more of these people than any other city: THE NEW YORK METROPOLITAN AREA BOLSTERED ITS POSITION AS THE WORLD’S LARGEST UHNW CITY. Two other global financial hubs, Hong Kong and Tokyo, maintained their top-three city status. London remains the largest UHNW city in Europe, but its lead over Paris narrowed sharply. Though China has the world’s third-largest ultra wealthy population, Shanghai came in joint 29th, emphasising the point that robust wealth creation is occurring not just within its top-tier cities.
About 88% of the people covered by the research were male. Two-thirds of the people in the group were “self made.”
And, of course, the university that dominated the educational background was Harvard:
While obtaining an academic degree is certainly no prerequisite for future financial success, the choice of educational establishment can be an important determining factor. Standing out from the crowd is Harvard University, the leading academic institution for today’s ultra wealthy graduates and one that regularly provides the largest number of billionaires. Its attraction is global, with Harvard accounting not only for the highest share of ultra wealthy individuals in the Americas but also in Europe, the Middle East and Africa (EMEA) and Asia-Pacific (based on an individual’s primary business address).