Ultra high net worth individuals, or UNHW as new research from Credit Suisse calls them, are concentrated in the United States. Also, the growth of the number of these people has risen worldwide, according to the Credit Suisse’s 2014 Global Wealth Report:
… a rise of 20.1 trillion US dollars in world wealth in the past year, bringing total wealth to 263 trillion. The United States has seen particularly strong wealth creation, where financial crisis losses were trumped in a single year.
The number of so-called ultra high net worth (UHNW) individuals — whose net worth exceeds more than 50 million US dollars — has also risen. The report estimates that there are now 128,200 UHNW individuals worldwide. … the United States leads by a huge margin with 62,900 UHNW adults, equivalent to 49 percent of the global total. This represents an increase of 9,600 compared to mid-2013, an astonishing rise for a single year – more than the total number of UHNW residents in China, which occupies second place with 7,600 UHNW individuals.
The number of wealthy people in the world is expected to grow by 40% between 2013 and 2019 (based on people who are only millionaires).
Not surprisingly, based on its GDP improvements, China’s number is expected to outpace that of all other regions over this period. As a matter of fact, China’s growth rate of people who are just millionaires will double to 2 million. Just behind China will be the growth rate in Indonesia (64%), India (64%), Mexico (57%), Singapore (50%) and Brazil (47%). With these eye-popping numbers, sometime soon these emerging nations may not be called emerging anymore.
Credit Suisse does not devote much research to poor people and their growth rates. That information might not catch any publicity at all.