Super-Rich Population at All-time High


    The world’s population of super-rich individuals (those with assets of at least $30 million) reached an all-time high of 199,235 individuals with a combined fortune of nearly $28 trillion in 2013, says a report on the ultra-wealthy from Swiss bank UBS AG and research firm, Wealth-X. This represents growth of more than six per cent in population size from the previous year. The U.S. was a big contributor to that growth, with the ranks of the rich growing by 8.7 per cent year-over-year. Their total fortune was up almost 10 per cent to over $9 trillion. However, for Canada, it was a tougher year for the super-rich. The population of ultra-high net worth individuals (UHNW) actually declined modestly from 5,015 in 2012 to 4,980. Their estimated fortune remained steady at $595 billion. Asia saw a 5.4 per cent year over year increase in the combined wealth of its UHNW population. And, the report predicts that Asia will see greater growth in its UHNW population, and assets, than North America and Europe over the next five years.