Wednesday, June 29, 2016
Asian Millionaires Now Control More Wealth Than Those In North America
The amount of wealth owned by the globe’s millionaires continues to rise every year. Between 2014 and 2015, the wealth controlled by millionaires across the world grew 4 percent to $58.7 trillion, according to finance firm Capgemini. The global HNWI population (high net worth individuals controlling assets of $1 million or more) is also increasing, having expanded 4 percent in 2015 to 15.4 million.
Asian millionaires now control more wealth than those in North America, primarily driven by financial services, technology and healthcare. Capgemini found that Asia’s millionaires were worth $17.39 trillion at the end of 2015, slightly ahead of North America’s $16.61 trillion.
Japan and China were the engines of global HNWI growth in 2015, with both registering double-digit increases in their millionaire populations. The two countries also drove almost 60 percent of HNWI population growth worldwide last year. Under the most aggressive growth scenario, the amount of wealth controlled by the planet’s millionaires could reach $100 million by 2025, almost three times the 2006 amount.
Source: •Asia's Millionaires Control The Most Wealth | Statista.