The Wealth-X and UBS World Ultra Wealth Report 2014 shows that 12,040 new ultra high net worth (UHNW) individuals were added in 2014 which pushes the global UHNW population to a record 211,275, a 6% increase from 2013.
The combined wealth of the world’s UHNW individuals – defined as those with US$30 million and above in net assets – increased by 7% to US$29.725 trillion in 2014, almost twice the GDP of the world’s largest economy, the United States.
The United States maintains its position as the world’s top UHNW country in 2014 with a population of 69,560 UHNW individuals with a combined net worth of over US$9.6 trillion, a 6% and 7% increase respectively from last year.
The Wealth-X and UBS World Ultra Wealth Report 2014 forecasts that the global UHNW population will reach 250,000 individuals in the next five years. The report also predicts that Asia will be the region that sees the fastest growth in UHNW wealth, overtaking Europe in terms of UHNW wealth in the next ten years.