Almost every person who is aware about the modern economic system and business industry not surprise to hear this report by the Swiss bank UBS and luxury industry consultant Wealth-X, which higlighted the fact that the concentration of money, in the hands of the ultra-rich, is growing day by day.
The report categorize 211,275 people as ultra high net worth (UHNW) individuals. An individual is classify as UHNW if they have assets above $30 million. Among these 211,275 UHNW, 2,325 are those who have asset more than $1 billion.
It was stated in the report that,
“Even amidst geopolitical conflicts, socio-economic strife, and volatile currency markets, the world’s equity markets displayed strong performances, thereby enabling UHNW individuals’ wealth to increase and their influence across industries and sectors to grow from their importance in wealth management to their consumption of luxury goods,”.
“Such a large concentration of wealth in the hands of these few individuals means that they tend to have a large degree of influence, whether on global equity markets or specific industries.”
This elite group own almost $30tr , and among these $30tr only one-third is in North America, more than one-quarter in Europe, and rest in Asia.
This elite group own almost $30tr , and among these $30tr only one-third is in North America, more than one-quarter in Europe, and rest in Asia.
Further, the statistics shows that 87pc are men, and almost one-quarter of them are associated with banking. Only 68pc were those who are regarded as “self-made” rich, while 13pc are those who are rich by inheritance. The remaining are both self made rich and rich by inheritance.
In case of woman there were 57 woman were found to associated in non-profit and social organizations. One third woman were self made rich while rest were wealthy through inheritance.
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