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- Title
The Changing Nature of Global Wealth Creation: Shifts and Trends in the Ultra High Net Worth (UHNW) Community.
- Authors
MORISON, STEPHEN; LINCOLN, DAVID; KINNARD, BENJAMIN; ZHI YINC NG
- Abstract
The authors analyze the importance of Ultra High Net Worth Individuals (UHNWIs), a select group of 187,000 individuals worldwide, with a combined net worth of $25.8 trillion. Since 1992, this group has increased their wealth by $19 trillion, making it more important than ever for businesses and consumers alike to understand and access UHNWIs. Three key trends have been identified in the last two decades: Wealth has become more concentrated, with the top 1% of UHNWIs now accounting for 20% of the entire net worth. Second, the number of UHNWIs originating in emerging markets has grown at a faster rate than those from Western economies, a trend that has accelerated since the 2007-2008 global financial crisis. Finally, the globalized nature of UHNWIs has led to wealth hot spots in global cities such as London and New York, causing property prices to decouple from the rest of the country's economy. These three trends appear set to continue in the upcoming years, giving invaluable insight to those affected by the future of UHNWIs.
- Subjects
HIGH net worth individuals; RICH people; WEALTH; GLOBAL Financial Crisis, 2008-2009; REAL property sales &; prices
- Publication
Journal of Wealth Management, 2013, Vol 16, Issue 2, p9
- ISSN
1534-7524
- Publication type
Article
- DOI
10.3905/jwm.2013.16.2.009