Wealth-X released their much anticipated World Ultra Wealth Report with updated 2015-2016 data. The findings are particularly illuminating in this election year of change. The report found that there are 212,615 ultra high net worth (UHNW) individuals globally holding a combined wealth of US $30 Trillion in assets. This represents flat growth from the prior year but despite small growth, UHNW individuals still control 12% of the world’s wealth while representing just .004% of the world’s adult population.
Global wealth performance is a significant factor for Miami’s real estate market due to its consistently global participants. In Europe and the Middle East, wealth fell 2.4% but in the Americas, it was Latin America rather than North America that helped the region achieve a modern 1.5% growth in ultra wealth value. Across all geographic regions, it is the highest ranks of the UHNW population who are experiencing the most success. Interestingly, 2015 billionaires saw their wealth grow 5.4% more than double the rate of economic growth.
Most key findings show that UHNW wealth is expected to grow at a compound annual growth rate of 9% and the population itself is expected to exceed 318,000 by 2020. Sadly, female UHNW population remained steady at 13% but their share of total UHNW wealth fell from 14% to 11% this year. Male wealth increased 2.4%. Finance, banking and investment remain the top UHNW industry and in 2 out of 3 cases, wealth is purely self-made rather than inherited. For all these important stats and more, reach out to me to receive the full report and to discuss what these trends mean for you and your real estate portfolio!
With more than 15 years of success selling South Florida area real estate, Anna Sherrill is both respected and sought after by clients who trust her ability to maximize their purchase or sale experience. If you’re considering buying or selling an extraordinary residence, contact her today.