Sharp rise in very high net worth population says Wealth-X

Those with net worth of between U$5m and $30m rose more than 10% in 2019

Sharp rise in very high net worth population says Wealth-X
Steve Randall

The global population of some of the world’s most wealthy people increased by more than 10% in 2019 to 2.7 million, 10 times the growth of the previous year.

The new Very High Net Worth Handbook from Wealth-X shows that those with net worth of between U$5 million and $30 million had a combined fortune of $26.6 trillion, also an increase of more than 10%.

Most major regions saw an increase but it was North America that led the way with increases in the population of VHNW individuals and their net worth of around 15%. There was also double-digit growth for Asia and Africa.

In the US, the VHNW population grew almost 16% and their combined wealth accounted for more than 36% of the global total, while China and Japan combined make up 60%.

Most of the VHNW individuals are self-made (80%) while the rest have a combination of inherited and self-created wealth or just inheritance. The share of self-made individuals rises to 96% in China.

Women are more likely to have inherited their wealth or inherited and also created their own wealth.

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