Our Lords At Play: Better Than Ever

The World's Wealthy, Richer. But, You Knew That

Graphic Depiction Of Wealth, Wealth; More Wealth (UK Guardian)
Click For Huge Graphic Of Them That Has, Getting. Easy And Fun!

Recently, the business consulting firm Capgemini, and investment house Merrill Lynch, released their 'World Wealth Report 2011', which included details of the growth in so-called high net worth individuals (HNWI's) worldwide, their breakdown by age and gender, and how they spend and invest their money.

Jill Treanor at the UK Guardian posted an article about the report, stating frankly that the world's wealthiest people "have now recouped the losses they suffered after the 2008 banking crisis. They are richer than ever... than before the recession struck" (You can see details from the C/M-L report here).

We are not all in this together... According to the annual world wealth report by Merrill Lynch and Capgemini, the wealth of [High Net-Worth Individuals; HNWI's] around the world reached $42.7 Trillion [US]... in 2010, rising nearly 10% in a year and surpassing the peak of $40.7 T reached in 2007, even as austerity budgets were implemented by many governments in the developed world.

The report also measures a category of "ultra-high net worth individuals" – those with at least $30M [each of discretionary, 'free cash] rattling around, looking for a home. The number of individuals in this super-rich bracket climbed 10% to a total of 103,000, and the total value of their investments jumped by 11.5% to $15tn, demonstrating that even among the rich, the richest get richer quicker. Altogether they represent less than 1% of the world's HNWIs – but they speak for 36% of HNWI's total wealth...

Age also helps: more than eight out of 10 of the world's wealthiest people are aged over 45. So does being male: women account for just over a quarter of the total – though this is slightly higher than in 2008. The highest proportion of wealthy women is in North America – 37% of HNWIs – while the lowest is in the Middle East, which has 14%...

The performance of investments made by wealthy individuals in shares and commodities, and their willingness to take more risks, helps drive their wealth, which in turn fuels "passion" purchases of multimillionaire must-haves, ranging from Ferraris to diamonds, art and fine wines. Demand for such luxuries is especially high among the growing number of wealthy individuals in the emerging markets...

Nice.

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