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Wealth

March 6, 2013

The number of high net worth individuals worldwide is set to swell by 50% over the next 10 years, with Latin America and Asia seeing the fastest growth, according to the Wealth Report 2013.

The number of high net worth individuals worldwide is set to swell by 50% over the next 10 years, with Latin America and Asia seeing the fastest growth, according to the Wealth Report 2013. However, it is the cities of New York, London and Paris that will continue to remain most popular with the ultra-rich.

January 3, 2013

This year is being touted as the one of recovery, but for the world’s richest people 2012 proved quite a good year. 

This year is being touted as the one of recovery, but for the world’s richest people 2012 proved quite a good year.

In fact, according to the Bloomberg Billionaires Index, a daily ranking of the 100 wealthiest individuals globally, the world’s richest got even richer last year – boosted by huge rises in global stock markets.

Overall, they added $241 billion (€183 billion) to their collective net worth, to a total of $1.9 trillion at the market close on 31 December.

November 29, 2012

The family office of Theophilus Danjuma – one of Africa’s wealthiest individuals – comes with plenty of compliance headaches. Campden speaks to its principal about investing – and why he wants more regulation. 

The Danjumas are not your ordinary wealthy family. Whenever their family office wants to work with a new bank, its chief executive Geoffroy Dedieu sends over “at least” two arch-level files of information on the family. And that’s just to do the “smell test”, before due diligence is even considered. Then, so long as the smell test is okay, it’ll take another four to six months before the relationship finally gets off the ground.

October 10, 2012

The number of millionaires globally is set to increase by 18 million to 46 million in 2017, despite big falls in wealth over the last year. 

The number of millionaires globally is set to increase by 18 million to 46 million in 2017, despite big falls in wealth over the last year.

That’s according to research by Credit Suisse, which said Europe lost almost $10.9 trillion (€8.4 trillion) in household assets in the year to June while Asia-Pacific shed about $1.4 trillion, as economic uncertainty continued to take its toll.

October 10, 2012

European family office Maroon has teamed up with a Hong Kong-based hedge fund to launch an Asia-focused portfolio.

European family office Maroon has teamed up with a Hong Kong-based hedge fund to launch an Asia-focused portfolio.

According to Reuters, the Asian investment vehicle of Maroon has invested $25 million (€19.4 million) in a hedge fund that will focus on making profits from activities such as mergers, sales and restructurings.

Called the Ardon Asia Fund, it has an initial capital of $26.5 million, with other outside investors providing $1.5 million.

September 28, 2012

Brencourt Advisors, the New York-based hedge fund established by William Collins, is reportedly planning to return money to its outside investors and convert to a family office.

Brencourt Advisors, the New York-based hedge fund established by William Collins, is reportedly planning to return money to its outside investors and convert to a family office.

According to reports in the financial press, Brencourt, which manages about $300 million (€233.3 million), is finding it difficult to raise money in the current economic environment.

September 25, 2012

Is wealth generation on the move again, this time from east to west? If two different rich lists, published by Forbes in the US and Hurun in China, are anything to go by, that appears to be the case.

Is wealth generation on the move again, this time from east to west? If two different rich lists, published by Forbes in the US and Hurun in China, are anything to go by, that appears to be the case.
 
According to the Hurun Rich List, which tracks wealth in China, nearly half of the country’s 1,000 richest have seen their fortunes fall this year. The average wealth of the super-rich has dropped by 9% to $860 million (€665 million).
 

September 1, 2012

If you’ve ever wondered how you can ensure your family remains wealthy long after you’ve gone, then wonder no more.

If you’ve ever wondered how you can ensure your family remains wealthy long after you’ve gone, then wonder no more.

Because according to research published in the journal Proceedings of the Royal Society B: Biological Sciences, the answer is simple. Just have a small family.

The researchers found that having fewer children resulted in increased economic success and social position for descendants across up to four generations.

August 17, 2012

The Oppenheimer family’s 80-plus years of involvement in diamond mining giant De Beers has now come to an end, following the completion of its share sale to Anglo American.

The Oppenheimer family’s 80-plus years of involvement in diamond mining giant De Beers has now come to an end, following the completion of its share sale to Anglo American.

A statement by Anglo said the South African family has sold its 40% stake in De Beers to the UK-based miner in a deal valued at $5.2 billion (€4.22 billion).

First announced in November last year, the move takes Anglo’s stake in De Beers to 85%, while the remaining shares are held by the government of Botswana.

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