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January 9, 2012

Perth will have a larger ultra-high net worth population than Brisbane by 2014, thanks to its growing mining sector and the surge in commodity prices. 

Perth will have a larger ultra-high net worth population than Brisbane by 2014, thanks to its growing mining sector and the surge in commodity prices.

Figures from research company Wealth-X show Perth is currently home to the fourth-highest concentration of ultra-wealthy in Australia, behind Sydney, Melbourne and Brisbane.

But in only a couple of years, the city, located in Western Australia, will see its UHNW population outgrow Brisbane’s, according to the report.

January 6, 2012

Hong Kong’s three richest individuals are all family business owners but their fortunes declined last year as economic growth slowed in China, according to the city-state's latest rich list.

Hong Kong’s three richest individuals are all family business owners but their fortunes declined last year as economic growth slowed in China, according to the city-state's latest rich list.

Forbes magazine said Li Ka-shing, the 83-year-old chairman of family-controlled conglomerates Hutchison Whampoa and Cheung Kong Holdings, is Hong Kong’s wealthiest individual with approximately $22 billion (€17.2 billion) in assets. This represents an 8% decline from last year’s $24 billion.

December 15, 2011

The wealth held by India’s high net worth individuals has grown faster than the fortunes of the rich internationally, according to new research.

The wealth held by India’s high net worth individuals has grown faster than the fortunes of the rich internationally, according to new research.

The India Wealth Report, which was released by a local wealth management firm, said the 11% rate of growth in wealth this year made India one of the fastest-growing HNW populations in the world.

Demand for gold, a symbol of wealth in India, will also see a boost in 2012, said the research by Karvy Private Wealth.

November 10, 2011

Asia-pacific will be home to the largest number of ultra-high net worth individuals by 2032, according to a new report by Wealth-X. 

Asia-pacific will be home to the largest number of ultra-high net worth individuals by 2032, according to a new report by Wealth-X.

Currently, wealth is concentrated in western economies – the US is home to 62,960 people with more than $30 million (€22.1 million), while 54,325 UHNW individuals live in Europe, compared to Asia-Pacific’s 42,525 super-rich.

However, Asia-Pacific’s UHNW population will surpass Europe’s by 2024 and the US’s by 2032, the study said.

September 22, 2011

Many of the US’s richest people have family businesses to thank for their huge fortunes, but the number of people who inherited their wealth on Forbes’s 2011 list of the wealthiest Americans has fallen.

Many of the US’s richest people have family businesses to thank for their huge fortunes, but the number of people who inherited their wealth on Forbes’s 2011 list of the wealthiest Americans has fallen.

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