22 Mar 2021
The Wealth Report 2020: Insight 1 of 6
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
According to The Wealth Report, you meet the definition of an Ultra-High Net Worth Individual (UHNWI) once you have over US$30m (AU$39m) in assets including your primary residence.
The definition for a High Net Worth Individual (HNWI) is assets over US$1m (AU$1.3m) including your primary residence.
Using the HNWI criteria there are an estimated 48.5 million that meet the definition globally (that’s all, just 48.5 million) with the United States having the most at 19 million while Australia comes in with just under 177,000.
Click for table.
By being part of this group you are in truly rarefied air when you consider that our planet hosts an estimated 7.8 billion people and the HNWI represent 0.62% by number.
At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me or to call me on +61 2 9267 2322.