Australia - Number 10 On Global Rich List
By Sandy Naidu | June 26, 2008
For the past 12 years, Merrill Lynch and Capgemini have been releasing a very comprehensive report into the factors that drive and inhibit wealth generation and how these factors have been affecting the high networth individuals across the world. The report is called the ‘World Wealth Report’.
A few weeks ago the 12th Annual World Wealth Report was released. Here are some interesting facts about Australia and the rest of the world:
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1. In 2007, India led the growth in High Networth Individuals…The number of High Networth Individuals in India grew by 22%. High Net Worth Individuals hold atleast USD 1 million in assets (excluding primary residence). |
2. In 2007, High Net Worth Individuals invested primarily in less risk investments - like fixed income securities, cash/deposits…Their investments in ‘green products’ increased during the year. Their real estate investments decreased. Their investments in ‘Alternate Investments’ (eg hedge funds) reduced.
3. The number of these high networth individuals increased by 6 per cent last year to 10.1 million. They however account for just 0.15 percent of the world’s population of 6.7 billion.
4. There are around 172,000 high networth individuals in Australia.
5. In 2007, the number of high networth individuals in Australia increased by 11,000.
6. Australia holds 10th position in the global rich list
7. United States has the highest number of rich people - 3.03 million millionaires.
8. The report predicts that this year as signs of financial recovery appear, these individuals will slowly move away from fixed interest / cash and move more towards investments offering higher returns.
Topics: Financial Topics |
