While very high net worth (VHNW) individuals share many characteristics with their wealthier counterparts, they are nevertheless a unique cohort, with distinctive traits relating to everything from the origins of their wealth and how they allocate their assets to their hobbies, non-financial interests and passions.
The Very High Net Worth Handbook 2020 provides exclusive insights into this group of individuals and the ever-changing landscape of wealth creation, making it an essential read for any provider looking to prospect for and engage with individuals in this distinctive tier of wealth.
The VHNW population – those with a net worth of $5 to $30 million expanded strongly in 2019, rising by over 10% to 2.7 million individuals. This was a sharp acceleration in growth from just 1% in 2018. The combined net worth of VHNW individuals also increased by over 10%, to $26.6 trillion.
However, these gains were not evenly distributed. The world’s largest wealth hub, North America, led the way, with both the number of VHNW individuals and their collective net worth rising by around 15%. Double-digit growth was also recorded in Asia and Africa. There was below-average growth of the VHNW population and collective net worth in Europe and the Pacific, although both regions performed considerably better than the Middle East, which saw negligible increases, and Latin America and the Caribbean, where wealth creation stagnated.
Methodology
Wealth-X proprietary data assets empower our clients with both a top-down and on-the-ground understanding of the wealthy.
To size and forecast the wealthy population and its combined wealth, Wealth-X Analytics leverages our Wealth and Investable Assets Model. This model produces statistically significant estimates for total private wealth and estimates the size of the population by level of wealth and investable assets for the world, for each of the top 75 economies, and for over 100 of the world’s major cities.
To profile the characteristics of the wealthy, we use our unique and proprietary Wealth-X Database, the world’s largest collection of records on wealthy individuals from around the globe. Each Wealth-X Dossier provides insights into an individual’s financial profile, career history, known associates, affiliations, family background, education, philanthropic endeavors, passions, hobbies, interests and much more.
Wealth-X partners with prestige brands across the financial services, luxury, not-for-profit, and higher-education sectors to fuel strategic decision-making in sales, marketing and compliance.
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