UHNWs bounce back
Despite global political and economic uncertainties in 2016, the population of ultra-high-net-worth Individuals—defined as those with $30 million or more in net assets—grew by 6,360 to 193,490, reversing a 3% decline in 2015, according to a report released on March 1 by real estate consultancy Knight Frank.
“The momentum gained in wealth creation in 2016, although relatively modest, was far from being a foregone conclusion, especially given that nearly three-quarters of respondents to our Attitudes Survey highlighted political uncertainty as a significant threat to their clients’ availability to create and preserve wealth,” Grainne Gilmore, head of U.K. residential Research at Knight Frank, said in the 11th edition of The Wealth Report.
The report covered trends in global wealth, property investment and luxury spending by the ultra-wealthy. One part, The Attitudes Survey, is based on responses from nearly 900 of the world’s leading private banker and wealth manager. READ MORE: http://www.mansionglobal.com/articles/55402-the-world-s-ultra-wealthy-population-grew-by-6-340-in-2016-after-a-decline-in-2015