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wealthy greeks enjoy bumper year

The Wealth-X and UBS World Ultra Wealth Report, the third such global study by Wealth-X, finds that the number of UHNW Greek individuals – those with a net worth of at least $30m (€23m) – rose from 455 to 505 in the 12 months ending June 2013.

The combined wealth of such individuals increased from $50bn to $60bn – a bigger percentage rise than for any other European UHNW market bar Romania, which posted growth of 21.4%.

Germany powers ahead

However, the performance of Germany dwarfed those of both Greece and Romania in absolute terms. Europe’s most populous nation saw its UHNW segment grow by more than 2,000 people – a bigger increase than for any of its continental peers, and second only to Switzerland in percentage terms.

Men accounted for 94% of the ultra-wealthy German population – well above the global average of 88%. Yet the few German women who found themselves in the UHNW bracket were almost three times as wealthy as their male counterparts.

Looking at Europe as a whole, the continent’s UHNW population grew by almost 9%, as the collective wealth of such individuals rose by more than 10%. Only Ukraine and Finland registered declines in their ultra-wealthy populations.

Other findings in the report:

  • The global UHNW population reached 199,235, an all-time high;
  • North America and Europe added nearly 10,000 UHNW individuals combined; and
  • Slower growth led to declines in both the UHNW populations and wealth of China and Brazil.

A PDF of the report can be downloaded from the Wealth-X website, here (registration required).

tom@ybc.tv

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