NEW YORK (PRWEB) February 13, 2020
Wealth-X, the world’s leading provider of data and insight on the wealthy, today released the newest addition to its annual series of flagship reports. The Very High Net Worth Handbook 2020 analyzes the world’s very high net worth (VHNW) population (those with $5 to $30 million in net worth) revealing significant growth in 2019, rising by 10.2% to nearly 2.7 individuals. The VHNW population’s combined wealth increased alongside the population, expanding 10.2% to nearly $26.6 trillion.
This report examines the global VHNW population and their wealth in 2019, including regional trends, an analysis of wealth distribution and a ranking of leading countries and cities in terms of their VHNW populations.
Further key insights from the Wealth-X Very High Net Worth Handbook 2020 include:
- The VHNW population and their combined wealth grew by over 10%: a sharp acceleration in growth from just 1% in 2018.
- VHNW population and combined wealth increased in most major regions: North America, Asia and Africa all saw double digit growth, while other regions saw only modest increases and declines.
- New York is home to the largest population of VHNW individuals: the city is home to over 110,000 very wealthy individuals. In second place, with 73,845, Tokyo lags New York substantially, but is nevertheless well ahead of third-placed Hong Kong, by almost 9,000 individuals.
- Eighty-five percent of the VHNW population have created their wealth entirely on their own: the remainder comprises those whose net worth stems from a combination of inherited and self-created wealth, and those whose wealth derives solely from inheritance.
For the complete findings download the full report at http://www.hnwhandbook.com
While VHNW individuals share many characteristics with their wealthier counterparts, the Very High Net Worth Handbook uncovers distinctive traits relating to everything from the origins of their wealth and how they allocate their assets to their interests, passions & hobbies.
Historically, Wealth-X has focused solely on tracking ultra high net worth (UHNW) individuals - those with a net worth of $30 million or more. However, in recent years, the company’s global database of the wealthy has expanded significantly, providing unrivaled data and insight on a substantially wider group of individuals.
The Very High Net Worth Handbook 2020 leverages the proprietary information in Wealth-X’s Global Database of records on wealthy individuals, the largest of its kind in the world. Wealth-X’s proprietary data assets position Wealth-X to produce a uniquely accurate profile of this group of individuals by examining their sources of wealth, industry focus and asset allocation, as well as their interests and hobbies, with many of these categories filtered by age and gender.
The global leader in wealth information and insight, Wealth-X partners with leading prestige brands across the financial services, luxury, not-for-profit and higher-education industries to fuel strategic decision-making in sales, marketing and compliance. Wealth-X boasts the world’s most extensive collection of records on the world’s wealthiest individuals and produces unparalleled high net worth market research. Founded in 2010, with offices across North America, Europe and Asia, Wealth-X works with over 500 clients providing them with unique data, analysis, and counsel to drive business success.