London’s wealthy elite also includes the largest concentration of Russian millionaires found outside of Moscow – at least 2,000, many of whom are also “Ultras”, i.e. ultra-high net-worth individuals. It is impossible to accurately assess their wealth because so much of it is hidden. But the donations from many of them to the Conservative party suggest that they have a direct interest in maintaining the low tax – especially wealth tax – policies of that party. It is not just property that the Russians are buying.
—  Danny DorlingInequality and the 1%

A new report on the world’s super rich ranks Romania 26th out of 45 European countries for the number of Ultra High Net Worth Individuals (UHNWI), with 125 Romanians worth in excess of USD 30 million each. The total number of ultra rich Romanians remains unchanged from last year, but their total combined wealth has fallen by 8.4 percent. Last year the 125 super rich Romanians had USD 15 billion between them, this year the figure has fallen to USD 14 billion. (via Romania’s super rich lose USD 1 bln since last year | Daily news in English from Romania - Romania-Insider.com)

  • Germany comes out at the top of the European chart, with a UHNWI population of 15,770, followed by the UK, with 10,515, while Switzerland has 5,595 UHNWIs, or individuals with a personal fortune of USD 30 million plus.
  • It must be remembered that the figures are totals, not rates of incidence. So while Germany has a total population of over 80 million and the UK over 60 million, Switzerland’s population is only 7 million.
  • The same effect is seen with Monaco, one place ahead of Romania with 195 UHNWIs. However, the nearly 200 super rich individuals from Monaco are from a total population of about 35,000, while Romania has 125 UHNWIs and a total population of around 20 million.
  • After the top four places in Europe, the UHNWI populations become far more modest. Fourth placed France has 4,100 ultra rich individuals, fifth placed Italy less than 2,000, while Spain, Norway, the Netherlands and Russia have from around 1,500 UHNWIs down to 1,145. In places 10 through to 20 the total figure drops from around 1,000 to around 500. With the exception of the tiny Principalities such as Monaco and Lichtenstein, all the Western European countries are in the top 21. Regionally, Russia is the highest placed – in 9th with 1,145 UHNWIs.
  • Turkey is 11th, Poland 13th, the Ukraine 19th, Hungary 22nd, Croatia 23rd and the Czech Republic 24th. Romania came out ahead of neighbors Serbia, Moldova and Bulgaria.
  • At a global level, there was a 0.6 percent increase in the total number of UHNWIs to 187,380, but their combined wealth fell by 1.8 percent. North America still has the most ultra rich people – 65,290 and both the total number and their combined wealth (USD 8,890 billion) increased on last year. Europe is second placed, but recorded falls in the number of UHNWIs (down 1.9 percent to 53,440) and their combined wealth (USD 6,950 billion – a 2.7 percent fall).
  • Third placed Asia also so falls in both the total number of UHNWIs and their combined wealth. The Middle East, Africa and Latin America all recorded increases in the total number of ultra rich people, but their total worth fell in all three regions. Oceania posted increases in the total and the combined wealth of UHNWIs. 
Rich, Richer, Richest

The riches keep getting richer, even among their own circle. Wealth X, a financial consulting firm, just releases a new report tracking the growth of ultra-high-net-worth individuals (UHNWI) in population and total wealth around the globe since last year. The firm defines UHNWIs as those having a net worth of $30m or more in all assets. 

Among this wealthy population, those posses $1b or more witnesses a 14% increase in total wealth and 9.4% increase in population. On the contrary, those are in the $100b - $199b category suffer the most; witness a reduction of 10.7% in total wealth and 7.6% decrease in population

The U.S. sees an increase of 2,250 (3.9%) individuals, from 58,030 to 60,280 while total wealth increases from $8,020b to $8,285b, a $265b (3.3%) change. Emerging markets all suffer with Russia gets hit hardly. The Federation loses 11.3% of its UHNWIs and 14.8% total wealth.

The chart below is taken from the Economist magazine website. The one below it has detailed numbers, extracted directly from the Wealth X report.

image

….besides wealth protection, there are many other reasons that individuals change jurisdiction including a desire for greater privacy and anonymity, reduced administration and increased global mobility. In this case, opting for citizenship through investment may be optimal. This practice is becoming increasingly popular with the wealthy…as many governments looking to boost their coffers have launched citizenship-by-investment schemes, granting citizenship to foreigners in exchange for investment

Unser Land ist eine Wohlfühloase für Superreiche. Die Schattenseiten werden immer sichtbarer.

In der Schweiz leben derzeit rund 4000 UHNWI. Die Abkürzung steht für «ultra high net worth individuals» und ist Bankenjargon für Superreiche, die über ein Vermögen von mindestens 50 Millionen Dollar verfügen. Weltweit rund 85’000 Personen gehörten 2011 zu dieser Kategorie. Die stellvertretende Ex-Chefredaktorin der «Financial Times», Chrystia Freeland, teilt die Superreichen im Buch «Plutocrats» in verschiedene Untergruppen auf: «29’000 besitzen ein Vermögen, das grösser als 100 Millionen Dollar ist, 2700 haben mehr als 500 Millionen Dollar.» Und: «37’500 UHNWI leben in Nordamerika, 23’700 in Europa und 13’000 in Asien.»

Highly risky avenues such as derivatives, hedge funds and structured products are still a no-no with UHNIs. Art as an investment continues to languish. This year, the percentage of UHNIs who said that they had invested in art was lower than last year
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