An improved economic landscape has helped to add 1.76 million people to the global High Net Worth Individual (HNWI) population of 13.7 million in 2013.<\/p>\n
This is according to the World Wealth Report 2014 (WWR) released by Capgemini and RBC Wealth Management.<\/p>\n
HNWIs are defined as those having investable assets of US$1 million or more, excluding primary residence, collectibles, consumables, and consumer durables.<\/p>\n
The report noted that a 15% increase in HNWI population in 2013 is the second-largest since 2000, surpassed only by immediate post-crisis catch-up growth of 17% in 2009.<\/p>\n
The report found that the investable wealth of HNWIs grew by nearly 14% to reach a record high of US$52.62 trillion.<\/p>\n
The US contains the most millionaires, at 4 million, followed by Japan (2.3 million), Germany (1.1 million), and China (758,000). The top four countries account\u00a0 for 60% of the world’s wealthy.<\/p>\n
In Africa, the size of the HNWI population increased by 3.7% in 2013 to 100,000, while wealth witnessed an increase by 7.3% to US$1.3 trillion.<\/p>\n
Looking ahead, global HNWI wealth is forecast to reach a new high of US$64.3 trillion by 2016, representing 22% growth from 2013 levels and approximately US$12 trillion in new wealth.<\/p>\n
South Africa\u2019s richest people in 2014<\/a><\/strong><\/p>\n