Billionaire battle hots up
Asian millionaires are now the richest people in the world, according to a new study.
Chinese and Japanese millionaires saw their wealth surge by 10 per cent last year, a report by Capgemini found.
They together hold nearly $60 trillion (£40 trillion), four times higher than 30 years ago.
Capgemini expects they could be wirth $100 trillion by 2025.
“If past growth rates hold, Asia-Pacific is likely to continue to be a dominant force over the next decade, representing two-fifths of the world’s HNWI wealth, more than that of Europe, Latin America, and the Middle East and Africa combined,” Capgemini said.
The UK had the fifth highest number of high net worth individuals, this number increased 1 per cent to 553,000.
Globally, the wealth controlled by millionaires grew 4% last year to $58.7 trillion (£39.5 trillion).