I remember when I was young I wanted to be a millionaire.
In fact I wanted to be a millionaire by the age of 30.
By the way... I didn't make it by 30, it took me a few more years but back then reaching the status of “millionaire” used to be a big deal.
Today $1million won't get you that far.
There are over 16 million millionaires globally, and in Australia the number of millionaires grew by 200,000 to 1.16 million in Australia over the 12 months to mid-2017, according to research by Credit Suisse.
And the number of ultra-high-net-worth (UHNW) individuals in Australia — those with a net worth of $US50 million ($65.5 million) — jumped by 30 per cent to almost 3000, according to the latest edition the Global Wealth Report.
Therefore, to really get a sense of the makeup of the world’s ultra-wealthy population, we need a more exclusive and finely-tuned indicator.
Today’s infographic comes to us from the Knight Frank Wealth Report 2018, and breaks down the world’s 129,730 people that have fortunes of US$50 million and above.
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This represents the top 1% of the world’s millionaire population.
The graphic sorts these ultra-wealthy people by country and region, but also breaks down the change in population between 2016 (Q4) and 2017 (Q4).
Here’s the $50 million and above population sorted by region:
|Rank||Region||Ultra-wealthy pop (>$50mm)||1-yr growth rate|
|#6||Russia & CIS||2,870||+26%|
As you can see, Australia is punching above its weight in high net worth individuals.
We really are the lucky country.
I remember reading a quote from Bill Gates: "It's nobody's fault if they are born poor, but it is their fault if they die poor."