- Jul 2007
World’s rich people have got richer: Report
The Wealth-X says world’s rich people have gained more wealth last year
A research company, Wealth-X, says world’s rich people have gained more wealth last year as the number of billionaires rose 9.4 percent to 2,160 people.
According to the report published on September 17, the billionaires’ wealth grew 14 percent to USD 6.2 trillion.
This is while the number of people with at least USD 30 million increased to 187,380 but their total wealth fell 1.8 percent to USD 25.8 trillion, which is more than the combined size of the US and Chinese economies, the report added.
"Even at a billion or two billion, they have a much larger entourage; they have much more in the way of investment advice. They certainly get the attention of every major bank," Wealth-X's chief executive officer Mykolas Rambus told Reuters.
While the crisis-hit European economies are struggling to save themselves and the US economy recovers slowly, the rich people are “shifting away from speculative investments into private companies, commodities and property.”
As Asia, Middle East, Europe and Latin America suffered loss of wealth, the affluent saw their wealth grow in North America and Oceania - up 2.8 percent to USD 8.88 trillion and 4.4 percent to USD 475 billion respectively.