Tuesday, July 22, 2008

Global wealth

I was reading a column about the great returns that financial planners and advisers make for their brokerages. I know, no surprise there. What jumped out at me is how much wealth high net worth individuals now control:

Globally, the wealth of high-net-worth individuals (defined as having net assets of at least $1 million, excluding primary residences) jumped 9.4% last year, to just under $41 trillion. That's more than 30 times the market valuation brokerage firms have lost just this year. Both India and China saw at least 20% jumps in the ranks of their wealthy citizens. In Korea that figure was 19%, and in Russia it was just over 14%. In the oil-rich Persian Gulf...well, you get the drift.
Maybe these factoids are only of interest to me, but I thought I'd point it out.