The latest rich lists released have announced that the millionaire population is still growing! The Sunday Independent’s Ireland’s Rich List 2012 and the Spectrem Group in the US, both pointed out that HNWIs have seen an increase in their wealth over the last year despite the tensed economic climate. Additionally, the total amount held by the wealthiest worldwide has seen an increase, and in the US, the number of millionaires also grew by 2%, creating 200,000 new HNWIs. Those trends are expected to keep up in the UK as the total wealth of British HNWIs is forecast to grow by 16% to reach USD 3 trillion by 2015 whereas the number of HNWIs will increase by 15% to reach just over 774,000 individuals in 2015 according to WealthInsight.
The population benefiting from this increase in wealth is mainly made up of individuals engaged in business (namely managers, corporate executives, entrepreneur and business owner), sport, television and music activities.
Many already established millionaires have seen their wealth increased considerably since last year. Lord Ballyedmond (a pharmaceutical business owner), saw an increase of up to £50m in his wealth, rounding up his fortune to a £386m and making him the 24th richest man in Ireland. Other prosperous investors include the duke of Westminter, who experienced an increase of £250m in wealth, bringing his personal fortune up to £7bn.
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by Alexandra Gomolka