There are more millionaires and “super rich” people than ever before as the rapid growth in Asia’s emerging markets propels private wealth to record levels, according to a new report.
Private wealth increased 7.8 per cent to $135.5tn in 2012 from the previous year, says Boston Consulting Group, the management consultancy. The total number of millionaire households reached 13.8m and the number of “super rich”, or households worth more than $100m, rose to about 12,000.
The rise in private wealth suggests the global economy is finally shrugging off the effects of the financial crisis, says BCG, helped by Asia’s rapid growth.
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