HNW wealth grows 8%,surpassing $30 trillion in 2004

Date: 27 Jan 2006


‘The two main drivers of personal wealth creation – economic growth and market capitalization worked together to generate the strongest growth in high net worth wealth that we’ve seen in more than three years,’ said James P. Gorman, Executive Vice President of Merrill Lynch & Co. Inc. and Head of Corporate Acquisitions, Strategy and Research. ‘Singapore, Hong Kong, Australia and India saw the highest rates of HNWI population growth, while wealthy people in South Africa and the Middle East benefited from the rise in commodity and oil prices.
Growth generally lagged in Europe, with only two nations – the United Kingdom and Spain – showing growth comparable to the worldwide rate.’

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