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Millionaire population and wealth hit record high in 2016

Fri, Sep 29 2017, 06:07 PM

The number of high net worth individuals (HNWIs) increased by nearly 8% to an all-time high of 16.5 million in 2016, holding a record wealth of $63.5 trillion, according to the annual wealth report of consultancy firm Capgemini. It defines HNWIs as those with investible assets of $1 million or more, excluding primary residence, collectibles, consumables and consumer durables. Russia, Indonesia and the Netherlands are some of the markets where HNWI populations grew by double digits.