The cash wealth of the world's 12 million richest individuals grew 10 per cent last year to an astounding $46.2 trillion, according to the World Wealth Report, done for RBC Wealth Management. The number of super-rich increased by 9.2 per cent, the report found.
How did they do it? " global recovery in the equity and real estate markets", the report states.
North America reclaimed its position with the largest 'high-net-worth individuals" (HNWI) in 2012 after being overtaken by Asia-Pacific the year prior. North America's population of 3.73 million HNWIs surpassed Asia-Pacific's 3.68 million, while its HNWI wealth reached US$12.7 trillion, above the US$12.0 trillion in the Asia-Pacific region.
"Despite a marked focus on capital preservation and high cash allocations, high net worth individuals achieved a record level of wealth in 2012, suggesting further growth lies ahead if trust and confidence in the markets increase further," said M. George Lewis, Group Head, RBC Wealth Management & RBC Insurance.
Download the complete report at www.worldwealthreport.com.
