Surveys

Russian UHNW Individuals Number 1,200 – Wealth-X Survey

Devina Shah London 4 May 2011

Russian UHNW Individuals Number 1,200 – Wealth-X Survey

New data from Wealth-X, a firm providing intelligence on the number and growth of ultra high net worth individuals, has said it estimates that there are over 1,200 such individuals worth a combined $ 640 billion in Russia today.

The figure takes into account shares in public and private companies, residential and investment properties, art collections, planes, cash and other investable assets.

The report found that Russia has only 5 per cent of UHNW individuals while accounting for 16 per cent of total BRIC wealth.

In addition the report details the 25,600 UHNW individuals worth more than $30 million in the BRIC countries, whose accumulated total net worth is estimated at $4.1 trillion. China is positioned first in terms of highest UHNW population and total wealth, followed by India, Brazil, and Russia.

“In Russia as in other emerging markets there are few middle-worth UHNW individuals. Instead billionaires and near-billionaires, followed in aggregate by the mass UHNW with $30 million to $200 million, dominate wealth. The key for private wealth managers and luxury brands is to build separate sales strategies that appropriately address both ends of the marketplace,” said David Friedman, executive vice president of strategy for Wealth-X.

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