Posted by: Frederik Balfour on September 25, 2008
Chalk up another one for China. Not only does it have the biggest haul of Olympic gold medals. Now it can claim the most super rich individuals in Asia. According to a survey released by Capgemini and Merrill Lynch on Sept. 25, at the end of 2007 China boasted more than 6,000 people worth more than $30 million a piece, excluding their principal residence. Japan only had about 5,300.
Readers of this blog might remember how in July I wrote that China had eclipsed France in terms of millionaires, but the revelation that its class of super rich exceeds Japan’s is testament to how quickly China is reaching the loftiest rungs of the affluence ladder.
But here’s perhaps an even bigger surprise: Vietnam has more than 20 people belonging to this super fat wallet crowd, according to the report which tracked wealth in that country for the first time in this latest report.
In response to a couple of comment queries, I’m adding the following information on September 26: The number of High Net Worth Invidiuals in India is 118,000 at the end of 2007 according to the report, a 22.7% increase year on year. The number of ultra high net worth was about 1,080 in India, a tie with Singapore.