Editorial
1 mins to read
Hot Topic
Hawke’s Bay
The NBR Rich List’s select group of internationals – people who have made New Zealand their alternative home – have shared mixed fortunes in the past year. While Russian Alexander Abramov’s steel fortune has shrunk further, his business activities have stepped up.
By contrast, American investors Julian Robertson and Bill Foley have enhanced their net wealth after another year of strong gains on Wall Street.
British aristocracy’s Henrietta, Dowager Duchess of Bedford, has also seen her property and horse breeding operations increase in value, as has movie mogul James Cameron’s rural interests in Wairarapa.
All are among those defined as “high net worth individuals” in the 18th annual World Wealth Report, compiled by Cap Gemini and Royal Bank of Canada.
Their number increased by 1.76 million since the 2013 report and their collective wealth grew nearly 14% to reach a record high of $US56.62 trillion. The 15% increase in number was the second largest since 2000.
They took on a more global mindset in early 2014, allocating over one-third (37%) of their assets outside of their home region, up from one-quarter (25%) the year prior
There was a clear shift toward growing fortunes as well, as they reduced their focus on wealth preservation from 45% to 28% in favour of growth, the wealth report says.
Billionaires are being created at a faster rate in Asia Pacific – up 18% annually – than in North America – up 17% – but the latter is still the wealthiest region with $US14.88 trillion, just ahead of Asia Pacific’s $US14.20 trillion.
See the full NBR Rich List 2014 here (premium member subcriber content)
Nevil Gibson
Wed, 30 Jul 2014
Wed, 30 Jul 2014
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
RICH LIST 2014: World’s wealthy opt for more growth
Editorial,
40032