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Altrata's Latest Study on Global Wealth

A recent study published by Altrata has unveiled that the total investable wealth of affluent individuals surpasses half of the worldwide annual GDP. This research provides vital insights into the financial landscape surrounding high-net-worth individuals (HNWIs).

According to the findings, about 50.2 million individuals globally are classified as millionaires based on their total net worth. However, only 16 million of these possess more than $1 million in investable wealth, totaling an astounding $67.3 trillion. The significance of this segment of the population is evident as it is anticipated that their investable wealth will experience a remarkable 45% growth by 2030, reaching a staggering $97.5 trillion.

Distribution of Wealth by Country

The United States stands as the most prominent wealth market with more than 6.8 million individuals holding at least $1 million in investable assets, collectively amounting to $26.2 trillion. Following the U.S., China and Japan are positioned as the second and third countries in terms of the number of millionaire individuals holding substantial investable wealth.

Key Findings from the Study

The Altrata report demonstrates critical findings regarding the profile of individuals with over $1 million in investable assets:

• - 14.1 million individuals worldwide hold between $1 million and $5 million, totaling $27 trillion in investable wealth.
• - Approximately 190,500 individuals possess more than $30 million in investable wealth, contributing a combined stock of $24 trillion.

These numbers indicate not just the vast resources held by wealthy individuals, but also the remarkable growth potential present within this demographic.

Perspectives on Wealth and Demographics

As Eden Willis, the Global Head of Financial Services at Altrata, notes, "Net worth is often used to gauge an individual's financial status, but the level of investable wealth serves as a more insightful indicator of an individual's financial flexibility, risk tolerance, and potential for wealth accumulation." This observation highlights the importance of focusing on investable assets over general net worth when assessing financial capacity.

Further statistical analysis reveals that the wealthy demographic is predominantly male, with women representing only 21% of this population. The average age among individuals with investable assets exceeding $1 million is 62 years, which increases to 68 years for those commanding wealth beyond $30 million. Notably, a significant majority of these individuals have accrued their fortunes through personal achievement rather than inheritance.

Lifestyle Preferences of Wealthy Individuals

Diving deeper into their interests, the study breaks down the passions among men and women with over $1 million in investable wealth. For men, sports emerge as the leading interest, while women prioritize philanthropy as their top engagement. Philanthropic efforts also rank high among wealthy men in North America.

Additionally, preferences vary across regions: North America exhibits a strong inclination towards outdoor and wellness activities, Europe shines in arts and fashion interests, whereas Asia presents a more balanced engagement, showing lesser tendencies towards sports and outdoor pursuits.

These trends assist organizations in honing their strategies to connect effectively with affluent audiences worldwide, presenting a valuable opportunity for wealth management and luxury brands targeting this elite segment.

In conclusion, Altrata's findings underscore the profound impact that the wealthy investor demographic has on the global economy and the potential for sustained growth in their investable assets. The full report provides indispensable intelligence for financial institutions and organizations aiming to engage this influential class of individuals.