Tue, Oct 09, 2012 - Page 14 News List

Taiwan boasts 1,185 ultra-high net worth people: poll

Staff writer, with CNA, SINGAPORE

Taiwan has at least 1,185 people with fortunes in excess of US$30 million, according to the latest survey by wealth research firm Wealth-X.

The company’s recently released 2012-2013 World Ultra Wealth Report shows that the world’s ultra-high net worth (UHNW) population has increased to 187,380 over the past year, although their collective wealth has shrunk by 1.8 percent to US$25.8 trillion amid a worldwide economic slowdown.

Over the past year, the number of Taiwanese UHNW individuals declined 2.6 percent and their combined fortunes dropped 2.4 percent to US$200 billion, a Wealth-X press relations and content specialist said in an e-mail.

The specialist also said Taiwan ranks 18th among the 185 countries surveyed in terms of the combined fortunes of its UHNW population.

Twenty-six of the super-wealthy Taiwanese are billionaires, with a collective fortune of US$55 billion, according to the survey results.

Net worth valuations in the Wealth-X annual report are derived by calculating shares in public and private companies, income sources, residential and investment properties, art collections, planes, cash and other investible assets and cashflows.

The report provides insights into ultra-wealthy populations throughout the world.

According to the latest report, Asia’s UHNW population has been seriously affected by bearish stock markets around the globe and sluggish import demand in developed nations.

Over the past year, the number of ultra-wealthy Asians decreased 2.1 percent, while their collective wealth shrank 6.8 percent, the report said.

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