Ultra High Net Worth Individuals
Ultra High Net Worth Individuals Meaning:
In banking terminology, ultra high-net-worth individuals may be defined as those who have a net-worth in excess of US$30 million, which includes a combination of investable assets, liquid financial assets, shares in companies and excludes personal assets such as residential property, collectible items and consumer durables. An ultra high net-worth individual may also be classified as one who has assets valued above a certain figure, which may vary in different financial institutions and regions. UHNWI's comprise the richest people in the world and control a sizeable share of global wealth.
In banking terminology, ultra high-net-worth individuals may be defined as those who have a net-worth in excess of US$30 million, which includes a combination of investable assets, liquid financial assets, shares in companies and excludes personal assets such as residential property, collectible items and consumer durables. An ultra high net-worth individual may also be classified as one who has assets valued above a certain figure, which may vary in different financial institutions and regions. UHNWI's comprise the richest people in the world and control a sizeable share of global wealth.
The number of ultra high net-worth individuals has grown significantly in recent years, in both developed and emerging economies. The biggest growth of UHNWIs has come from the emerging BRIC (Brazil, Russia, India, China) economies, though the United States still tops the UHNWI list. They usually own their own large businesses or conglomerates. Many banks have special business units with designated teams to exclusively cater to the needs of UHNWI's.