More “Super Rich” People Now in East Asia Than US

More “Super Rich” People Now in East Asia Than US

Need to hit up a really rich dude (or gal) to fund that hairbrained startup idea of yours?  Might want to hop a plane across the Pacific.

There are now officially more “super rich” people – defined as over $100 million in net worth – in East Asia than there are in the US.  The South China Morning Post reports:

There were 18,000 of these so-called “centa-millionaires” in Southeast Asia, China and Japan last year, against 17,000 in North America and 14,000 in western Europe.

And what do these well-to-do folks spend their surplus riches on?  “Investments of passion” the SCMP eloquently puts it – art, wine, and sport (as in sports teams).

This trend is set to continue: “By 2016, there are forecast to be 26,000 of these super-rich in Asia, compared with 21,000 in North America and 15,000 in western Europe.”

Anyone want to set an over/under on a kickoff date for Occupy Shanghai?

About Author

Brett

Hi, I’m Brett Owens – and I’m a financial junkie. My “problem” started incollege, when I got a little dose of the stock market – man, was I hooked…in no time, I was reading the Wall Street Journal religously.

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