Ultra Rich Population Keeps Growing

Number of ultra rich persons reached a record 211,275 in 2014 as 13 percent of global wealth of adults is concentrated in the hands of 0.004 percent of the population, according to a new study.

The study compiled by Swiss bank UBS and consulting firm Wealth-X said  even amidst geopolitical conflicts, socio-economic strife, and volatile currency markets, the world's equity markets displayed strong performances, thereby enabling Ultra-high net worth individuals' wealth to increase and their influence across industries and sectors to grow  from their importance in wealth management to their consumption of luxury goods.

The UHNW adult population account for approximately 1 in every 35,000 people in the world, or just 0.004 percent. Average wealth of an UHNW individual has risen to $139.4 million, up $1.8 million last year, a more than 77 percent increase.

"Such a large concentration of wealth in the hands of these few individuals means that they tend to have a large degree of influence, whether on global equity markets or specific industries,” the report says

The geographical heavyweight was again North America, which accounts for nearly a third of the total $30 trillion, at $9.7 trillion in held wealth. Europe is home to about 25 percent and Asia 23 percent.