Appendix 1
The study sample
The changing face of private wealth
Self-made wealth now dominates the UHNW landscape, with tech founders, retailers and fashion entrepreneurs occupying many of the rich list top spots. Reflecting this broader reality, just 3% of our study’s UHNW individuals have inherited their wealth, while the remaining 97% are self-made.
72% of the self-made UHNW individuals in our study are corporate or finance professionals who have either made their money through their careers or through their own firms. A further 22% are entrepreneurs who have started their own companies. The remainder have made their wealth by investing in property or in ‘industries of the future’ – tech related to interconnectivity and smart automation like AI, 5G and biotech.
Global data
97% self-made wealth
Primary means of wealth creation:
corporate or finance professionals who have made their wealth through their careers
corporate or finance professionals who have made their wealth through their own firms
entrepreneurs who have started successful companies
investing in property
made their wealth by investing in ‘industries of the future’
3% inherited wealth
Primary way that inherited wealth was originally created:
family business
property/land
Market data
Our study shows that these UHNW individuals are well-connected, digitally savvy citizens of the world who understand both the impact of political and social events on their assets, and the impact that their capital can have on global affairs. Almost seven in 10 UHNW individuals consider the effect that geopolitical issues can have on their wealth and proactively seek advice to protect it from those impacts, and 62% say that they actively engage with leaders and governments on global issues.
UHNW characteristics
UHNW individuals are taking a holistic approach to wealth, focusing on how they can use technology to effectively manage their business interests, considering how they can build their networks as well as their capital, and prioritising their own mental and physical wellbeing.
Switched on
are digitally-savvy, using technology to operate 24/7 and to manage their global business and investment interests.
Linked up
say that their professional and personal network is invaluable, and they depend on it to grow their wealth.
Tuned in
say that they prioritise their mental and physical health.
