Global high-net-worth wealth fell 19.5% in 2008; Irish HNWIs fell to 16,300; State bank guarantee/ recapitalisations “drivers of wealth”
Jun 25th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Global high-net-worth wealth fell 19.5% to $32.8 trillion in 2008 and the world’s High Net Worth Investor (HNWI) population now stands at 8.6 million, according to the latest World Wealth Report produced by Merrill Lynch and Capgemini. The report says the declines were unprecedented, and wiped out two robust years of growth in 2006 and 2007. Irish HNWIs dropped by 20% in 2008 to 16,300 and Merrill Lynch termed the Irish State bank guarantee and recapitalisations as “drivers of wealth.”