Taipei, June 30 (CNA) Taiwan was ranked 15th in a report on ultra-rich people by country in 2017, with the number up 26 percent from the previous year, according to property market consulting firm REPro Knight Frank.
In its latest wealth report, the number of individuals with US$50 million or more in net assets, defined as ultra-high net worth individuals (UHNWIs), in Taiwan was 2,010 in 2017, up 420 or 26 percent from a year earlier, REPro Knight Frank said.
Taiwan's growth rate in super rich individuals was the third highest in the world, trailing only Brazil's 28 percent and Russia's 27 percent, REPro Knight Frank added.
Taiwan also ranked sixth in the number of ultra-rich people in Asia after Japan (9,960), China (8,800), Hong Kong (5,140), India (2,920) and South Korea (2,610), the consulting firm said.
Huang Shu-wei (黃舒衛), a market research executive at REPro Knight Frank, said the growth in ultra-rich people in Taiwan partly reflects a booming equity market with the weighted index on the local main board ending above the 10,000 point mark in May 2017 for the first time in over two decades. Such strength in equity price gains continued for the rest of the year and even into 2018.
In addition, Huang said listed companies in Taiwan were doling out large cash dividends to shareholders and the major market players were the largest beneficiaries and becoming even richer.
Worldwide, the number of ultra-rich individuals totaled about 129,700 in 2017, up 10 percent from a year earlier, the highest growth for five years with the global economy on the path to recovery, REPro Knight Frank said.
The United States had the most ultra rich people with 38,500 in 2017, ahead of Japan, China, Germany (8,087), Canada (5,500), France (5,240), Hong Kong, the United Kingdom (4,580), Switzerland (3,710) and Italy (3,150), REPro Knight Frank added.
India took 11th position, followed by Russia (2,620), South Korea and Brazil (2,390), according to REPro Knight Frank.
(By Wei Shu and Frances Huang)
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