Skip to main content

Report reveals where world's richest live

By Oliver Joy, CNN
March 12, 2013 -- Updated 1455 GMT (2255 HKT)
According to a Knight Frank survey of wealth advisers, New York (pictured) and London will remain top destinations for the wealthy until 2023. The global number of high net worth individuals - classified as someone with $30 million or more in net assets -- increased by 8,700, or 5%, in 2012. According to a Knight Frank survey of wealth advisers, New York (pictured) and London will remain top destinations for the wealthy until 2023. The global number of high net worth individuals - classified as someone with $30 million or more in net assets -- increased by 8,700, or 5%, in 2012.
HIDE CAPTION
Where are the richest people in the world?
Where are the richest people in the world?
Where are the richest people in the world?
Where are the richest people in the world?
Where are the richest people in the world?
<<
<
1
2
3
4
5
>
>>
STORY HIGHLIGHTS
  • For the world's wealthy elite, classic cars are the most popular collectible asset with a 395% rise over 10 years
  • The total number of super-rich -- defined as those with $30 million or more in assets -- grew by almost 5% in 2012
  • The Wealth Report by Knight Frank shows Jakarta and Bali recorded the highest growth of luxury property

London (CNN) -- New York and London remain the world's wealthiest spots -- but Asia and Latin America are catching up, a new report by Knight Frank shows.

The bright lights of New York and London will lure the world's wealthy until at least 2023, the report shows, but Asia and Latin America will spawn the highest number of ultra-rich individuals over the next decade.

According to The Wealth Report 2013, released March 6, the world's wealthy will grow by 50%.

READ MORE: Asia's most innovative cities

The total number of super-rich -- defined as those with $30 million or more in assets -- grew by almost 5% in 2012 and another 95,000 individuals are set to break that barrier in the next 10 years, it said.

Jakarta and Bali recorded the highest growth of luxury property across an index of 80 destinations.

The principality of Monaco remains the most expensive location for prime real estate. A home on the French Riviera resort can cost up to $5,920 per square foot.

Key Chinese cities such as Guangzhou and Shanghai have also seen a marked increase in property prices with Hong Kong real estate rising by 8.7% following an influx of wealth from mainland China.

READ MORE: World rich list shows emerging Asian power

Liam Bailey, global head of residential research at Knight Frank noted "in the next decade we will see the biggest increase in ultra-wealthy individuals in cities such as Sao Paulo, Beijing, and Mumbai."

He added: "Wealth creation has not been dented by the global economy slowing, nor has this affected the demand for prime property as the search for safe haven investments has continued."

For much of the world's wealthy elite, classic cars are the most popular collectible asset with prices surging 395% over 10 years, beating other alternative investments such as fine wine and art.

"Investments of passion" are also expected to attract the super-wealthy from emerging markets, particularly in China, as investors seek safer assets in an unsteady global economy, according to the Knight Frank's Luxury Investment index.

ADVERTISEMENT
Part of complete coverage on
September 22, 2014 -- Updated 2001 GMT (0401 HKT)
The U.S. has promised to supply and train "acceptable" rebels in Syria to counter ISIS. But who are they and are can the strategy work?
September 23, 2014 -- Updated 0039 GMT (0839 HKT)
Branded an "extremist" by China's state-run media, Joshua Wong isn't even old enough to drive.
September 22, 2014 -- Updated 0655 GMT (1455 HKT)
Indian Prime Minister Narendra Modi surprised political pundits with his rapid rise to power. CNN meets the man behind the enigma.
September 22, 2014 -- Updated 1144 GMT (1944 HKT)
Liverpool's Italian forward Mario Balotelli reacts during the UEFA Champions League Group B match between Liverpool and Ludogorets Razgrad at the Anfield stadium in Liverpool on September 16, 2014.
British police launched an investigation into abusive tweets sent to Liverpool striker Mario Balotelli.
September 21, 2014 -- Updated 2344 GMT (0744 HKT)
A woman who was texting her husband before he was killed reflects on the Westgate attack.
September 19, 2014 -- Updated 1049 GMT (1849 HKT)
British PM David Cameron has had the narrowest of political escapes.
The burial leader. The hospital gatekeeper. The disease detective. All telling powerful, stories from West Africa.
September 22, 2014 -- Updated 1554 GMT (2354 HKT)
The real secret to a faster commute has been with us all along -- the bus.
September 22, 2014 -- Updated 1316 GMT (2116 HKT)
13 brands retained their Top 20 status from last year, according to an annual survey.
September 22, 2014 -- Updated 1549 GMT (2349 HKT)
Think your new tattoo is cool? Look at how our ancestors did it and think again.
September 22, 2014 -- Updated 1100 GMT (1900 HKT)
Each day, CNN brings you an image capturing a moment to remember, defining the present in our changing world.
Browse through images from CNN teams around the world that you don't always see on news reports.
ADVERTISEMENT