The future of wealth will be built with BRICs. According to new data from Wealth-X, the wealth research and consulting firm, Brazil, Russia, India and China now have a combined 25,600 people with US$30 million or more in net worth (which includes shares in publicly traded and closely held companies, residential and investment real estate, art, planes, cash and other investible assets).
That is about half the number of ultra-high-net individuals in the U.S., according to Wealth-X. The BRIC ultrarich have a combined net worth of $4.125 trillion, compared to $6.4 trillion for the U.S. What is most interesting about the BRIC data is the concentration of wealth at the very top of the wealth pyramid. In Russia, the nation’s 80 billionaires account for 7% of the total population of people with a net worth of $30 million or more, but they own 84% of that group’s $640 billion in wealth.
In Brazil, the nation’s 50 billionaires account for less than 1% of the ultrarich population but a third of the group’s $890 billion in wealth. India’s 115 billionaires represent 1.4% of the total ultrarich population and 20% of the group’s wealth of $945 billion. China’s billionaires account for 1% of the ultrarich and about a third of their wealth of $1.65 trillion.