Hong Kong beat NYC as the city with the most residents worth $30 million or more, and Asia’s super-rich are growing faster than any place in the world.
Asia is crazy rich, all right.
The box office blockbuster “Crazy Rich Asians” showcases the super-rich Singaporean elite — but in reality, the Asia-Pacific region is creating more residents worth $30 million or more at a faster pace than any other place on the planet, according to research firm Wealth-X. Its 2018 Ultra Wealthy Analysis finds that Asia’s ultra-rich population jumped 18.5% in 2017, and their combined wealth adds up to $8.365 trillion.
And Hong Kong bumped New York City as the city with the most residents worth $30 million or more, with its super-rich elites jumping 31% to about 10,000 people last year, compared to the Big Apple’s 9,000 ultra-high-net-worth population. The report notes that Hong Kong benefitted from its trade and investment links with mainland China; the latter was listed as the third overall richest nation in the world and home to 26 of the 30 fastest-growing cities for the ultra-rich.