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WEALTH-X’s Fauzi Ahmad shares insights into the habits and trends of the UHNW sector

European business jet owners are on average 60 years old male, mainly married and primarily self-made. They have average net worth of US$450 million and liquidity of US$90 million. The average value of private aircrafts is US$19 million.

The Chinese jet market has been relatively restricted by government regulations, but many of these regulations are slowly being lifted and modified, reducing obstacles to the private jet industry. Next year, it is expected that the Chinese private jet market will grow by 30%, as a result of increased travelling for business and leisure purposes and the growing trend of Chinese UHNW individuals moving abroad but retaining some business ties to the Chinese economy.

When looking at the most popular destinations for billionaires on a per capita basis, the majority are small business friendly countries with strengths in banking such as Luxembourg, Switzerland and Singapore. Luxembourg has more than twice as many billionaires per capita as any other country in the world due to its low tax environment and small population.

Technology accounts for 3.4% of the world’s billionaires, a far cry from the 18% share that finance, banking and investment has. The Wealth-X and UBS Billionaire Census shows that total luxury holdings (excluding real estate) of the 2,170 billionaires in the world is estimated to be US$126 billion. That’s an average of US$58 million per billionaire.

Increasingly, Superyachts lead the trend as the ultimate expression of wealth status. By 2020, UHNW spending on superyachts is expected to reach $16.3 billion, a 25% growth overall.

– Fauzi Ahmad, Director of Communications at Wealth-X.

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