The number of ‘ultra-wealthy’ people in Ireland jumped by nearly 14% last year.
According to the latest Wealth Report from consultant agency Knight Frank, there were 2,560 ‘Ultra-High Net Worth Individuals’ (UHNWI) in Ireland last year.
That is a 13.6% rise on the 2,253 recorded here in 2019.
The agency classifies anyone worth $30m (€25m) as a UHNWI.
The 2021 edition of The Wealth Report is out now! The global perspective on prime #property and investment, including global #wealth movements, property hotspots around the world and luxury #investment trends. Discover more today at: https://t.co/mgQm8DUbaT pic.twitter.com/wmMFuTHdRZ
— Knight Frank (@knightfrank) March 2, 2021
Meanwhile, it takes more money to join the richest 1% in Ireland than it does anywhere else in the EU.
The report found that you need €2.6m to join Ireland’s 1% - with France and Germany just behind on €21.m and €2m respectively.
Globally there are now 521,653 ultra-wealthy people according to the report – a 2.4% rise on last year.
Asia saw the largest upswing with a 12% rise in ultra-wealthy individuals.
Meanwhile, there was a fall in UHNWIs in Latin America, Russia and the Middle East.
Knight Frank now predicts that Asia will account for one quarter of the world’s ultra-wealthy people by 2025.
Over the same period, it expects Ireland’s ultra-wealthy class to grow by 26% to 3,2309.
The Wealth Report also tracks High Net Worth Individuals (HNWI), classifying them as people with a net worth of more than $1m (€830,000).
There were 236,466 HNWIs in Ireland last year – a 2% rise on the 233,836 reported last year.
Globally there are now 48.5 million people worth more than $1m.
