Wealth-X Spotlight: The Wealthy in Russia, provides a unique market sizing of the world’s 11th largest wealth market.
The Wealth-X Analytics team is able to complement our flagship reports with a more detailed look at wealth in individual countries around the world. Adding to our Spotlight Wealth Series that includes The Wealthy in Germany and The Wealthy in China, we find that Russia is home to 293,000 high net worth (HNW*) and almost 5,500 ultra high net worth (UHNW) individuals. It ranks fourth for the number of billionaires, behind just the US, China and Germany.
A SIGNIFICANT NUMBER IN THE UPPER WEALTH TIERS
The country’s two largest cities, Moscow and St. Petersburg, together account for around a third of the wealthy in Russia, with the rest relatively widely dispersed. Reflecting the unequal distribution of wealth among this population (not to mention with the general population), both cities show a very high proportion of individuals whose wealth is at the top end of their wealth tier. Moscow, for example, ranks 7th out of the world’s major 150 cities for the proportion of those with $100m+ out of the total UHNW population – at a striking 27%.
*Those with $1m+ in net worth
Read more about the global VHNW population here
METHODOLOGY FOR ‘THE WEALTHY IN RUSSIA’
Wealth-X proprietary data assets empower our clients with both a top-down and on-the-ground understanding of the wealthy.
To size and forecast the wealthy population and its combined wealth, Wealth-X Analytics leverages our Wealth and Investable Assets Model. This model produces statistically significant estimates for total private wealth and estimates the size of the population by level of wealth and investable assets for the world, for each of the top 75 economies, and for over 100 of the world’s major cities.
To profile the characteristics of the wealthy, we use our unique and proprietary Wealth-X Database, the world’s largest collection of records on wealthy individuals from around the globe. Each Wealth-X Dossier provides insights into an individual’s financial profile, career history, known associates, affiliations, family background, education, philanthropic endeavors, passions, hobbies, interests and much more.
Wealth-X partners with prestige brands across the financial services, luxury, not-for-profit, and higher-education sectors to fuel strategic decision-making in sales, marketing and compliance.
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For more information, please email us – contact@wealthx.com.