Ultra High Net Worth Individuals (UHNWI)
Definition of 'Ultra High Net Worth Individuals (UHNWI)'
Persons with investable assets of at least US$30 million, excluding personal assets and property such as one’s primary residence, collectibles and consumer durables. Ultra High Net Worth Individuals (UHNWI) comprise the richest people in the world and control a disproportionate amount of global wealth. Ultra high net worth is generally quoted in terms of liquid assets over a certain figure. The exact amount differs by financial institution and region.
Investopedia explains 'Ultra High Net Worth Individuals (UHNWI)'
The number of richest people has increased in recent years, and they have grown even richer. A 2011 study on UHNWIs by Forbes Insights and Societe Generale found that the biggest growth in numbers of the mega-rich was in the emerging economies, specifically in the BRIC nations of Brazil, Russia, India and China. China and Russia had more than 200 billionaires in their ranks - second and third, respectively, behind the U.S. The study also found extremely strong family links among the UNHWIs studied, with a few notable exceptions in Russia.
UHNWIs keep a close eye on their wealth, according to a study by the Institute for Private Investors (IPI). Among families with more than US$200 million in assets, only 20% gave their financial advisors full discretion to make portfolio changes; 44% gave limited discretion and 36% gave no discretion to their advisors and portfolio managers.