Dear Colleague,

Please see press release below from WealthInsight, the London based global wealth consultancy, which has conducted an in-depth analysis of the high net worth community in all five of the BRICS.

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This press release is part of WealthInsight’s report entitled: 2012 BRICS Wealth Book.

Press release: Top 30 BRICS cities for multi-millionaires

At the end of 2011, China accounted for twelve (40%) of the top 30 BRICS’ cities for multi-millionaires (individuals with more than US$30 million in wealth). There were nine Brazilian cities on the list, five from India, two from Russia and two from South Africa.

According to wealth analyst Andrew Amoils: "Beijing was the largest BRICS’ city for multi-millionaires (1,318 individuals), followed by São Paulo (1,310 individuals), Shanghai (1,028 individuals), Moscow (821 individuals) and Mumbai (577 individuals)".

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Definitions:

  • "Multi-millionaires" otherwise known as "ultra high net worth individuals" or "UHNWIs" are individuals with net assets of US$30 million or more excluding their primary residences.
  • "Millionaires" otherwise known as "high net worth individuals" or "HNWIs" refer to individuals with net assets of US$1 million or more excluding their primary residences.
  • For the purposes of this report, the phrase "review period" relates to the years 2007-2011 and the "forecast period" relates to the years 2011-2016.

Please find full white paper attached.