The number of multi-millionaires in Australia
increased by 11% between 2007 and 2011, to reach 2,460 at the end
of 2011, according to research by WealthInsight, a London-based
wealth consultancy.

This includes 930 multi-millionaires in
Sydney, 590 in Melbourne, 330 in Perth, 240 in Brisbane, 60 in
Adelaide and 37 on the Gold Coast.

The WealthInsight research said Adelaide
experienced the strongest multi-millionaire growth among Australian
cities over the period 2007-2011, with growth of 75%, followed by
Perth with growth of 52%.

WealthInsight analyst Andrew Amoils said: “The
strong growth in Perth was facilitated by growth in the number of
multi-millionaires who acquired their wealth from the basic
materials sector, which was fuelled by a rise in commodity

Multi-millionaires, otherwise known as ultra
high net worth individuals or UHNWIs, are individuals with net
assets of US$30m 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.

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