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HK has highest proportion of ultra-rich women: survey  

香港女性富豪数量全球居首 过半继承上一代财富

2014-11-25 16:06 Women of China Web Editor: Wang Fan

China's Hong Kong ranks first in the world in terms of having the highest proportion of ultra-rich women, according to the World Ultra Wealth Report released by the United Bank of Switzerland (UBS), a large integrated financial services company headquartered in Switzerland.

According to the report, Hong Kong is a region brimming with ultra-rich people, where ultra-wealthy women hold almost U.S. $90 billion in assets, placing Hong Kong first in the world in terms of the proportion of ultra-rich individuals who are female. Ultra-rich individuals are defined as having more than U.S. $30 million in assets not including their main home.

An official of UBS Hong Kong explained that women's enterprising spirits and the higher capability of choosing females as the successor of family businesses are the main reason why there are twice as many ultra-rich women in China's Hong Kong (as a percentage) than in other regions.

In the report, Hong Kong was found to have 3,335 ultra-rich people, hitting a record high with an increase of 155 ultra-rich individuals over the previous year. Moreover, the number of ultra-rich people ranks 4th place in Asia and 13th worldwide. The ultra-rich in Hong Kong are collectively valued to hold U.S. $595 billion under their control, with ultra-rich women having 15 percent of the total.

The report shows that almost 34 percent of ultra-rich women are self-made, while more than half of them merely inherited their wealth.

The official added that there will be an increase in the number of ultra-rich women in the near future, with more women taking over their family businesses and benefiting from an enlarged investment scope.

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