Wealth-X Finds Total Net Worth of Australia’s Super Rich at US$350 billion

Fortunes Are Set to Soar on Currency Might and Commodities Boom, Says Global Intelligence Firm
 
15 November 2011, Sydney – Australia’s ultra affluent individuals have a combined net worth of US$350 billion, and are flushed with new wealth brought by rocketing commodity prices, “once in a century” mining boom, the strength of the nation’s currency and steady economic expansion, according to the latest intelligence briefing by Wealth-X today.
 
The Singapore-based wealth intelligence, prospecting and wealth due diligence company ranks Australia, home to 2,740 individuals with a net worth of at least US$30 million each, as the country with the largest population of ultra high net worth individuals (UHNW) within the Oceania region. New Zealand, another Oceanian country, lags far behind with 480 UHNW individuals.
 
Wealth-X estimates there are 30 billionaires in Australia. This group of billionaires or the top one percent of the UHNW population control 23 percent of the total wealth of the country’s UHNW population. There are nearly 100 individuals in Australia worth at least US$500 million, and approximately 305 individuals worth US$200 million to US$499 million.
 
Official Launch of Sydney Office
 
“One of the factors keeping the Aussie dollar buoyant is the commodity outlook. China’s appetite for iron and coal remains unabated and that will keep Australia in a bright spot,’’ said Mykolas Rambus, Wealth-X CEO, who shared highlights of the Intelligence Briefing on Australia at a press conference in Sydney. He was also there to officially launch the company’s Sydney office and announce the appointment of Adrian Jenkinson as Head of Wealth-X Australia.
 
“We have already covered Australia and opening an office here will solidify our position to capture the fast growing market. Wealth-X has a global reach and we are actively expanding our business,” added Mr Rambus.
 
For more information visit: www.wealthx.com/articles/2011/australia-wealth-by-tier
 
ABOUT WEALTH-X
 
Wealth-X provides its members with qualified prospects and intelligence on ultra high net worth (UHNW) individuals, along with the privately held companies they control. We work with 7 of the top 10 global private banks, not-for-profits and luxury brands. Our firm’s online business development solution profiles individuals who represent US$ 10.7 trillion of the world’s net wealth. Wealth-X offers exclusive details on ultra wealthy individuals, including their wealth, income, passions, philanthropic interests, affiliations, politics, advisors, families and biographies. Wealth-X is the global leader on UHNW individuals and the worldwide standard for professionals working with the ultra affluent. Headquartered in Singapore, Wealth-X has offices in New York, Guangzhou, Mumbai, Lugano, Sydney and London.
 
For Press Inquiries, please contact:
press@wealthx.com