KUALA LUMPUR, May 30 — How much do you need to be in the top 1 per cent of your country’s population in terms of wealth? Just US$485,000 (or over RM2.2 million using today’s...
KUALA LUMPUR, May 30 — How much do you need to be in the top 1 per cent of your country’s population in terms of wealth?
According to Knight Frank’s latest edition of its The Wealth Report , its own definition of an ultra-high net worth individual — someone who owns more than US$30 million wealth — actually requires greater wealth size compared to what is perceived as “the 1 per cent”. However, the same report said the number of wealthy individuals has continued to grow in Malaysia, with those being high net worth individuals or owning over US$1 million numbering 58,395 persons in 2017, before growing to 66,682 in 2021 and to 85,126 in 2022.
The latest official statistics from the Department of Statistics Malaysia as of May 11 show that the Malaysian population is estimated to number 33.2 million, comprising 30.4 million citizens and 2.8 million non-citizens. Even in glitzy Monaco which has the world’s highest concentration of super-rich individuals, all you need is US$12.4 million in wealth to join its top one per cent of the population in terms of wealth.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kes rasuah Adam Radlan dipindah ke Mahkamah Sesyen Kuala Lumpur | The Malaysian InsightPemimpin Bersatu Segambut didakwa menerima rasuah RM2 juta dan meminta rasuah RM2 juta.
Read more »
Suunto Vertical Smartwatches To Have Prices Starting From RM2,799 In MalaysiaSuunto last announced a smartwatch back in November of last year, and now the company has revealed another. The new
Read more »
Tolak warga emas hingga patah gigi, samun RM2,150Polis berkata suspek dipercayai memasuki rumah mangsa berusia 68 tahun melalui pintu hadapan yang tidak berkunci.
Read more »
PetChem’s Q1 net profit plunges 74%The group’s net profit decreased to RM532 million from RM2.08 billion the previous year.
Read more »
Kein Ai Ng joins TrueMoney Malaysia as Head of Marketing and PartnershipsShe was formally from Hong Leong Bank Achievements include management of a US$4.496 bil portfolio TrueMoney Malaysia has appointed Kein Ai Ng (pix), as their Head of Marketing and Partnership for Malaysia. Kein Ai was previously from Hong Leong Bank, where she was the Head of Merchant Sales in Malaysia. At Hong Leong Bank, Kein Ai managed a portfolio of US$4.469 billion (RM20 billion). Her role involved driving the adoption of the bank’s cashless solutions among Malaysian businesses, which included acquiring most of the car park operators in Malaysia to come on board.
Read more »