Strong Wealth Growth for U.S. HNWIs
U.S. HNWIs remained a dominant force in global HNWI wealth growth in 2014, underscoring their high profile in leading the worldwide HNWI recovery from the financial crisis. The number of HNWIs in the country expanded to 4.4 million, an increase of 8.6%, while their investable wealth grew by 9.4% to US$15.2 trillion. These record numbers extended the lead role U.S. HNWIs have played in contributing to global HNWI wealth growth in the aftermath of the crisis. Since 2008, the U.S. has accounted for 28.6% of new HNWI wealth added globally.
Much of the U.S. HNWI wealth is concentrated in 12 metro areas representing about two-thirds of HNWI population, which is about three-quarters of its wealth.
Within these 12 cities, HNWIs grew their investable wealth by US$1 trillion (or 10.1%) to US$11.4 trillion during 2014, which was above the U.S. average growth rate. Nine of these top 12 metro areas have had annualized wealth growth since 2008 that was at or above the U.S. average of 8.6%, helping to push both U.S. and global HNWI wealth improvement. Since 2008, the wealthiest 12 cities in the U.S. have accounted for 22.5% of new HNWI wealth added globally.
U.S. and Top 12 MSA HNWI Wealth, 2009–2014
Note: The total for all years are expressed in US$ trillion and the US$ billion in chart title does not apply to those numbers; Chart numbers may not add up due to rounding
Source: Capgemini Financial Services Analysis, 2015