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The number of millionaires grew by 200,000 to 1.16 million in Australia over the 12 months to mid-2017, according to research by Credit Suisse.
And the number of ultra-high-net-worth (UHNW) individuals in Australia — those with a net worth of $US50 million ($65.5 million) — jumped by 30 per cent to almost 3000, according to the latest edition the Global Wealth Report.
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"No other part of the wealth pyramid has been transformed as much since 2000 as the millionaire and ultra-high-net-worth individual segments," says Alex Wade, the head of Australia, and developed and emerging asia, private banking, Credit Suisse.
Calculations by Credit Suisse suggest that 148,200 worldwide can be classed as UHNW individuals. Of these, 54,800 are worth at least $US100 million ($130 million), and 5700 have assets above $US500 million ($655 million).
