Statistical Profile of the Hong Kong UHNWI
Against the backdrop of a red hot premium property market, Hong Kong‘s ultra wealthy population holds US$43 billion worth of real estate assets, representing 9% of the total net worth of its UHNW population, according to the lastest study released by Wealth-X, a provider of detailed intelligence on ultra high net worth (UHNW) individuals globally.
The statistical profile of the typical Hong Kong ultra high net worth individual (UHNWI) based on demographic and wealth indicators shows that the typical Hong Kong UHNWI is 57 years old, married and self-made with an average net worth of US$150 million and liquid assets of US$34 million. Collectively, Hong Kong UHNWIs own US$52 billion worth of luxury assets, ranging from private aircraft to art and collectibles. The average Hong Kong UHNWI owns US$14 million worth of real estate holdings.
To develop its Net Worth Valuation, Wealth-X research used a proprietary valuation model to assess all asset holdings including privately and publicly held businesses and investible assets.
“Among assets, real estate continues to dominate Hong Kong UHNWIs’ luxury portfolios,” Wealth-X CEO, Mykolas D. Rambus said. “The continuing allure of property is very much attributable to wealth creation particularly for Hong Kong where real estate has been the source of wealth for many of Hong Kong’s storied billionaires that include Li Ka Shing , Lee Shau Kee and Cheng Yu Tung”.
“Our analysis shows that UHNWIs above 70 years of age represent 25% of the Hong Kong UHNW population with an average net worth of more than US$100 million. Collectively, they hold more than 40% of the total wealth attributable to hectomillionaires. This means a significant phase of wealth transfer is likely to take place in the next 15-20 years. The ability to understand these UHNWIs and their social networks is key to success in becoming the chosen service provider in the wealth transfer process,” added Rambus.
Here are some interesting facts gathered by Wealth-X:
• UHNWIs in Hong Kong are aged 57 and have net worth exceeding US$150 million on average.
• The oldest UHNWI in Hong Kong is 105.
• 1 in 4 UHNWIs in Hong Kong is female.
• Top 3 universities with the largest number of UHNW Alumni in Hong Kong are Stanford University, Harvard University
and the University of Hong Kong.
• 6 of 8 Ivy League universities are in the top 20 universities preferred by Hong Kong UHNWIs.
• More than 20% of the Hong Kong UHNW population is in Finance & Banking.
• Textiles, Apparel & Luxury Goods industry has the 2nd largest UHNW population by sector in Hong Kong.
• You are least likely to find a UHNWI in the Biotechnology or Legal Services industry in Hong Kong.
• 2.3% of Hong Kong UHNWIs are billionaires with males outnumbering females by a ratio of 6:1.
• 7% of the UHNWIs in Hong Kong are under40 with males outnumbering females by a ratio of 4:1.
• 13% of UHNWIs in Hong Kong were born in the year of the Monkey while only 3% were born in the year of the Dog.
• The most common zodiac sign for UHNW men in Hong Kong is the Rabbit while it’s the Monkey for UHNW women.
• UHNWIs in Hong Kong are aged 57 and have net worth exceeding US$150 million on average.
• UHNWIs in Hong Kong born in the year of the Goat are the least wealthy zodiac sign on average.
• Over 36% of the UHNWIs in Hong Kong are based in Hong Kong island compared to 14% in Kowloon.
• Real Estate, Art and Horse Racing are among the top 10 common interests among Hong Kong UHNWIs.
AVERAGE AGE
57
TOP INDUSTRY
Finance & Banking
GENDER
75% Male
25% Female
AVERAGE NET WORTH
US$ 150 million
MARITAL STATUS
95% Married
2% Single
3% Divorced
AVERAGE LIQUIDITY
US$ 34 million
WEALTH SOURCE
57% Self-Made
21% Inheritance/Self-Made
22% Inheritance
TOP 5 INDUSTRIES
22% Finance & Banking
13% Textiles, Apparel & Luxury Goods
9% Manufacturing
8% Real Estate
8% Industrial Conglomerates
LUXURY ASSETS AS A % OF NET WORTH
9.1% Real Estate
0.2% Art
0.7% Planes
1.0% Yachts
11.0% Total
Luxury assets of $16.5m per UHNWI
Collective luxury holdings of $52 billion.
