The wealth of the world’s richest people, often leaders of legacy business families, has been hit the hardest by global economic turbulence to the tune of $2 trillion—the first downturn in seven years.
The wealth of ultra-high net worth individuals (UHNWI), who represent the richest 1% of the world’s high net worth individual (HNWI) population, accounted for 75% of the total global wealth decline, according to the new World Wealth Report 2019 released this week.