Hong Kong’s Millionaires Sprouting Like Dandelions

With a whopping 36% growth rate, Hong Kong's millionaires club just got that little less exclusive

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ALEX HOFFORD / EPA

A general view shows Hong Kong's Victoria Harbour as seen from the Tsim Sha Tsui waterfront, Kowloon, Hong Kong, China, June 10, 2013.

In case Hong Kong’s interminable parade of muscle cars hasn’t given it away, a new study reveals that the city has the fastest growing club of millionaires in the world. The number of “High Net Worth Individuals,” those fortunate enough to hold $1 million or more in assets, has grown by a whopping 36% over the last 12 months, according to Capgemini and RBC Wealth Management.

(MORE: Asian Millionaires Will Soon Oust North Americans From Top of Wealth List)

Interestingly, the swelling ranks of super-rich in Hong Kong are among the most pessimistic millionaires in Asia. Just 77% said they are confident in their ability to generate wealth next quarter, compared with 95% in mainland China. But then, looking at the interactive graphic of the jumps and drops in their fortunes, compared with the steady rise of their peers in the mainland, one can see why they might feel a little less secure. Nothing a spin in a Ferrari can’t fix.

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