Dollar millionaires in Russia plunge by a quarter over last decade
According to the international investment migration advisory firm, there are currently 409 people with a net worth of over $100 mln in Russia, as well as 43 dollar billionaires.
The number of dollar millionaires living in Russia has fallen by 24% since 2013 to 68,400 people, ranking the country last among BRICS members, Henley & Partners said in its report.
The international investment migration advisory firm notes that an outflow of millionaires was also observed in the four other BRICS members: South Africa (- 20%), Egypt (- 22%), Brazil (- 28%), and Iran (- 38%). The pool of millionaires surged by almost twofold in China and now stands at over 860,000. The indicator soared by 85% in India to 326,000 and in the United Arab Emirates by 77% to 116,500.
According to estimates from Henley & Partners, there are currently 409 people with a net worth of over $100 mln in Russia, as well as 43 dollar billionaires. Russia ranks third as regards these two indicators after China (2,352 and 305 respectively) and India (1,044 and 120).
Henley & Partners estimates total accumulated investments in BRICS members at $45 trillion. According to the firm's projections, the number of dollar millionaires in all the group’s members will grow by 85% by 2033 from 1.6 mln at present to over 3 mln.
"BRICS as an organization offers a set of dynamic markets with relatively stable political systems that could influence the future of the global economy. The strength of these economies lies for some in the dynamism of their SMEs sectors and for others in the agility of their political systems. As an intergovernmental organization, therefore, the members of the expanded BRICS complement one other, which in turn ensures the sustainability of their creation of wealth," Senior Economist at the IMD World Competitiveness Center in Switzerland Jose Caballero said in a comment in the report.
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The number of dollar millionaires living in Russia has fallen by 24% since 2013 to 68,400 people, ranking the country last among BRICS members, Henley & Partners said in its report.
The international investment migration advisory firm notes that an outflow of millionaires was also observed in the four other BRICS members: South Africa (- 20%), Egypt (- 22%), Brazil (- 28%), and Iran (- 38%). The pool of millionaires surged by almost twofold in China and now stands at over 860,000. The indicator soared by 85% in India to 326,000 and in the United Arab Emirates by 77% to 116,500.
According to estimates from Henley & Partners, there are currently 409 people with a net worth of over $100 mln in Russia, as well as 43 dollar billionaires. Russia ranks third as regards these two indicators after China (2,352 and 305 respectively) and India (1,044 and 120).
Henley & Partners estimates total accumulated investments in BRICS members at $45 trillion. According to the firm's projections, the number of dollar millionaires in all the group’s members will grow by 85% by 2033 from 1.6 mln at present to over 3 mln.
"BRICS as an organization offers a set of dynamic markets with relatively stable political systems that could influence the future of the global economy. The strength of these economies lies for some in the dynamism of their SMEs sectors and for others in the agility of their political systems. As an intergovernmental organization, therefore, the members of the expanded BRICS complement one other, which in turn ensures the sustainability of their creation of wealth," Senior Economist at the IMD World Competitiveness Center in Switzerland Jose Caballero said in a comment in the report.
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