Ultra-rich people on rise in Turkey: Poll

Ultra-rich people on rise in Turkey: Poll

Ultra-rich people on rise in Turkey: Poll

The number of ultra-wealthy Turkish people increased to 900 in 2013, according to a global survey, while the country ranks 7th in the world with 44 billionaies. AP photo

The number of ultra-wealthy people in Turkey increased to 900 in 2013 with a 10.5 percent increase from the previous year, making the country eleventh in Europe, according to the Wealth-X and UBS Billionaire Census 2013, although Turkey ranks seventh in the world according to Forbes magazine’s billionaire list with 44 billionaires.

The report gives insight into the world’s ultra-wealthy population, defined as those with net assets of $30 million and above, by region, country, wealth tiers, gender and between old and new money.

The total of the world’s wealth this from this population is equivalent to 40 percent of the world’s GDP, despite accounting for approximately 1 in every 35,000 people. Their wealth has increased to $27.8 trillion from just under $2 trillion in the past 12 months, greater than the GDP of India, the report showed. North America and Europe bounced back in the past 12 months. Strong equity markets have buoyed the wealth despite high unemployment and slow GDP growth in Europe. Only the Middle East increased its wealth faster than North America and Europe.

Despite slowing growth in Asia, Asia’s billionaire population grew by 18 individuals to 508 in 2013 and their total wealth rose 13 percent to $1.19 trillion, according to the report. Meanwhile, the number of European billionaires declined by 29 individuals to 766, but their collective wealth rose by 3.7 percent to $2.12 trillion.

Turkey ranks 7th in Forbes billionaire list

According to Forbes magazine’s 2013 billionaires list, Turkey has been ranked seventh in the world and second in Europe with 44 billionaires. There are 1,426 people on the list, which shows the decline of the West and the rise of the rest. Gone are the days when U.S. billionaires accounted for over 40 percent of the list, with Western Europe and Japan making up most of the rest. Next in line after the U.S., with its 442 billionaires today, China, with 122 billionaires (up from zero billionaires in 1995) comes second, and Russia third with 110. Germany is fourth on the list with 58 billionaires, followed by India (55), Brazil (46), Turkey (44), Hong Kong (39), and the UK (38).