Merrill Lynch and consulting company Capgemini recently released the 2008 World Wealth Report, outlining what the world’s ultra-rich are splurging on. High Net Worth Individuals (HNWI) are those with at least $1 million in financial assets, excluding collectibles, consumables, consumer durables, and primary residences. Ultra-High Net Worth Individuals (U-HNWI) hold at least $30 million in financial assets, excluding the same variables.
What these individuals spend their money on is different by region and that’s nothing surprising. Euro and Latin American individuals spent the most money on art, while travel and luxury collectibles were the top things on Americans must-have lists.
To read about the story in depth, head over to forbes.com!