Date
23 November 2017
Property and stock market investments, apart from business ventures, have contributed to a rise in multimillionaires numbers in Hong Kong. Credits: Bloomberg, Monopoly/Facebook
Property and stock market investments, apart from business ventures, have contributed to a rise in multimillionaires numbers in Hong Kong. Credits: Bloomberg, Monopoly/Facebook

HK had 56,000 multimillionaires in 2014: survey

Hong Kong had at least 56,000 multimillionaires and more than 700,000 millionaires in 2014, according to a survey released by Citibank.

Among the multimillionaires, defined as those having at least HK$10 million in liquid assets, males made up 70 percent while females accounted for the rest, the survey showed.

About 18 percent of the multimillionaires are said to be single.

Meanwhile, the number of millionaires — defined as those holding at least HK$1 million in liquid assets, were estimated at 701,000, down from 732,000 in 2013, Apple Daily reported. 

The results were based on telephone interviews with 3,419 residents aged between 21 and 79.

Multimillionaires’ total assets averaged HK$49 million, of which property assets took up 53 percent.

The report did not elaborate on how the millionaires accumulated the wealth, but property and stock market investments and business ventures were seen as the main routes.

Multimillionaires were 58 years in age on average. Most of the people were said to have made their first million by the time they were 33.

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