The UK's Wealthy are Currently Experiencing Very Different Fortunes

The UK's Wealthy are Currently Experiencing Very Different Fortunes PR Newswire LONDON, August 16, 2012 LONDON, August 16, 2012 /PRNewswire/ -- Ultra wealthy see largest recent gains 2007 shuffled the pack… … before 2008 saw the wealthiest lose the most New data on the wealthy population in the UK produced by Ledbury Research reveals just how volatile the fortunes of the wealthy are in the country. The data, contained in Ledbury's Wealth Size data set, shows that while those with £1m or more managed to grow their wealth by a respectable 14% during 2011, those with £10m and above grew theirs at twice this rate (28%) and those with a minimum of £100m recorded a massive increase of 43%. James Lawson, a Director at Ledbury Research, comments, "This represents the highest divergence in performance of the top and bottom ends of the wealthy population since Ledbury began its in-depth tracking in 2006, and underlines the current turbulence in wealth distribution." "At the outset of the financial crisis in 2007, many of the wealthy dropped down the wealth bands. More specifically, the numbers and wealth of millionaires grew (10.7% and 0.2% respectively), whilst those worth more than £50m saw their population and assets fall. "By 2008, when the crisis had taken root, every wealth band above £1m saw a drop in their fortunes, though it was felt more acutely by the ultra high net worth individuals where those worth over £100m lost 33%.