Rich Demographics 2003
This week the BRW published their 2003 Rich 200 edition profiling the 200 Australians with highest asset values. Total wealth of the 200 this year was $63.2 billion, down only slightly from $64.9 billion in 2002. Average wealth was $316 million and the entry level was $85 million.
An article in BRW by Andrew Dyer of Boston Consulting Group, analyses the historical concentration of wealth for Australians. It shows that the top 20% of Australians owned 90% of assets in 1915, 54% in 1967, 63% in 1986 and has remained stable at around 64% since then. The main reason for this is the contribution to the broader populations wealth from compulsory superannuation and property prices increase.
International comparisons are provided based on the top 5% ownership of total assets. For Australia this is 59%, Japan 67%, UK 71%, Germany and France 60%, Canada 62% while USA still stands out with the most concentration in wealth at 83%.
Posted Sunday, 25 May 2003
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