Multi-millionaires on the increase

Despite the vice-grip of crisis, there are more Portuguese multi-millionaires than ever before, and their joint fortunes are rocketing.

A report by the Swiss Bank UBS concludes there are 85 new national multi-millionaires this year -with fortunes up by 11.1%.

The combined amount of Portugal’s 870 multi-millionaires for 2013 is thus an eye-watering $100 billion (€75 billion).

But before we get too impressed, the study shows that Greek multi-millionaires have managed to increase their personal fortunes by 20% since 2012 – despite their own country’s desperate financial problems – although there are not as many Greek multi-millionaires as there are Portuguese.

Portugal ranks 12th on the European mega-rich list, with Germany, not surprisingly, holding on to first place, boasting a staggering 17,820 “champagne Charlies”. England and Switzerland come in behind Germany – with London, Paris and Zurich being the cities most chosen by the mega-rich to live in.

UBS’s report concludes that 23% of the total wealth of the planet lies in the hands of 2,170 multi-millionaires – and most of them can be found in Europe and North America.