Ireland has more multimillionaires than Belgium and UAE

85 new Irish multimillionaires created in 2016, placing Ireland at 24th in wealth list

Some 85 new multimillionaires were created in Ireland last year – an increase of 6.4 per cent on the previous year.

The results rank Ireland in 24th place of the Wealth-X report 2017, which measures the global ultra wealthy population and their total worth. The ranking places Ireland higher than a number of countries including Belgium, Thailand and the United Arab Emirates.

An individual is classified as ultra-high net worth if they have $30 million (€26.7 million) in net worth. This universe grew globally by 3.5 per cent in 2016 and those individuals increased their wealth to $27 trillion.

The US had the largest UHNW population with more than 73,000 people holding over $8.7 billion.

Peter Hamilton

Peter Hamilton

Peter Hamilton is a contributor to The Irish Times specialising in business