What The Super-Rich Worry Most About

Representational image
Representational image

Money makes the world go around, as the popular adage goes; but it also sure does bring with it, its share of worries.

So, have you ever wondered what the ultra-rich of the world worry about the most?

According to an annual attitudes survey of the ultra-wealthy compiled by Knight Frank, family succession issues were the number 1 worry of the super-rich.

The report is based on a detailed survey of almost 500 leading private bankers and wealth advisors from across the globe, and reflects the attitudes of their ultra-wealthy clients who have a combined wealth of over $1.7 trillion. Ultra-high-net-worth individuals (UHNWI) are those with a net worth of over $30 million.

Among the respondents, 85 per cent said their clients were concerned about the handover of family wealth to the next generation.

"It was not the global geopolitical and economic issues that tend to spook stock markets that were of the most concern, but more personal issues," Knight Frank said.

A potential increase in wealth taxes (81 per cent) and increased government scrutiny of wealth (80 per cent) were the second and third most distressing issues for the super-rich, according to the survey.

The growing power of the internet - both in terms of cyber-crime and the ability to invade privacy and damage reputations - led 76 per cent of respondents to highlight it as an area of concern, the report said.