Citi says multimillionaires in Hong Kong have been diversifying their assets and carrying out risk management as well. Photo: Reuters Citi says multimillionaires in Hong Kong have been diversifying their assets and carrying out risk management as well. Photo: Reuters
Citi says multimillionaires in Hong Kong have been diversifying their assets and carrying out risk management as well. Photo: Reuters

Hong Kong’s multimillionaire population hit record high last year even as its economy had its worst recession on record

  • About 515,000 people are estimated to have US$1.28 million each in total assets last year, up from 413,000 in 2019, according to Citibank’s Hong Kong Affluent Study 2020
  • As governments took measures to save economies, many investment instruments appreciated in value, generating gains for investors, lender’s head of retail banking says

Topic |   Hong Kong economy
Citi says multimillionaires in Hong Kong have been diversifying their assets and carrying out risk management as well. Photo: Reuters Citi says multimillionaires in Hong Kong have been diversifying their assets and carrying out risk management as well. Photo: Reuters
Citi says multimillionaires in Hong Kong have been diversifying their assets and carrying out risk management as well. Photo: Reuters
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