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Ultra-high net-worth people can help the economy

September 13, 2018 00:00:00

According to 'The World Ultra Wealth Report 2018' by New York-based research firm Wealth X, Bangladesh ranks number 1 in the list of countries that experienced the fastest growth in number of ultra-wealthy people.

The number of ultra-high net-worth (UHNW) individuals in Bangladesh has risen by 17.3 per cent between 2012 and 2017. The report defined UHNW people as individuals "with investable assets of at least $ 30 million, usually excluding personal assets and property" such as a primary residence, collectibles and consumer durables. As far as growth is concerned, Bangladesh is ahead of all other countries. However, USA still remains the leading country with most UHNW people in 2017, at around 31 per cent of the world.

It can be presumed that most of these rich people in Bangladesh do not have undisclosed money. Those with the wealth can be approached by the government to invest in major projects like Padma Bridge project and so on. Also, internationally most ultra-rich people like Bill Gates, Mark Zuckerberg and others allocate a significant amount of their wealth for philanthropic activities. Bangladesh can benefit from more philanthropic organisations, especially in rural areas.

Concerned departments of the government can consider these aspects.

Akibul Javed,

Indira Road, Dhaka

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