WORLD - Where the World’s Super-Rich Live

Arno Froese

With their private jets and multiple houses, the world’s mega-rich are the ultimate globetrotters.

Yet about half of this elite population have their main residences within a group of just 10 cities, according to Knight Frank’s 2019 Wealth Report, which lists London, Tokyo and Singapore as home to the most people worth at least $30 million. Although the US is the world’s largest economy, New York is its only city in the real estate brokerage’s top 10.

The world had almost 200,000 ultra-high-net worth individuals last year, according to the broker’s wealth study, with more than two-thirds of them across Asia, Europe and North America. Europe is the biggest regional center for this population globally, while the surge among Asian economies means the world will have more than 20 million people worth at least $1 million for the first time this year.

Asia’s economic growth is boosting luxury investments worldwide. Last year, China and Hong Kong buyers accounted for about a quarter of purchases in London homes worth at least 2 million pounds ($2.6 million), according to Knight Frank, almost doubling from two years earlier. The region’s rich also boosted demand for luxury collectibles, helping push the broker’s Rare Whisky 100 Index up 40 percent last year.

Rarity and provenance also drove sales of art and vintage cars to new highs in 2018. Highlights include the $48 million auction of a 1962 Ferrari 250 GTO and the $90.3 million bid for a David Hockney painting, the most paid at auction for a work by a living artist.

-www.business-standard.com, 6 March 2019

Arno's commentary

Today, the mixture of capitalist, socialist, and communist philosophies have created a globalist elite not known heretofore.

These wealthy people totally ignore international borders, customs, language, and traditions. In most cases, they are above and beyond the reach of national regulations.

A recent article in the EU Observer headlines an article, “Malta and Cyprus, EU Passport Sales Under Fire.” It documents that Malta and Cyprus have sold more than 6,000 national EU passports. It continues, “…have been used profusely by Russian citizens and citizens from countries under Russian influence.” Thus, one clearly sees, to obtain a passport, it’s just a matter of money.

However, these super-rich are greatly admired by the general public. Actually, many media organizations entice the masses to follow in the footsteps of the super-rich. One only has to look at the publications prominently displayed at the checkout counter in the supermarket. But what does the Bible say? “Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter. Ye have condemned and killed the just; and he doth not resist you” (James 5:5-6).

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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