2015: The Sad Decline Of The Super-Rich Person

Shed a tear for the people who dropped out of the coveted $30+ million in assets class.

The mystery of why Steve Cohen’s apartment remains on the market has been solved: There just aren’t a critical mass of people rich enough to buy it anymore, and Ken Griffin is stubbornly refusing to take it off Steve’s hands.

The number of individuals with $30 million or more in assets fell 3% in 2015 to about 187,000, according to a report from real-estate broker Knight Frank….

Stock market losses were a big driver of depreciating wealth, the report said. A collapse in oil prices hit the super wealthy in the Mideast and Africa, while currency fluctuations also played a role.

World’s Superrich Population Declines for First Time Since 2008 [WSJ]