Number of 🇵🇭 $ millionaires in 2020

[hope088]

Below are the # of

• High-Net-Worth Individual (HNWI) with at least $1 million in liquid financial assets
• Very-High-Net-Worth individual (VHNWI) with at least $5 million in liquid financial assets
• Ultra-High-Net-Worth Individual (UHNWI) with at least $30 million in liquid financial assets

Forex: $1 = ₱50

Number of Adults
Wealth Range in ₱
Wealth Range in $
Top % Adults
5% net worth rule for car buying in ₱
10% net worth rule for car buying in ₱

70,140
50-250m
1-5m
0.12092%
2.5-12.5m
5-25m

6,363
250-500m
5-10m
0.01618%
12.5-25m
25-50m

3,872
500m-2.5b
10-50m
0.00667%
25-125m
50-250m

345
2.5b-5b
50-100m
0.00089%
125-250m
250-500m

217
5b-25b
100-500m
0.00037%
0.25-1.25b
0.5-2.5b

34
25+b
500+m
0.00005%
1.25+b
2.5+b

In the Credit Suisse Wealth Databook they count 66,960,000 adults

80,971 Pinoys with >$1 million ÷ 66,960,000 adults = 0.12092%

adults with >$1 million would be part of the top 0.12092%

Source: Credit Suisse Wealth Databook (2021) Page 126

When we cross reference Forbes Philippines' 50 Richest then the 34 individuals on the Credit Suisse Wealth Databook with $500+m aligns very closely to the top 30 of Forbes.

 

[rubytiger18]

@hope088 3-term politicians probably easily crack these standards. I am a contractor for the govt and the obscene grease money we pay to the politicians easily justifies why they spend alot of money to maintain their positions.

 

[debbiesdispensational]

@rubytiger18 I second. We’re a contractor too.

 

[rubytiger18]

@debbiesdispensational It's unfair lol. One misstep and we lose money while they earn guaranteed money with no risk and effort.

 

[debbiesdispensational]

@rubytiger18 We just had a meeting the other day.

God bless the Philippines

 

[pameyla]

@rubytiger18 Agreed. Just read news about how Deped spent 58k a pop for an intel celeron laptop. Imagine paying Macbook M1 price for a laptop that's probably not worth more than 15K. Someone earned a shitload of money from this deal, and it ain't the teachers.

 

[mysticalrose]

@hope088 Gaano kaya kadami kung considered yung ibang assets? Gaano pa kaya kadami yung hindi dinedeclare ang yaman nila?

 

[hope088]

@mysticalrose I think the list is based on best effort publicly available data.

In truth the studies are made for ballpark figure to gauge whether it is worth Credit Suisse's time to do business here or not.

At ~81,000 $1 millionaires there is a large-ish market for wealth managers.

 

[incrediblyabsurd]

@mysticalrose This. For sure di accurate yung mga nasa 2.5-25b+ na brackets.

 

[eccemachina]

@hope088 How many of them are in this sub, you think?

 

[resjudicata]

@eccemachina You are in Reddit, you can be one if you want.

 

[limpingtowardsorthodoxy]

@eccemachina A handful from the first two brackets, I'm guessing. It'll mostly be OFW/dual citizen retirees or their children, & most won't be regulars - because that's enough liquidity to not care too much after their 1 or 2 quick questions about returning to the Philippines are answered lol

I doubt the ones who already have more than the 1st bracket locally would care about a sub like this - unless they're active speculators watching out for possible new ventures. They already have access to a lot of actual professionals for traditional investments.

Edit: merkadobarkada posts would probably bring in more, but as readers.

 

[hope088]

@eccemachina

How many of them are in this sub, you think?

121,576 readers x 0.0718386088% = 87.3385070452

I changed it from all 112.7+ million Filipinos alive to to all 66,960,000 adults.

121,576 readers x 0.12092% = 147.0150881

Then applied Pareto Principle

147.0150881 x 0.20 = 29.40301761 or less than 30 adults on /r/phinvest would have >$1 million liquid financial assets

 

[rphoenix3d]

@hope088 I'm not sure if this is right tho (80,971*(121,567/total population))*0. 071838 = 7?

 

[rphoenix3d]

joke I got 87.33 too

 

[hope088]

@rphoenix3d

joke I got 87.33 too

Using Pareto Principle then it gets reduced further to 17.46770140 or less than 18 people.

 

[jalvarez4jesus]

@eccemachina am one of them /s

 

[rskovride]

@hope088 The problem with using liquid financial assets is that many businessmen park money in very illiquid assets like land for two reasons:

1. Capital gains are substantial over time
2. Money in banks only enriches the bankers and WILL cause leakages.

 

[metaman]

@hope088 marating din natin yan, remind me in 5 years

 

[tdh86]

@hope088 So for example I have a multibillion peso company. Let's say PHP10B worth of asset that isn't listed in the PSE. I would probably just land on the first bracket (50-250M) just because yun lang ang cash flow sa bank ko.

But let's say I own FRUIT (Fruitas) with a market cap of 2B PHP. then asa 3rd bracket na agad ako, just because listed yung company ko sa PSE.

Just for context FRUIT Total asset is at 1.6B