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Economy

Ranks of crazy rich Asians grow but heirs face uncertain future

Studies show region's wealthy shy away from touchy subject of succession

A Maserati dealership in Seoul: South Korea saw the biggest jump in the number of high net worth individuals last year, according to Knight Frank's survey.    © Reuters

SINGAPORE -- The ranks of Asia's superrich are growing, but their knack for making money does not mean they know how to pass it to the next generation, new research suggests.

The region's class of high net worth individuals -- those with over $30 million -- swelled by 13% or nearly 12,000 people last year, according to a report published by London property consultancy Knight Frank in early March.

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