According to the Wealth-X, the report was generated following a complete analysis from various sources, including its own proprietary database of global UHNW individuals.
It states that combined wealth was accumulated when accounting for shares in public and private companies, residential and investment properties, art collections, planes, cash and other investible assets.
The report added that Russia has only 5% of UHNW individuals and accounts disproportionately for 16% of total BRIC wealth.
The Wealth-X intelligence briefing further details the 25,600 UHNW individuals worth more than $30m in the BRIC countries, whose accumulated total net worth is $4.1 trillion.
China is positioned first in terms of highest UHNW population and total wealth, followed by India, Brazil, and Russia.
Wealth-X executive vice president of strategy David Friedman said that in Russia as in other emerging markets there are few middle-worth UHNW individuals.
"Instead billionaires and near-billionaires, followed in aggregate by the mass UHNW with $ 30m to $200m, dominate wealth. The key for private wealth managers and luxury brands is to build separate sales strategies that appropriately address both ends of the marketplace," Friedman said.
