In 2022, the number of people earning $30 million or more decreased by 4% among the ultra-wealthy population. However, this trend may not continue as it could significantly reverse.
, which saw its ultra-wealthy population decrease 8.5 percent. France, Germany, Spain, and other countries experienced double-digit declines. Knight Frank reportedly attributed this to the ongoing conflict between Russia and Ukraine, which has led to tumult in financial markets globally.
The report noted that not every region experienced such a decline. Individuals with at least $30 million increased nearly 17 percent in Saudi Arabia and the United Arab Emirates due to economic and real estate growth. Although’s turbulent economy caused a drop in Asia’s overall ultra-wealthy population, Malaysia, Indonesia, and Singapore saw their numbers increase 7 percent to 9 percent.
The U.S. only experienced a 1 percent drop in its own $30 million-plus population. But the world will likely see the population grow dramatically in the future, with Knight Frank’s forecast expecting the global ultra-wealthy population to grow by 28.5 percent through 2027. have to be in 25 countries in order to be considered in that nation’s 1 percent. There was a wide spectrum across the globe: In the United States, a person would need $5.
As for an even more exclusive financial tier, billionaires appear to be having a pretty good 2023. The found that the 500 richest people internationally have collectively gained more than $600 billion just this year. Being in the 10-figure club has its perks, it seems.
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