Ultra High-Net-Worth Individuals: The Return of Confidence
A population 94.5% located in the northern hemisphere
In 2023, the global UHNW population grew by +7.9% to reach a record 426,330 — a sharp rebound following the temporary decline in 2022.
By BARNES International — Source : Wealth-X, an Altrata company 2024
In 2023, the global UHNW population grew by +7.9%, reaching a record 426,330 — a sharp rebound following the temporary decline in 2022. Private wealth has been principally supported by rising share value at the end of the year, particularly in developed countries. The positive context boosted combined UHNWI worth to $49,159 billion, an increase of +8.2%.
The ultra-high-net-worth population is back on the growth track after contracting in 2022. Uncertainties remain for 2025, set against a troubled geopolitical landscape marked by the war in Ukraine, growing tensions between China and the West, and the accelerating impacts of climate change. By 2028, the UHNW population is projected to reach 587,650 individuals.
The 10 cities with the highest number of UHNWI
By 2028, almost 42% of UHNWI will be living in one of the top 50 UHNWI cities, compared to 38% in 2015. This steady growth illustrates an increasingly international geographic distribution of the wealthiest families, who are now more mobile and better connected than ever.
