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Altrata World UHNW Report 2023: 395,070 UHNWs with $45.4 Trillion Wealth, 34.7 Million HNWs with $138.9 Trillion Wealth, Top 10 Most UHNW Countries United States, China, Germany, Japan, United Kingdom, Canada, Hong Kong, France, Italy, India

27th October 2023 | Hong Kong

Altrata (Wealth-X) has released the World UHNW Report 2023, providing key insights into Ultra high net worth (UHNW) population with more than $30 million net worth and total wealth of more than $45 trillion.  In 2023, there are 395,070 UHNWs representing 1.1% of HNWs with $45.4 trillion of wealth, and 34.7 million HNWs with $138.9 trillion wealth.  The UHNW population is expected to grow to 528,100 in 2027.  The current UHNW median wealth (50th Percentile) is $51 million.  Top 10 Most UHNW Countries – United States, China, Germany, Japan, United Kingdom, Canada, Hong Kong, France, Italy, India.  Top 10 Most UHNW Cities – Hong Kong, New York, London, Los Angeles, San Francisco, Chicago, Singapore, Paris, Tokyo, Tokyo.  UHNW Gender – 89.1% Male, 10.9% Female.  Global UHNW Average Age – Age 65.7.  UHNW Source of Wealth – Entrepreneurs / Self-made 72.6%, Corporate Executives 20.7%, Fully-inherited 6.7%.  Top 5 UHNW Entrepreneurs by Industry – Banking & finance, Business & consumer services, Real estate, Non-profit & social organizations, Technology 6.7%.  Top 5 UHNW Corporate Executives by Industry – Banking & finance, Business & consumer services, Real estate, Manufacturing, Technology.  Top 5  UHNW Sole Inheritors by Industry – Non-profit & social organizations, Banking & finance, Business & consumer services, Real estate, Food & beverages.  Asset Allocation by UHNWs Entrepreneurs – Public holdings 28.7%, Private holdings 31.7%, Real estate & luxury assets 3.4%, Liquid assets (cash, income & dividends) 36.2%.  Asset Allocation by UHNW Corporate Executives – Public holdings 19.3%, Private holdings 39%, Real estate & luxury assets 2.6%, Liquid assets (cash, income & dividends) 39.2%.  Asset Allocation by UHNW sole inheritors – Public holdings 26.3%, Private holdings 35.6%, Real estate & luxury assets 4.7%, Liquid assets (cash, income & dividends) 33.5%.  UHNW Plane / Jet – Entrepreneurs 25%, Corporate Executives 62%, Sole Inheritors 7%, Other UHNWs 6%.  UHNW Yacht – Entrepreneurs 40%, Corporate Executives 45%, Sole Inheritors 5%, Other UHNWs 10%.  Top 8 UHNW Interests, Passions & Hobbies by Entrepreneurs – Philanthropy, Sports, Technology, Public speaking, The outdoors, Education, Travel, Writing.  Top 8 UHNW Interests, Passions & Hobbies by Corporate Executives – Philanthropy, Sports, The outdoors, Public speaking, Education, Aviation, Technology, Travel.  Top 8 UHNW Interests, Passions & Hobbies by Sole Inheritors – Philanthropy, Sports, The outdoors, Art, Education, Travel, Aviation, Technology.  See below for key findings & summary | View report here

“ 395,070 UHNWs with $45.4 Trillion Wealth, 34.7 Million HNWs with $138.9 Trillion Wealth, Top 10 Most UHNW Countries United States, China, Germany, Japan, United Kingdom, Canada, Hong Kong, France, Italy, India “

 



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Altrata World UHNW Report 2023

Monaco | A country known for the rich and famous, with the highest GDP in the world and every 1 in 3 is a millionaire

Altrata (Wealth-X) has released the World UHNW Report 2023, providing key insights into Ultra high net worth (UHNW) population with more than $30 million net worth and total wealth of more than $45 trillion.

 

UHNW Summary:

  1. UHNW Population (> $30 million) – 395,070 
  2. North America UHNW Population – 142,990 (36.2%)
  3. Europe UHNW Population – 100,850 (25.5%)
  4. Asia UHNW Population – 108,370 (27.4%)
  5. 2027 UHNW Population Forecast – 528,100
  6. UHNW Median Wealth (50th Percentile) – $51 million 
  7. UHNW Wealth – $45.4 trillion
  8. Top 10 Most UHNW Countries – United States, China, Germany, Japan, United Kingdom, Canada, Hong Kong, France, Italy, India
  9. Top 10 Most UHNW Cities – Hong Kong, New York, London, Los Angeles, San Francisco, Chicago, Singapore, Paris, Tokyo, Tokyo
  10. UHNW Gender – 89.1% Male, 10.9% Female
  11. Global UHNW Average Age – Age 65.7
  12. UHNW Source of Wealth – Entrepreneurs / Self-made 72.6%, Corporate Executives 20.7%, Fully-inherited 6.7% 
  13. Top 5 UHNW Entrepreneurs by Industry – Banking & finance, Business & consumer services, Real estate, Non-profit & social organizations, Technology
  14. Top 5 UHNW Corporate Executives by Industry – Banking & finance, Business & consumer services, Real estate, Manufacturing, Technology
  15. Top 5  UHNW Sole Inheritors by Industry – Non-profit & social organizations, Banking & finance, Business & consumer services, Real estate, Food & beverages
  16. Asset Allocation by UHNWs Entrepreneurs – Public holdings 28.7%, Private holdings 31.7%, Real estate & luxury assets 3.4%, Liquid assets (cash, income & dividends) 36.2%
  17. Asset Allocation by UHNW Corporate Executives – Public holdings 19.3%, Private holdings 39%, Real estate & luxury assets 2.6%, Liquid assets (cash, income & dividends) 39.2%
  18. Asset Allocation by UHNW sole inheritors – Public holdings 26.3%, Private holdings 35.6%, Real estate & luxury assets 4.7%, Liquid assets (cash, income & dividends) 33.5%
  19. UHNW Plane / Jet – Entrepreneurs 25%, Corporate Executives 62%, Sole Inheritors 7%, Other UHNWs 6%
  20. UHNW Yacht – Entrepreneurs 40%, Corporate Executives 45%, Sole Inheritors 5%, Other UHNWs 10%
  21. UHNW Art Collection (> $5 million value) – Entrepreneurs 42%, Corporate Executives 38%, Sole Inheritors 8%, Other UHNWs 12%
  22. UHNW Cars & Vehicles (>$200,000 value) – Entrepreneurs 31%, Corporate Executives 48%, Sole Inheritors 6%, Other UHNWs 15%
  23. Top 8 UHNW Interests, Passions & Hobbies by Entrepreneurs – Philanthropy, Sports, Technology, Public speaking, The outdoors, Education, Travel, Writing
  24. Top 8 UHNW Interests, Passions & Hobbies by Corporate Executives – Philanthropy, Sports, The outdoors, Public speaking, Education, Aviation, Technology, Travel
  25. Top 8 UHNW Interests, Passions & Hobbies by Sole Inheritors – Philanthropy, Sports, The outdoors, Art, Education, Travel, Aviation, Technology

HNW Population & Wealth:

  1. Total HNWs – 34.7 million
  2. More than $30 million – 395,070 (1.1% of HNWs)
  3. $5 million to $30 million – 3.64 million (10.5%)
  4. $1 million to $5 million – 30.6 million (88.3%)
  5. Total HNW Wealth – $138.9 trillion

 

Altrata World UHNW Report 2023

1) 2022 Global Indicators:

  • 2022 GDP Growth: +3.4%
  • Advanced Economies: +7.3%
  • Emerging & Developed Economies: +9.8%
  • MSCI World Equity Index (USD): -18%
  • Oil Price (USD / Barrel): +39%
  • IPO Transactions: -57%
  • IPO Capital Raised: -72%

 

2) UHNW Population & Wealth

UHNW Population Growth:

  • 2004 – 157,000
  • 2015 – 276,640
  • 2023 – 395,070 
  • 2027 Forecast – 528,100
  • UHNW Median Wealth (50th Percentile) – $51 million 

2022 UHNW Population by Region:

  • Global – 395,070 (-5.4%)
  • North America – 142,990 (-4%)
  • Latin American & Caribbean – 11,560 (+17.5%)
  • Europe – 100,850 (-7.1%)
  • Middle East – 21,640 (+15.7%)
  • Africa – 3,020 (-4.4%)
  • Asia – 108,370 (-10.9%)
  • Pacific – 6,640 (-4.6%)

2022 UHNW Population % of World:

  • North America – 36.2%
  • Latin American & Caribbean – 2.9%
  • Europe – 25.5%
  • Middle East – 5.5%
  • Africa – 0.8%
  • Asia – 27.4%
  • Pacific – 1.7%

2022 UHNW Wealth Distribution by Region:

  1. Global – $45.4 trillion
  2. North America – $16.4 trillion
  3. Latin American & Caribbean – $1.4 trillion
  4. Europe – $11.7 trillion
  5. Middle East – $2.7 trillion
  6. Africa – $360 billion
  7. Asia – $12.1 trillion
  8. Pacific – $599 billion

2022 UHNW Wealth Distribution (%):

  1. North America – 36.3%
  2. Latin American & Caribbean – 3.2%
  3. Europe – 25.8%
  4. Middle East – 5.9%
  5. Africa – 0.8%
  6. Asia – 26.7%
  7. Pacific – 1.3%

 

3) HNW Population & Wealth

HNW Population by Segment:

  • More than $30 million – 395,070 (1.1% of HNWs)
  • $5 million to $30 million – 3.64 million (10.5%)
  • $1 million to $5 million – 30.6 million (88.3%)
  • Total HNWs – 34.7 million

HNW Wealth by Segment:

  • More than $30 million – $45.4 trillion (32.6% of UHNW wealth)
  • $5 million to $30 million – $36.2 trillion (26%)
  • $1 million to $5 million – $57.3 trillion (41.2%)
  • Total HNW Wealth – $138.9 trillion

 

4) UHNW by Countries & Cities

Top 10 UHNW Countries:

  1. United States – 129,665 UHNWs
  2. China – 47,190 
  3. Germany – 19,590 
  4. Japan – 14,940 
  5. United Kingdom – 14,005 
  6. Canada – 13,320 
  7. Hong Kong – 12,615 
  8. France – 11,980 
  9. Italy – 8,930 
  10. India – 8,880 

Top 10 UHNW Countries (Population Change):

  1. United States: -4.3%
  2. China: -7.1%
  3. Germany: -9.3%
  4. Japan: -21.9% 
  5. United Kingdom: -9.2% 
  6. Canada: -1.3%
  7. Hong Kong: -23%
  8. France: -11.9%
  9. Italy: -7.8%
  10. India: -3.2%

Top 10 Most UHNW Countries by Wealth:

  1. United States – $15 trillion
  2. China – $5.3 trillion
  3. Germany – $2.3 trillion
  4. Hong Kong – $1.5 trillion
  5. United Kingdom – $1.4 trillion
  6. Japan – $1.4 trillion
  7. Canada – $1.4 trillion
  8. France – $1.2 trillion
  9. India – $1.1 trillion
  10. Italy – $987 billion

Top 10 Most UHNW Cities:

  1. Hong Kong – 12,615 
  2. New York – 11,845 
  3. London – 6,370 
  4. Los Angeles – 6,205 
  5. San Francisco – 4,385 
  6. Chicago – 4,235 
  7. Singapore – 4,160 
  8. Paris – 3,995 
  9. Tokyo – 3,710 
  10. Tokyo – 3,465 

UHNWs in New York City (5 Boroughs):

  1. Manhattan – 3,030
  2. Queens – 450
  3. Brooklyn – 430
  4. Bronx – 200
  5. Staten Island – 70

 

5) UHNW Demographics

UHNW Profiles:

  • Entrepreneurs (Eg. Elon Musk, Jack Ma)
  • Corporate Executives (Satya Nadella, Chairman & CEO of Microsoft)
  • Inheritances (Eg. Alice Walton, shareholder of Walmart)

UHNW Gender:

  • Entrepreneurs – 91.2% Male, 8.8% Female
  • Corporate Executives – 92.4% Male, 7.6% Female
  • Inheritances – 60.8% Male, 39.2% Female
  • Global UHNWs – 89.1% Male, 10.9% Female

UHNW Median Wealth (50th Percentile):

  • Entrepreneurs – $77.7 million
  • Corporate Executives – $40.9 million
  • Inheritances – $52.4 million
  • UHNW Median Wealth (50th Percentile) – $51 million

UHNW Average Age:

  • North America – Age 67.1
  • Europe – Age 63.8
  • Asia – Age 62.6
  • Global UHNW – Age 65.7

UHNW Source of Wealth: 

  1. Entrepreneurs / Self-made – 72.6% 
  2. Corporate Executives – 20.7%
  3. Fully-inherited – 6.7% 

UHNW Entrepreneurs by Industry: 

  1. Banking & finance – 25.3%
  2. Business & consumer services – 13.1%
  3. Real estate – 6.6%
  4. Non-profit & social organizations – 7.2%
  5. Technology – 6.7%
  6. Hospitality & entertainment – 6.1%
  7. Healthcare – 5.1%
  8. Food & beverages – 3.7%

UHNW Corporate Executives by Industry: 

  1. Banking & finance – 25.5%
  2. Business & consumer services – 11.5%
  3. Real estate – 7.5%
  4. Manufacturing – 5.6%
  5. Technology – 4.8%
  6. Industrial conglomerates – 3.7%
  7. Food & beverages – 4.5%
  8. Healthcare – 4.7%

UHNW Sole Inheritors by Industry:

  1. Non-profit & social organizations – 22.1%
  2. Banking & finance – 12%
  3. Business & consumer services – 10.4%
  4. Real estate – 7.4%
  5. Food & beverages – 5.6%
  6. Manufacturing – 6.7%
  7. Industrial conglomerates – 4.7%
  8. Hospitality & entertainment – 4.7%

 

6) UHNW Asset Allocation

Asset Allocation by UHNWs Entrepreneurs:

  • Public holdings – 28.7%
  • Private holdings – 31.7%
  • Real estate & luxury assets – 3.4%
  • Liquid assets (cash, income & dividends) – 36.2%

Asset Allocation by UHNW Corporate Executives:

  • Public holdings – 19.3%
  • Private holdings – 39%
  • Real estate & luxury assets – 2.6%
  • Liquid assets (cash, income & dividends) – 39.2%

Asset Allocation by UHNW Sole Inheritors:

  • Public holdings – 26.3%
  • Private holdings – 35.6%
  • Real estate & luxury assets – 4.7%
  • Liquid assets (cash, income & dividends) – 33.5%

 

7) UHNW Luxury Ownership, Interests

Plane / Jet:

  • Entrepreneurs – 25%
  • Corporate Executives – 62%
  • Sole Inheritors – 7%
  • Other UHNWs – 6%

Yacht:

  • Entrepreneurs – 40%
  • Corporate Executives – 45%
  • Sole Inheritors – 5%
  • Other UHNWs – 10%

Art Collection (> $5 million value):

  • Entrepreneurs – 42%
  • Corporate Executives – 38%
  • Sole Inheritors – 8%
  • Other UHNWs – 12%

Cars & Vehicles (>$200,000 value):

  • Entrepreneurs – 31%
  • Corporate Executives – 48%
  • Sole Inheritors – 6%
  • Other UHNWs – 15%

Top 8 UHNW Interests, Passions & Hobbies – Entrepreneurs:

  1. Philanthropy – 40.2%
  2. Sports – 36.8%
  3. Technology – 21.7%
  4. Public speaking – 19.8%
  5. The outdoors – 17.2%
  6. Education – 16.7%
  7. Travel – 15.5%
  8. Writing – 14.7%

Top 8 UHNW Interests, Passions & Hobbies – Corporate Executives:

  1. Philanthropy – 34.1%
  2. Sports – 32.3%
  3. The outdoors – 18.2%
  4. Public speaking – 18.2%
  5. Education – 15.6%
  6. Aviation – 15%
  7. Technology – 15%
  8. Travel – 12.8%

Top 8 UHNW Interests, Passions & Hobbies – Sole Inheritors:

  1. Philanthropy – 52.8%
  2. Sports – 29.2%
  3. The outdoors – 21.1%
  4. Art – 20.5%
  5. Education – 17%
  6. Travel – 14%
  7. Aviation – 13.6%
  8. Technology – 11.5%

 

8) Connections of United States Universities Deans & Vice-Deans to UHNWs:

  • Direct Connections – 51 UHNWs on average
  • 2nd-Degree Connections – 2017 UHNWs on average

 

 

Altrata World UHNW Report 2023

The latest edition of the World Ultra Wealth Report – the second to be published by Altrata and the 11th powered by Wealth-X data – provides unique and detailed analysis of the global ultra high net worth (UHNW) population. This exclusive group of wealthy individuals, each with a net worth in excess of $30m, has grown steadily in size and influence over the past decade to now hold immense collective wealth of more than $45trn. 

  • Ultra high net worth (UHNW) individuals (Ultra wealth) – More than $30 million + net worth
  • Very high net worth (VHNW) individuals – $5 million to $30 million net worth



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