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 “
Altrata World UHNW Report 2023
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:
- UHNW Population (> $30 million) – 395,070
- North America UHNW Population – 142,990 (36.2%)
- Europe UHNW Population – 100,850 (25.5%)
- Asia UHNW Population – 108,370 (27.4%)
- 2027 UHNW Population Forecast – 528,100
- UHNW Median Wealth (50th Percentile) – $51 million
- UHNW Wealth – $45.4 trillion
- 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
- 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%
- UHNW Art Collection (> $5 million value) – Entrepreneurs 42%, Corporate Executives 38%, Sole Inheritors 8%, Other UHNWs 12%
- UHNW Cars & Vehicles (>$200,000 value) – Entrepreneurs 31%, Corporate Executives 48%, Sole Inheritors 6%, Other UHNWs 15%
- 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
HNW Population & Wealth:
- Total HNWs – 34.7 million
- 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 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:
- Global – $45.4 trillion
- North America – $16.4 trillion
- Latin American & Caribbean – $1.4 trillion
- Europe – $11.7 trillion
- Middle East – $2.7 trillion
- Africa – $360 billion
- Asia – $12.1 trillion
- Pacific – $599 billion
2022 UHNW Wealth Distribution (%):
- North America – 36.3%
- Latin American & Caribbean – 3.2%
- Europe – 25.8%
- Middle East – 5.9%
- Africa – 0.8%
- Asia – 26.7%
- 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:
- United States – 129,665 UHNWs
- China – 47,190
- Germany – 19,590
- Japan – 14,940
- United Kingdom – 14,005
- Canada – 13,320
- Hong Kong – 12,615
- France – 11,980
- Italy – 8,930
- India – 8,880
Top 10 UHNW Countries (Population Change):
- United States: -4.3%
- China: -7.1%
- Germany: -9.3%
- Japan: -21.9%
- United Kingdom: -9.2%
- Canada: -1.3%
- Hong Kong: -23%
- France: -11.9%
- Italy: -7.8%
- India: -3.2%
Top 10 Most UHNW Countries by Wealth:
- United States – $15 trillion
- China – $5.3 trillion
- Germany – $2.3 trillion
- Hong Kong – $1.5 trillion
- United Kingdom – $1.4 trillion
- Japan – $1.4 trillion
- Canada – $1.4 trillion
- France – $1.2 trillion
- India – $1.1 trillion
- Italy – $987 billion
Top 10 Most UHNW Cities:
- Hong Kong – 12,615
- New York – 11,845
- London – 6,370
- Los Angeles – 6,205
- San Francisco – 4,385
- Chicago – 4,235
- Singapore – 4,160
- Paris – 3,995
- Tokyo – 3,710
- Tokyo – 3,465
UHNWs in New York City (5 Boroughs):
- Manhattan – 3,030
- Queens – 450
- Brooklyn – 430
- Bronx – 200
- 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:
- Entrepreneurs / Self-made – 72.6%
- Corporate Executives – 20.7%
- Fully-inherited – 6.7%
UHNW Entrepreneurs by Industry:
- Banking & finance – 25.3%
- Business & consumer services – 13.1%
- Real estate – 6.6%
- Non-profit & social organizations – 7.2%
- Technology – 6.7%
- Hospitality & entertainment – 6.1%
- Healthcare – 5.1%
- Food & beverages – 3.7%
UHNW Corporate Executives by Industry:
- Banking & finance – 25.5%
- Business & consumer services – 11.5%
- Real estate – 7.5%
- Manufacturing – 5.6%
- Technology – 4.8%
- Industrial conglomerates – 3.7%
- Food & beverages – 4.5%
- Healthcare – 4.7%
UHNW Sole Inheritors by Industry:
- Non-profit & social organizations – 22.1%
- Banking & finance – 12%
- Business & consumer services – 10.4%
- Real estate – 7.4%
- Food & beverages – 5.6%
- Manufacturing – 6.7%
- Industrial conglomerates – 4.7%
- 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:
- Philanthropy – 40.2%
- Sports – 36.8%
- Technology – 21.7%
- Public speaking – 19.8%
- The outdoors – 17.2%
- Education – 16.7%
- Travel – 15.5%
- Writing – 14.7%
Top 8 UHNW Interests, Passions & Hobbies – Corporate Executives:
- Philanthropy – 34.1%
- Sports – 32.3%
- The outdoors – 18.2%
- Public speaking – 18.2%
- Education – 15.6%
- Aviation – 15%
- Technology – 15%
- Travel – 12.8%
Top 8 UHNW Interests, Passions & Hobbies – Sole Inheritors:
- Philanthropy – 52.8%
- Sports – 29.2%
- The outdoors – 21.1%
- Art – 20.5%
- Education – 17%
- Travel – 14%
- Aviation – 13.6%
- 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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