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Where the World’s Ultra Rich Population Lives

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Where the World's Ultra Rich Population Lives

Where the World’s Ultra Rich Population Lives

We’ve recently broken down data on the global population of millionaires by city, and even the residences of the world’s top 50 billionaires.

But still, there’s something extremely interesting about dissecting the lifestyles of the ultra rich – particularly in looking at where they live, and also how they tend to migrate when local conditions are not conducive to wealth-building or the safety of their fortunes and families.

Ultra Rich: By Region

Today’s infographic comes to us from HowMuch.net, and it breaks down the population of ultra high net worth individuals that have personal wealth levels exceeding the $500 million mark. It uses information from the 2018 edition of the Knight Frank Wealth Report.

First, we’ll look at these totals on a regional level:

RegionPopulation (>$500M wealth)% of Global Pop
North America2,10031.8%
Asia1,86028.1%
Europe1,68025.4%
Middle East2804.2%
Latin America & Caribbean2804.2%
Russia & CIS2203.3%
Africa1201.8%
Australasia701.1%
6,610100.0%

As you can see, the vast amount of half-billionaires are located in North America (31.8%), Asia (28.1%), and Europe (25.4%). That means that fewer than 15% of these ultra rich live in the Middle East, Australasia, Russia & CIS, Latin America, and Africa combined.

Ultra Rich: By Country

Now, we’ll look at the 14 countries that have greater than 100 ultra rich people (>$500 million) as residents:

RankCountryRegionPopulation (>$500M wealth)
#1United StatesNorth America1,830
#2China (Mainland)Asia490
#3GermanyEurope430
#4JapanAsia390
#5Hong KongAsia320
#6CanadaNorth America270
#7SwitzerlandEurope250
#8FranceEurope230
#9Russia & CISRussia & CIS220
#10United KingdomEurope220
#11IndiaAsia200
#12ItalyEurope160
#13BrazilLatin America130
#14Saudi ArabiaMiddle East120

Note: this list excludes second-home owners.

Sitting at the top of the list is the United States with 1,830 people that hold fortunes larger than $500 million. That’s equal to roughly 28% of the global half-billionaire population.

Following the U.S. is China, which counts 810 people as having a wealth over $500 million. These numbers are broken down into Mainland China and Hong Kong on the graph and table, because they were tallied using different sources.

Canada tallies surprisingly high here – the country only ranks #10 globally based on its number of (billionaires), but ranks #6 in terms of half-billionaires with 270 in total.

Lastly, it should be noted that just missing the cut-off on the above list were Taiwan, South Korea, and Singapore, three Asian countries that tied with 100 half-billionaires each.

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Who Expects to Get Richer in 2024, by Both Generation and Gender

A survey of 600 high net worth individuals revealed there’s one subset of people who are confident of making it in 2024.

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A cropped graph showing the percentage of people surveyed in the Knight Frank Next Gen Survey, sorted by generation and gender, and whether they anticipate a wealth increase in 2024.

Who Expects to Get Richer in 2024, by Generation and Gender

This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.

The jury is still out on how the global economy is expected to perform in 2024, but as seen during the pandemic, economic turmoil sometimes provides opportunities for the wealthy.

We visualize the percentage of high net worth individual (HNWI) respondents who expect their wealth to increase in 2024, categorized by generation and gender, from the Knight Frank Next Gen Survey, accessible in their latest wealth report.

The survey covered 600 global HNWIs, who are individuals with more than $1 million in assets or make more than $200,000 a year, and then categorized their responses by gender and generation.

Affluent Gen Z Women Eye Financial Gains in 2024

At a glance, there’s a very apparent generational difference in the expectations of getting richer in 2024.

About half (52%) of the surveyed Baby Boomers think their assets will grow, compared to Gen X (56%), Millennials, (69%), and Gen Z (75%).

GroupMaleFemaleOverall
👴 Boomer53%50%52%
👩‍🦳 Gen X56%56%56%
👩‍🦱 Millennial75%64%69%
🧑‍🦰 Gen Z69%81%75%
👨‍👩‍👧‍👦 All Generations68%63%65%

Note: Percentage of respondents who said they expect their wealth will increase in 2024.

There’s also a noticeable gender difference. Men tend to be more optimistic than women, with one glaring exception.

A staggering 81% of the surveyed high net worth Gen Z women expect to make hay this year, making them the most optimistic of all the groups.

This corroborates a trend where Gen Z women were also the most optimistic in retirement planning. As CNBC reports, a combination of newer avenues of financial resources, and an openness towards advice, has given them a more optimistic attitude than their older counterparts.

Meanwhile, American Millennials are expected to become the richest generation ever as a $90 trillion asset transfer between Boomer parents and Millennial children begins to take place over the next two decades.

A huge percentage of that wealth comes in the form of property assets accumulated by generations before them. This especially includes houses, whose prices have skyrocketed over the last two decades.

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