The global population of ultra-high-net worth individuals — or people worth $30 million or more — increased 8% last year, according to Altrata.New York has the world's largest population of UHNW individuals, followed by Hong Kong, Los Angeles and Tokyo.Spencer Platt | Getty Images
There are now 426,330 individuals worth $30 million or more, known as ultra-high-net worth individuals, according to Altrata's World Ultra Wealth Report 2024. Their total wealth surged by 7% to $49 trillion in 2023, helped mainly by the year-end stock rally. "The market for personal luxury goods and lifestyle services has expanded rapidly, driven by the more varied interests and demands of a progressively diverse global UHNW population," the report said. "There has been a similar trend across high-end real estate around the world, alongside an increasing focus on family wealth transfer planning and legacy transition amid a surge in first-generation wealth.
New York has the world's largest population of people worth $30 million or more, with 16,630. Hong Kong ranked second, with 12,546, followed by Los Angeles with 8,955 and Tokyo with 6,445.