In this article, we will analyze the population of the ultra-high net worth individual (UHNWI) across the world. UHNWIs are individuals with a net worth of over $30 million. First, we will rank 59 countries as per the number of UHNWIs. Then, we will rank 52 cities as per the number of UHNWIs. We will also present the data for the UHNWIs as a percentage of total population in those countries and cities. We have used the UHNWI population data from ‘The Wealth Report 2019’ by Knight Frank (more details are provided at the bottom of the article).

This article is part of a series of articles analyzing the population of the wealthy people across the globe. In our first article, we had presented an analysis of the global millionaire population. In our second article, we had presented an analysis of the global billionaire population. This is our third article in the series.

Country- and City-wise Data Availability

The Knight Frank wealth report provides the country-wise UHNWI population data for the following 59 countries:

North America : United States, Canada

: United States, Canada Asia : Japan, China, Singapore, Hong Kong, India, South Korea, Taiwan, Indonesia, Malaysia, Thailand, Pakistan, Philippines, Vietnam

: Japan, China, Singapore, Hong Kong, India, South Korea, Taiwan, Indonesia, Malaysia, Thailand, Pakistan, Philippines, Vietnam Europe : Germany, United Kingdom, Switzerland, France, Spain, Italy, Sweden, Netherlands, Norway, Austria, Belgium, Denmark, Ireland, Portugal, Greece, Luxembourg, Poland, Czech Republic, Monaco, Romania, Hungary, Cyprus

: Germany, United Kingdom, Switzerland, France, Spain, Italy, Sweden, Netherlands, Norway, Austria, Belgium, Denmark, Ireland, Portugal, Greece, Luxembourg, Poland, Czech Republic, Monaco, Romania, Hungary, Cyprus Latin America : Brazil, Mexico, Chile, Colombia, Argentina, Peru

: Brazil, Mexico, Chile, Colombia, Argentina, Peru Middle East : Israel, Turkey, Saudi Arabia, UAE

: Israel, Turkey, Saudi Arabia, UAE Australasia : Australia, New Zealand

: Australia, New Zealand Russia and CIS : Russia, Ukraine

: Russia, Ukraine Africa: South Africa, Egypt, Nigeria, Kenya, Tanzania, Botswana, Uganda, Zambia

The Knight Frank wealth report provides the city-wise UHNWI population data for the following 52 cities:

Argentina: Buenos Aires

Australia: Melbourne, Perth, Sydney

Austria: Vienna

Bahrain: Manama

Brazil: São Paulo

Canada: Montreal, Toronto, Vancouver

China: Beijing, Guangzhou, Shanghai, Shenzhen

Egypt: Cairo

France: Paris

Germany: Berlin, Hamburg, Munich

Greece: Athens

India: Delhi, Mumbai

Indonesia: Jakarta

Ireland: Dublin

Israel: Tel Aviv

Italy: Milan, Rome

Japan: Tokyo

Kenya: Nairobi

Malaysia: Kuala Lumpur

Mexico: Mexico City

New Zealand: Auckland

Philippines: Manila

Russia: Moscow

Saudi Arabia: Riyadh

Singapore: Singapore

South Africa: Cape Town, Johannesburg

South Korea: Seoul

Spain: Madrid

Sweden: Stockholm

Switzerland: Geneva, Zurich

Taiwan: Taipei

Turkey: Istanbul

UAE: Abu Dhabi, Dubai

United Kingdom: Edinburgh, London

United States: Los Angeles, Miami, New York

We have analyzed and presented the data for these countries and cities only in this article.

Number of UHNWI in the World

There were 198,342 UHNWIs in the world during 2018. The world total population was 7.5 billion in 2018. So, 0.003% of the world total population are UHNWIs. The number of UHNWIs are expected to grow to 241,053 by 2023.

Europe is the home to more UHNWIs than North America. Here are the details of number of UHNWIs in 2018 across different regions: Europe – 70,627; North America – 51,912; Asia – 48,245; Latin America – 10,457; Middle East – 8,301; Australasia – 4,400; Russia & CIS – 2,350; and Africa – 2,050.

The share of these regions, of the world total UHNWIs, has remained nearly the same over the last five years. It is expected to remain nearly same over the next five years as well.

The charts for the global UHNWI population by regions during 2013, 2018, and 2023 are as follows:

Number of UHNWI by the Country

The United States had 47,127 UHNWIs during 2018. This represents 23.8% of the total of 198,342 UHNWIs globally. Japan ranks second with 18,534 UHNWIs (9.3% of the world total). Germany ranks third with 14,047 UHNWIs. The United Kingdom and China rank fourth and fifth. Together, the top-5 countries account for over half of the global UHNWI population.

The chart below provides the UHNWI population for 59 countries, along with their share of the world UHNWIs total population.

UHNWI Share of their Country’s Total Population

If we look at the number of UHNWIs as a percentage of the total population, Monaco ranks first. 0.6% of the Monaco total population are UHNWIs. Luxembourg ranks second. 0.1% of the Luxembourg total population are UHNWIs. Singpore ranks third. 0.06% of the Singapore total population are UHNWIs. The United States ranks 18th. 0.01% of the US total population are UHNWIs.

The chart below provides the data for UHNWIs share of their country’s total population.

Number of UHNWI for Every 1,000,000 People in the Country

Another way to look at the UHNWIs share of their country’s total population is to look at the number of UHNWIs for every 1,000,000 people in the country.

Monaco has 5,733 UHNWIs for every 1,000,000 people. This means 6 of the 1000 people in Monaco are UHNWIs. Luxembourg has 1,139 UHNWIs for every 1,000,000 people. Singapore has 636 UHNWIs for every 1,000,000 people.

The chart below provides the data for the number of UHNWIs for every 1,000,000 people in their country. Please note that several countries have a total population lesser than 1 million. For example, Monaco total population is just 38 thousand and they have a total of 223 UHNWIs. This analysis scales up their UHNWIs count for easy comparison with other countries.

Number of UHNWI by the City

If we look at the UHNWI population by cities across the world, London ranks number one with 4,944 UHNWIs. The share of London in the global UHNWI population is about 2.5%. Tokyo and Singapore rank second and third with 3,732 and 3,598 UHNWIs respectively. New York and Beijing rank fourth and fifth.

The chart below provides the UHNWI population for 52 cities, along with their share of the world UHNWIs total population.

UHNWI Share of their City’s Total Population

If we look at the number of UHNWIs as a percentage of the total city population, Zurich ranks first. 0.4% of the Zurich total population are UHNWIs. Geneva ranks second. 0.3% of the Geneva total population are UHNWIs. Both Zurich and Geneva are in Switzerland. Tel Aviv ranks third. 0.1% of the Tel Aviv total population are UHNWIs.

The chart below provides the data for UHNWIs share of their country’s total population.

Number of UHNWI for Every 1,000,000 People in the City

Another way to look at the UHNWIs share of their city’s total population is to look at the number of UHNWIs for every 1,000,000 people in the city.

Zurich has 3,739 UHNWIs for every 1,000,000 people. This means 4 of the 1000 people in Zurich are UHNWIs. Geneva has 2,715 UHNWIs for every 1,000,000 people. Tel Aviv has 1,360 UHNWIs for every 1,000,000 people.

The chart below provides the data for the number of UHNWIs for every 1,000,000 people in their city. Please note that several cities have a total population lesser than 1 million. For example, Zurich total population is little more than 400 thousand and they have a total of 1,507 UHNWIs. This analysis scales up their UHNWIs count for easy comparison with other cities.

Five-year Growth Forecast for the Number of UHNWIs in Cities

If we look at the growth in the number of UHNWIs over the next five years from 2018 to 2023, Mumbai in India ranks first. The number of UHNWIs in Mumbai are expected to grow by 38%. Delhi in India and Manila in Philippines rank second and third with growth rates of 38% and 37% respectively. Athens in Greece, São Paulo in Brazil, and Instanbul in Turkey rank at the bottom in the 52 cities with growth rates of 7%, 5%, and 2% respectively.

The chart below provides the five-year growth forecast for the number of UHNWI.

Notes

The data source for the UHNWI population data in this article is the ‘The Wealth Report 2019 (13th Edition)’ by Knight Frank. The report further mentions GlobalData WealthInsight as the data source. The number of countries and cities in our article is limited by the data freely available in the Knight Frank report.

The Knight Frank report further provides the data for the millionaire population and the billionaire population for 41 countries. We have already provided a detailed analysis of the global millionaire population and the global billionaire population in our previous articles.