2026年全球超高净值财富报告 World Ultra Wealth Report 2026

WorldUltraWealthReport2026

Thoughtleadership

WorldUltraWealthReport2026

LTRT

TomWoodward

ChiefFinancialOfficer

GlennBrien

ChiefRevenueOfficer

OliviaLogan

VicePresident,Marketing

andCorporateDevelopment

MayaImberg

SeniorDirector,HeadofThoughtLeadershipandAnalytics

MaeenShaban

DirectorofResearchandAnalytics

BrinSullivan

ContentMarketingManager

Design

GaetanoMedulla

JuniorGraphicDesigner

©Altrata.June2026.

Thispublicationisforyourinformationonlyandisnotintendedasanoffer,orasolicitationofanoffer,tobuyorsellanyproductorotherspecificservice.Allinformationandopinionsindicatedaresubjecttochangewithoutnotice.

Contents

01

Keyfindings1

02

Introduction2

03

Asegmentoftheutmostinfluence3

04

Theultrawealthyin20257

05

Regional,countryandcityperformance9

06

Theviewaheadto203017

07

Regionaldifferences21

08

Methodology27

09

AboutAltrata28

Altrata|WorldUltraWealthReport2026

Altrata|WorldUltraWealthReport2026|1

01

Keyfindings

>

>

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Theworld’srichestindividualscontinuedtoexperiencedynamicwealthgainsin2025.

ThegIobaIUHNWpopuIationexpandedby14.4%toanewaII-timehighof556J850individuaIsin2025.ThismarkedasecondconsecutivedoubIe-digitexpansionandthestrongestannuaIgrowthsince2017.

TotaIweaIthoftheUHNWcIasssurged

to$63.8tnin2025JmorethandoubIetheannuaIGDPoftheUSeconomy.

Thesizeandwealthoftheultrawealthy

classhaveswelledrapidlyoverthepast

twodecades.Since2004JtheUHNW

popuIationhasgrownbyacumuIative

255%Joutpacingtheexpansionofthe

gIobaIaduItpopuIationbyafactorofseven.Therewerejustunder51miIIionmiIIionairesgIobaIIyin2025;theuItraweaIthyrepresentasmaII1.1%ofthismiIIionairepopuIationJ

yettheircumuIativeshareofweaIthisa

farIarger32%.Akeygrowthsegmenthas

beenthatofthercenti-miIIionaires’Jthose

withanetworthinexcessof$100mJdrivenprimariIybythetechnoIogyboom.There

weremorethan117J000centi-miIIionairesin2025JaImostdoubIethenumberof60J000in2015.

By2030,weforecastaglobalUHNW

populationof746,570individuals,a

substantialincreaseof190,000fromits

2025level.Thegroup’scombinednetworthissettosweIIbyathirdJrisingto$85tn.AsiaisforecasttoregisterthestrongestgrowthinUHNWnumbersofthethreemajorregionsJbutNorthAmericawiIIremainthedominantweaIthcenter.DeIhiwiIIbethefastest-

growingcitybyUHNWpopuIationto2030JfoIIowedbyStockhoImandWuhan(China)JwithestabIishedandemergingweaIthhubsacrosstheNordicsJAustraIiaandSoutheastAsiaaIsofeaturingprominentIy.

>

>

>

ThethreedominantUHNWcentersofNorth

America,AsiaandEuropeallrecordedrobust

growthinultrawealthynumbers.North

AmericaJtheworId’sIeadinguItraweaIthregionJexpandedby15%in2025to224J470individuaIsJwithdoubIe-digitgrowthinboththeUSand

Canada.AsiaconsoIidateditsstatusasthe

worId’ssecond-IargestuItraweaIthregion:theUHNWpopuIationgrewby15.8%to141J890

individuaIsJIiftingtheregion’sshareofthegIobaIuItraweaIthycIassto25%.

TheUSisbyfarthelargestwealthmarketin

theworld,hometo37%ofthetotalUHNW

population,morethanthecombinedshare

ofalltheothercountriesinthetop10.US

uItraweaIthynumbersroseby15%in2025to

206J880Joutpacinggrowthinsecond-ranked

China.AIItheIeadingUHNWmarketsincreasedtheirrespectiveweaIthypopuIationsJwithHongKongandJapanstandoutperformers.NewYorkremainsthepremierUHNWcityJhometoaImost24J000UHNWindividuaIs;whiIeSeouIsurged

uptherankingstomakeitintothetop12citiesJwiththenumberofUHNWindividuaIsrisingbymorethanathirdto6J220.

Regionaldistinctionsmatterwhenengaging

withthishugelyinfluentialcohort.AsiaexhibitsasomewhatyoungerUHNWdemographicJ

andNorthAmericatheoIdest.FemaIeUHNW

representationisrisinggraduaIIy(settoreach19%by2040)andishighestinAsiaJaIbeitata

stiIIIow13%.TherseIf-made’weaIthyaremost

prevaIentinNorthAmericaJwherephiIanthropyranksaImostashighIyassportasafavored

interest.FinanciaIservicesisthepredominantindustryfocusinaIIthreemajorregionsJ

foIIowedbybusinessandconsumerservices.

RepresentationofEurope’sUHNWpopuIationinthefifth-rankedtechnoIogysectorisIowerthanthatofbothregionaIpeersJwhiIeitis

higherinhospitaIityandentertainment.

Altrata|WorldUltraWealthReport2026|2

02

Introduction

Altrata’sWorldUltraWealthReport一the14thedition一providescomprehensiveinsightsintothegIobaIuItrahighnetworth(UHNW)popuIationandtheconstantIyevoIvingIandscapeofweaIth

creation.ThisexcIusivegroupofweaIthyindividuaIsJeachwithanetworthinexcessof$30mJhasgrownrapidIyinsizeandinfIuenceoverthepastdecadeJaccumuIatingimmensecoIIectiveweaIth.

AItrata’scomprehensivedatabaseontheweaIthyanditsdetaiIedWeaIthandInvestabIeAssetsModeIprovideunrivaIedinsightintotheworId’sUHNWpopuIationJitscharacteristicsandthe

constantIychangingIandscapeofweaIthcreationJmakingitanessentiaIresourceforany

organizationIookingtoprospectforandengagewithindividuaIsinthisexcIusivedemographic.

Keydefinitions

Ultrahighnetworth(UHNW)individuals

Thosewithanetworthof$30m+(aIsoreferredtoastheruItraweaIthy’).

Veryhighnetworth(VHNW)individuals

Thosewithanetworthof$5mto$30m.

Altrata|WorldUltraWealthReport2026|3

03

Asegmentoftheutmostinfluence

TheUHNWpopulationholdsadisproportionateshareofglobalnetworth

In2025,therewere50.9millionhighnetworth(HNW)individualsaroundtheworld,eachwithwealthinexcessof$1m(millionaires).Withinthisrelativelyaffluentgroup,theultrahighnetworth(UHNW)populationnumbered556,850individuals,eachholdingsubstantialfortunesinexcessof$30m.

Theultrawealthyrepresentasmall1.1%oftheglobalmillionaireclass,buttheircumulativeshareof

wealthissignificantlylarger.At$63.8tn,thetotalnetworthoftheUHNWsegmentcomprised32%ofthewealthheldbyallHNWindividualsin2025,underliningtheprivilegedstatusandinfluenceofthesuperrich.

Thewealthybytier

Globalpopulationandwealthbymajorwealthtierin2025

556,850

Wealthtier

$63.8tn

5.3million

UHNW($30m+)

VHNW($5m-$30m)

$1m-$5m

$52.1tn

45.1million$84.2tn

PopulationWealth

Source:Altrata,2026

Asegmentoftheutmostinfluence

Theultrawealthyareafast-growingdemographic

OurextensiveweaIthmodeI(coveringtheperiodsince2004)showsthesizeoftheuItraweaIthy

cIasshassweIIedrapidIyoverthepasttwodecadesJbyacumuIative255%Joutpacingthe

expansionofthegIobaIaduItpopuIationbyafactorofseven.KeydrivershavebeenrisingcapitaImarketsJtechnoIogicaIinnovationJandthegIobaIizationofprivatecapitaI.ReIativechangesin

cumuIativenetworthareestimatedtohavebeenofanevenhighermagnitude.InrecentyearsJ

oneofthefast-growingsegmentshasbeenthatofthercenti-miIIionaires’Jthosewithanetworthinexcessof$100mJdrivenprimariIybythetechnoIogyboom.Thereweremorethan117J000centi-miIIionairesin2025JaImostdoubIethenumberof60J000in2015.

255%

Thegrowthinnumberofultrawealthyindividualsgloballysince2004

Source:Altrata,2026

7x

Thepaceatwhichtheultrawealthy

populationhasgrownfasterthantheglobaladultpopulationoverthepasttwodecades

Source:Altrata,2026;WorldBank(forglobalpopulation)

Altrata|WorldUltraWealthReport2026|4

Asegmentoftheutmostinfluence

ThenumberofUSultrawealthyindividualshasmorethandoubledinrealtermssince2005

→In2025therewere77ultrawealthyindividualsforevery100,000USadults,up

from44in2005,whenanetworthof$19.2mcarriedthesamepurchasingpoweras$30mdoestoday.

Forthissection,weconductedneweconomicresearchexaminingUSwealthintermsof

realpurchasingpower.Thiscontrastswiththerestofthereport—andmostoftheexisting

literature—whichmeasureswealthonanominalbasis.Bothapproacheshavemerit.A

nominalmeasurereflectswealthinthepricesoftheday,withnoadjustmentforinflation;arealmeasurestripsoutinflation,expressingwealthinconstantpurchasingpower.

Duetoinflation,$30mtodaydoesnotgoasfaras$30mdid20yearsago.Asaresult,someofthegrowthintheUSUHNWpopulationoverthepasttwodecadesreflectsrisingpricesratherthangenuinelynewwealth.CombininganinflationadjustmentwithourWealthandInvestableAssetsModelletsusmeasuretheUSultrawealthypopulationovertimeinrealterms.Two

findingsstandout.

First,aUSindividualneeded$19.2min2005tomatchthepurchasingpowerof$30mtoday.

Inrealterms,theequivalentthresholdwas$19.2min2005and$22.5min2015.Second,evenafteradjustingforinflation,thedatashowsstronggrowthintheUSUHNWpopulation—

growththathassignificantlyoutpacedtheriseinthecountry’sadultpopulation.Inrealterms,therewere77ultrawealthyindividualsper100,000USadultsin2025,upfrom44in2005.

RealgrowthoftheUSultrawealthypopulationovertime

USUHNWpopulationandnumberper100,000USadultswiththeequivalentof$30m+innetworthovertime(chained2025$)

250,000

NumberofUHNWindividuals

200,000

150,000

100,000

50,000

0

Per100,000adults

160

120

80

40

0

97,320

97,020

41

●

50

●

62

●

206,880

161,040

123,110

77

44

●

Adjustednet

worth,equivalentto$30min2025

2005

$19.2m

2010

$20.9m

2015

$22.5m

2020

$24.7m

2025

$30.0m

Note:BoththePersonalConsumptionExpendituresExcludingFoodandEnergyIndexandtheGDPImplicitPriceDeflatorwereusedtocalculatethechainedvalueof$30min2025dollarstotakeintoaccountboththeliquidandilliquidassetsofthewealthy.

Source:Altrata,2026;TheFederalReserve;USCensusBureau

Altrata|WorldUltraWealthReport2026|5

Asegmentoftheutmostinfluence

Altrata|WorldUltraWealthReport2026|6

DynamicUHNWgrowthhastransformedthemarketforpremiumconsumptionandlifestyleservicesthatcaterspecificallytothe

superaffluent

ExpenditurebytheuItraweaIthyonIuxurygoodsandservicestotaIed$282bnin2025(estimate)J

accountingforafifthofaIIconsumer-facingspendingintheIuxurysector.Theperiodsincethe

pandemichasseenasofterexpendituretrendamongthegIobaIIuxuryconsumerbaseJwhichhas

drivenamoreconcertedfocusbypremiumbrandsontheprizedUHNWcIass.PersonaIIuxurygoods(fashionJjeweIryJbeauty)andvehicIesaretheIargestcategoriesbyspendJwithprivateaviation

andsuperyachtsaImostexcIusiveIythedomainoftheuItraweaIthy.AsidefromtheIuxuryeIementJ

fIexibiIityandprivacyarekeydrivers-astheyareinthehigh-endreaIestateandtraveIsectors-giventhegIobaImobiIityofUHNWcapitaIandanincreasingfocusonrsafehaven’excIusivity.

TheUHNWcIassisthepredominant

cIienteIeforspeciaIizedfinanciaIservicesJprivatebankingandprimebrokerage.

TheuItraweaIthypopuIationhoIdsanestimated$26tnofinvestabIeassets

-equivaIenttosome10%ofthegIobaIinvestabIeassetstock.TheweaIth

managementindustryhasevoIvedconsiderabIyinscaIeandscopeto

meettheincreasingIysophisticated

requirementsoftheworId’ssuperrichJ

drivingthegrowthoffamiIyofficesJprivatebankingservicesJtaxadvisoryfirmsJand

aIternativeinvestmentmanagers.

PersonaIdonationsbytheuItraweaIthy

tophiIanthropicorganizationstotaIed

anestimated$220bnin2024JequivaIenttomorethanathirdofaIIprivategiving

byindividuaIs.HigheroveraIIweaIthand

shiftingattitudestocivicengagement

amongaIargerandmorediversified

weaIthycIasshavedrivenanupwardtrendingivingagainstthebackdropofreducedinstitutionaIfunding.AtthesametimeJ

therisingconcentrationofgIobaIweaIthamongtheveryrichestindividuaIsJa

growingfocusonrimpactinvesting’JandtheimpactofnewtechnoIogiespointtoanincreasingIycompetitiveenvironmentfordonorfunding.

Globally,theultrawealthyaccountfor:

$282bn

ofluxurygoodsspend,

equivalentto21%oftotalindividualspend1

$220bn

ofphilanthropicdonations,equivalentto37%ofall

givingbyindividuals2

$26tn

ofinvestableassets,

equivalentto10%ofglobalinvestableassets3

Source:Altrata.EstimatesuseAltratadataandBain/Altagammaforoverallluxurygoodsspend.

1Refersto2025(estimate)data.Source:AItrata.BasedonestimatesusingAItratadataandBain/AItagamma.

2Refersto2024data.Source:AItrata.

3Refersto2025data.Source:AItrata.

Altrata|WorldUltraWealthReport2026|7

04Theultrawealthy

in2025

Dynamic–anddiversified–wealthgainsinamoreuncertainworld

2025wasanotherprolificyearfortheultrawealthy.TheglobalUHNWpopulationincreasedby14.4%

toanall-timehighof556,850individuals.Thismarkedasecondconsecutivedouble-digitexpansion

andthestrongestannualgrowthsince2017.Forthefirsttimesincethepandemic,allmajorasset

classesdeliveredpositivereturns,ledbyglobalequities.Thisstrongheadlineperformancemasked

considerablemarketturbulence,amidmorefractiousgeopoliticsandanerraticrealignmentbytheUSofestablishedtraderelationsandpolicynorms.Ultimately,however,theassetportfoliosoftheglobalwealthywerebolsteredbytheeffectsoflowerinflation,asteadyflowoffiscalandmonetarysupport,resilientcorporateearnings,andcontinuedenthusiasmforAIinvestment.Thetotalnetworthofthe

UHNWclassin2025soaredby14.3%to$63.8tn,morethandoubletheannualGDPoftheUSeconomy.

In2025,thesizeoftheglobalUHNWpopulation roseatitsfastestpaceforeightyears.

Globalequitiesgenerateddouble-digitreturnsforathirdsuccessiveyear,withperformance

broadeningbeyondthelarge-capUStechnologysectorintoindustrialsandinfrastructure,andacrossEurope,Asiaandselectedemergingmarkets.AmoderateinvestorrotationawayfromUSassets–

includingtheUSdollar–waspartlyaresponsetothemorevolatilepoliticalandpolicyenvironmentintheworld’slargesteconomy.ItalsoreflectedmovestodiversifywealthportfolioexposureamidtheAIinvestmentboom,andtheimpactofinterest-ratecutsbymostoftheworld’smajorcentralbanks,whichdeliveredimprovedreturnsinfixed-incomemarketsafterseveraldifficultyears.

Developmentsin2025underlinedtwoofthedefiningtrendsinmodernwealthaccumulation,namelytheconcentrationofassetgainsamongownersofscalabletechnologyandstrategicinfrastructure,andtheimportanceofgloballymobilecapitalinamoreunpredictableandcomplexworld.

Theglobaleconomyataglance

Selectglobalindicatorsfor2025

(year-on-yearchange)

3.4%

RealGDPgrowth

2.5%5.2%

AdvancedEmergingand

economiesdevelopingeconomies

Consumerpriceinflation

21%

US$terms

MSCIWorldequityindex

8%

US$terms

Globalfixed-incomebondreturns

C

-19%

Oilprice

(US$/barrel)

4%39%

TransactionsCapitalraised

IPOactivity

2%

Globalhousepriceindex(nominal)

Sources:InternationalMonetaryFund,WorldEconomicOutlook,April2026;MorganStanleyCapitalInternational(MSCI);EYGlobalIPOTrends;Dealogic;DatedBrentBlendcrudeoil;BISresidentialpropertypricestatistics.

Altrata|WorldUltraWealthReport2026|8

Theultrawealthyin2025

Theultrawealthyacrosstheglobe

Globalpopulationin2025

556,850

TotalUHNWpopulation

%

oftheworld’s

UHNWpopulation

14.4%

Changeinpopulationfrom2024

NorthAmerica

224,47040.3%

15.0%

LatinAmericaandtheCaribbean

16,400

12.5%2.9%

Europe

141,89015.8%

140,14025.2%

14.5%

MiddleEast

22,880

4.1%

4.4%

Africa

只3,440o

23.7%0.6%

Asia

25.5%

Pacific

7,630

4.7%1.4%

GlobalUHNWwealthin2025

NorthAmerica

LatinAmericaand

theCaribbean

$$2.0tn

12.6%3.2%

$63.8tn

%

$

oftheworld’sUHNWwealth

TotalUHNWwealth

14.3%

Changeinwealthfrom2024

Europe

MiddleEast

$$3.0tn

1.9%4.7%

Africa

$$0.4tn

22.4%0.7%

Asia

$$15.6tn

15.3%

$$0.7tn

4.5%

25.5%

40.4%

$$16.3tn

15.2%

24.5%

$$25.7tn

15.2%

Pacific

1.1%

Note:Dataonthetotalorpercentageoftheworld’sUHNWpopulationandwealthmaynotaddupexactlyortotal100%owingtorounding.

Source:Altrata,2026

Altrata|WorldUltraWealthReport2026|9

05Regional,countryand

cityperformance

NorthAmerica

Robustgainsreflectsolidwealth-creationfundamentalsamidUSpolicyupheaval

TheUHNWpopulationoftheworld’sleadingultrawealthregionexpandedby15%in2025to224,470individuals,withdouble-digitgrowthinboththeUSandCanada.Assetholdingsweresupported

byfirmequitygains,gradualmonetaryeasing,expansiveAIinvestments,andbroadlyresilient

economicactivity.Havingsurgedby20%in2024,thecollectivenetworthofNorthAmerica’sUHNWpopulationroseby15.2%in2025to$25.7tn(a40%globalshare).

AnunpredictableandhighlytransactionalUSpolicyagendadeliveredperiodicvolatility,with

exposuretotheadministration’sglobaltariffchangesandaweakerUSdollarshapingbusinessandsectorperformance.InCanada,deterioratingrelationswithitsmaintradingpartnerdampened

growthandtriggeredapartialreorientationoflong-heldeconomicandsecurityties.Ultimately,

mostUStariffpoliciesandtradethreatswerewatereddown,whichcontributedtoanimproved

performanceinregional(andglobal)wealthmarketsoverthesecondhalfoftheyear.Investors

retainedadegreeofcaution,however,withmoreemphasisonUSexposurehedgingandglobal

diversification,drivenalsobyconcernsoverrisingAI-relatedmarketconcentrationrisk.ThiswasreflectedinUSequities,whichdeliveredhealthyreturnsin2025butwereoutshonebymajorstockmarketsacrossEuropeandAsia.

Asia

UHNWportfoliosbuoyedbyvibrantequityreturns,supportivepolicy,andpositiveAIspillovereffects

Asiaconsolidateditsstatusastheworld’ssecond-largestultrawealthregionin2025.TheUHNW

populationgrewby15.8%to141,890individuals,outpacing(slightly)theotherregionalpowerhousesofNorthAmericaandEurope,andliftingAsia’sshareoftheglobalultrawealthyclasstoabove25%.

TradedislocationfromUStariffpolicy–withChinaanotabletarget–weighedonsentimenttoan

extent,butthiswascounteredbyexportrotationtoothermarketsandAsia’sdeepeningintegrationinglobalsupplychains,includinginhigh-valueindustryandtechnology.

PositivespillovereffectsfromthewiderAIinvestmentboom,supportivefiscalandgovernancereforms,andglobalinvestordiversificationunderpinnedstrongreturnsinmanyoftheregion’sequitymarkets.SouthKorea’stech-heavyKOSPIindexwasthetopglobalperformer,withgainsinTaiwan,Japan,Indonesia,andHongKong(buoyedbyasurgeinsecondarylistingsofChinesecompanies)alsosurpassingmostdeveloped-economystockmarkets.Meanwhile,returnsin

IndiaandSingaporeweremoremuted.AweakerUSdollarandeasingmonetaryconditionsalsobolsteredregionalwealth,contributingtoadouble-digitriseinthecollectivenetworthofAsia’sUHNWclassto$15.6tn.

Altrata|WorldUltraWealthReport2026|10

Regional,countryandcityperformance

Europe

StronggrowthoftheUHNWclassaspolicystimulusanddynamicequitygainsoffseteconomicandtradeconstraints

UltrawealthportfoliosinEuropeincreasedstronglyin2025,despitelacklustereconomicconditionsintheregion’slargestwealthcenters(Germany,theUK,andFrance),andmarketexposuretothe

protectionistshiftinUStradepolicy.Manyglobalinvestorsdiversifyingtowardsnon-USassets

favoredtherelativestabilityandvalueofEuropeanstocks,whichdrovehealthydouble-digitgainsacrosstheregion’sequitymarkets(afterastarkunderperformancein2024).Strongcurrency

appreciationagainsttheUSdollarandpolicyeasingbyEurope’scentralbanksfurtherbolstered

assetholdings.Growthoftheregion’sUHNWpopulationmirroredthatinNorthAmerica,liftingthesizeoftheultrawealthyclassto140,140individuals,or25%oftheglobaltotal.

Supply-sideconstraintsandmoreextensiveregulationthanintheUSandAsiaremaineda

structuralcurbonentrepreneurial-ledwealthcreation.Atthesametime,theregion’slong-

establishedprivatebankingandwealth-managementstructuresheldstrongappealtogloballymobilecapitalamidheightenedgeopoliticalvolatility.Fromaneconomicstandpoint,alandmarkfiscalstimulusprograminGermanyandaregion-widerampingupofdefensespendingwerea

causefor(cautious)optimism,aswerefirmergrowthtrendsacrosssouthernandcentralEurope,drivenbyvibranttourismsectorsandtargetedEUfunds.Overall,thecumulativenetworthoftheUHNWclassin2025increasedby15.2%to$16.3tn,aslightlyhighertotalthanthatofAsia.

MiddleEast

Ultrawealthgenerationintheregioncurbedbysubduedenergyandcapitalmarkets

IncontrasttodynamicwealthexpansioninthethreelargestUHNWregions,theMiddleEast

registeredamoderate4.4%riseinultrawealthynumbersto22,880individuals.Extensivenon-oil

diversificationinitiativesandlargesovereigninvestmentprogramssupportedcapitalinflowsintheleadingwealthcentersofSaudiArabiaandtheUnitedArabEmirates(UAE),butastillheavyrelianceonhydrocarbonexportsacrosstheregiondampenedoverallwealthtrends.Oilpricestrendedlowerthroughtheyearandclosed2025downalmost20%,thelargestannualfallsince2020.Equity-

marketreturnsvariedsharplyonacountrybasis,shapedbytheirsectorfocusandunevenmonetarypolicypaths,butoverallunderperformedtheemerging-marketaverage.TheUSdollarcurrencypeginmostGulfArabcountrieswasfarlesssupportiveofUHNWportfoliosthanin2024.Cumulative

networthoftheUHNWclassintheMiddleEastedgedupby1.9%to$3tn,aglobalshareofjustbelow5%.

Regional,countryandcityperformance

LatinAmericaandtheCaribbean

StrongreboundinUHNWnumbersandweaIthJdrivenbynon-oiIcommoditiesandpositivecapitaImarkettrends

TheUHNWpopuIationinLatinAmericaandtheCaribbeangrewby12.5%in2025to16J400

individuaIs.UItraweaIthportfoIiosregisteredmuchimprovedgainsafteradisappointing2024J

boIsteredbystrongnon-oiIcommoditydemand(especiaIIyforindustriaImetaIsandagricuIturaI

products)JmoresupportivefinancingconditionsJandpositivecapitaImarketdeveIopments.US-IedtradedisIocationwasanetnegativebutboIsterednearshoringopportunities.MostLatinAmericancentraIbanksmaintainedaneasingstanceJwiththeregion’sIargestweaIthmarketofBraziIa

notabIeexception.Stockmarketstrendedhigher-MexicoandChiIewerethestandoutperformers-thankstopocketsofstrongweaIthcreationinexpandingdigitaIJfinanceandconsumersectors.

AIsoprovidingaboostwerecurrencyappreciationagainsttheUSdoIIarandhighercapitaIinfIowstiedtogIobaIinvestordiversificationawayfromUSassets.AnnuaIgrowthofUHNWweaIthinLatinAmericaandtheCaribbeanIaggedsIightIybehindtherbigthree’regionsin2025butJnevertheIessJrecordedarobustdoubIe-digitriseto$2tn.

ThePacificandAfrica

ModerateweaIthgainsinAustraIiaoutshonebyasurgeinAfrica’sUHNWpopuIation

TheUHNWcIassinthePacificregion-whichIargeIyrefIectsdeveIopmentsinAustraIia-roseby

justunder5%to7J630individuaIs.GIobaItrendsshowedfairIyresiIientdemandacrossAustraIia’s

dominantsectorsofmineraIcommoditiesandsophisticatedfinanciaIandbusinessservicesJ

aIthoughequitymarket(andbroaderweaIth)gainswereconstrainedbystructuraIIyweakerexportstoChina(itsIargesttradingpartner)anddomesticreaIestateandcost-of-Iivingpressures.After

reIativeunderperformancein2023-24JthesmaIIestUHNWregionofAfricarecordeda24%surgeinuItraweaIthynumbersin2025to3J440individuaIs.ThiswasthestrongestgrowthofanyregionJwithassetportfoIiosbuoyedbymorebenignfinancingcostsJcurrencyappreciationagainsttheUSdoIIarJrisingdigitaItransformationJandnewinvestmentstiedtogrowingdemandfortheregion’s

criticaImineraIreserves.Thetworegionsaccountedforacombined2%ofthegIobaI

UHNWpopuIation.

Altrata|WorldUltraWealthReport2026|11

Regional,countryandcityperformance

Altrata|WorldUltraWealthReport2026|12

LeadingUHNWcountries

→Three-quartersoftheglobalUHNWpopulationresideinthe10leadingcountries

Therisingmobilityofcapitalamongtheultrarichandmorediversifiedopportunitiesforwealth

generationaredefiningfeaturesoftoday’sglobaleconomy.Itremainsthecase,however,thatthevastmajorityofUHNWindividualsareconcentratedinarelativelysmallnumberofwealthmarkets,underliningthefocusedopportunitiesfororganizationsthattargetand/orcatertotheglobalrich.Here,wehighlightthekeycountrytrendsandrecentchangesinUHNWpopulationsize.

Top10UHNWcountries

UHNWpopulationin2025

Year-on-yearchange

Rankandwealth

inpopulation

US

$23.8tn

China

$6.1tn

Germany

$3.4tn

Japan

$2.1tn

UK

$2.1tn

HongKong

$2.1tn

Canada

$2.0tn

France

$1.7tn

Italy

$1.4tn

India

$1.4tn

1

206,88015.0%

2

55,49010.1%

28,330

22,435

20,495

18,290

17,590

15,540

12,905

11,275

3

15.6%

4

5

23.0%16.3%

6

26.4%

7

16.1%

8

10.0%

9

10

13.2%6.1%

Note:Populationnumbersarerounde