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Global ultra-wealthy population to surge by 28.1% in 2028

The global population of ultra-wealthy individuals is expected to grow by 28.1% by 2028, with significant contributions from India and China, according to Knight Frank’s Wealth Report 2024. Lower interest rates, a strong US economy, and equity market recovery are key drivers. While wealth creation is robust in the Middle East, Australasia, and North America, Europe trails, with Africa and Latin America expected to perform weakest. Despite recent wealth declines due to economic shocks, a resurgence in wealth is anticipated, fueled by economic growth and investment sector recoveries. The report also highlights the growing proportion of women among the ultra-wealthy and a significant generational transfer of wealth, positioning millennials as potentially the richest generation in history.


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