As of 2018, there is a grand total of 198,342 ultra high net worth individuals (UHNWIs) globally with assets over US$30 million, according to the most recent edition of Knight Frank’s Wealth Report.
Expected number of UHNWIs in 2023 for the Top 10 Cities
Singapore will be rank #2 by 2023, with an expected total of 4,393 high net worth residents. Shanghai and Beijing could be cities to watch for decades to come, as they add millionaires and billionaires at a faster rate than any of the other heavyweights.
Here are the 10 cities that are expected to add UHNWIs the fastest between 2018-2023:
Not surprisingly, the fastest growth in UHNWIs over the next 5 years will come from Asian countries.
Credit: Jeff Desjardins @ Visual Capitalist