2024年全球億萬富翁普查報告 Billionaire Census 2024

BillionaireCensus2024

Thoughtleadership

BillionaireCensus2024

LTRT

BrianAlster

ChiefExecutiveOfficer

JeffWender

ChiefRevenueOfficer

ManuelBianchi

GlobalHeadofSales

AmandaCifone

SeniorMarketingDirector

Leadauthors

MayaImberg

SeniorDirector,HeadofThoughtLeadershipandAnalytics

MaeenShaban

DirectorofResearchandAnalytics

BettinaLengyel

AssociateAnalyst,ThoughtLeadershipandAnalytics

Design

DawnLastre

VisualCommunicationsSpecialist

?Altrata.November2024.

Thispublicationisforyourinformationonlyandisnotintendedasanoffer,orasolicitationofanoffer,tobuyorsellanyproductorotherspecificservice.Allinformationandopinionsindicatedaresubjecttochangewithoutnotice.

Contents

01

Executivesummary1

02

Introduction2

03

Thebillionaireclassin20233

04

Regional,countryandcityperformance8

05

Today’sfemalebillionaires16

06

Methodology26

07

AboutAltrata27

Altrata|BillionaireCensus2024

01

Executivesummary

>

>

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Theglobalbillionairepopulationexpandedby4%in2023to3,323individuals,more

thanreversingthepreviousyear’sdeclinetohitanewhighinbillionairenumbers.

Theirnumberswerebolsteredbyrising

stockmarketsandaworldeconomythat

provedmoreresilientthanexpected,giventheconstraintsofhighinflation,tight

monetarypolicy,cost-of-livingpressuresandgeopoliticalinstability.Billionaires’

totalwealthincreasedstronglyby9%toarecord$12.1trn.

Therichestbillionairesaregetting

richer.Anexclusive18individualsreside

intheverytoptierofbillionairewealth,

eachwithafortuneinexcessof$50bn.

Overthepastdecade,thenumberof

individualswith$50bn+hasrisenjust

slightlyto0.5%ofallbillionaires,yetmoreremarkablebyfarhasbeenthefourfold

increaseintheirshareofbillionairewealth:fromunder4%in2014to16%in2023.

Thetotalnetworthofthese18individualsamountedto$2trn,implyinganaverage12-figurefortuneofjustover$100bn.

Indiarecordedthestrongestexpansion

(16%)inbillionairenumbersofallthe

leadingcountriesin2023,risingtoa

populationof131.Inmarkedcontrast,

Chinaexperiencedthelargestrelative

declineinbillionairenumbersofallmajor

wealthmarketsforasecondconsecutive

year,withitsbillionairepopulationfalling

byalmost15%to304.TheUSenhanceditsstatusasthedominantbillionairecountry,recordinga10%riseinitspopulationto

1,050individuals.NewYorkmaintaineditsleadatthetopofthecitytable,aheadof

HongKong,whichlostgroundforathird

consecutiveyearasaresultofthefallout

fromthepoliticalclampdownandportfolioexposuretounderperformingChina-

relatedassets.

>

>

>

NorthAmericasawthefastestgrowthinbillionairenumbersofanyregionin2023.

Aresilienteconomyandequitysurge

helpedtobolsterNorthAmerica’sstatusastheworld’sleadingbillionaireregion,

recordinga9.9%increaseinitspopulationto1,111individuals,andraisingitsglobal

shareto33.4%.Asiawastheonlyregiontorecordadeclineinbillionairenumbersandwealth,experiencinga3.5%fallinitsbillionairepopulation(to806individuals)

anda2%dropintotalnetworth.Europe’sbillionairepopulationregisteredabove-averagegrowthof5%to980individuals,consolidatingitspositionastheworld’s

second-largestbillionaireregion(witha30%share).

Therewereatotalof431female

billionairesin2023.Whileaccountingforanincreasingshareofbillionaires,

at13%,womenstillremainverymuchintheminority.Three-quartersoffemalebillionaireshaveinheritedatleasta

portionoftheirwealth,comparedwithathirdofmalebillionaires;thoughthe

numberofself-madefemalebillionairesisrisingquickly.Thesectoralfocusof

athirdofbillionairewomeniseither

thenon-profitsectororbankingand

finance.Philanthropyis,withoutdoubt,thepreferredinterest,faraheadof

sportsandart.

Femalebillionairesaremorelikelythan

theirmalecounterpartstoownluxury

propertyandvaluableart.Billionaire

womenareone-and-a-halftimesmore

likelytoownhigh-endrealestate(worthmorethan$10m),and1.3timesmorelikelytoownvaluableart(asingleitemworth

morethan$1m).Incontrast,privatejets,yachtsandinparticularvaluablecarsaremorepopularamongmalebillionaires.

Altrata|BillionaireCensus2024|1

02

Introduction

Altrata’slatestBillionaireCensus–the11theditionpoweredbyWealth-Xdata–providesa

comprehensiveoverviewandanalysisoftheworld’sbillionairepopulation.Modestinsize,but

withasignificantandgrowinginfluenceacrosstheglobaleconomy,thebillionaireclassholdsan

immenselevelofwealth.Followinganotheryearofrisingfortunes,billionaires’collectivenetworthisnowvaluedinexcessof$12trn.

2023wasanotherfreneticyearfortheworldeconomy,assailedbyincreasinglycomplex

geopolitics,large-scaleregionalconflicts,avolatileclimateandpolicyindecision.Againstthisbackdrop,mostwealthmarketsreboundedstronglyfromthelossesof2022,withinvestor

enthusiasmforgenerativeartificialintelligenceandtheprospectofmonetaryeasingbymajorcentralbanksdeliveringalate-yearboosttoglobalstockmarketsandportfolioreturns.

Weexploreindetailtheimpactofthesedevelopmentsacrosstheglobalbillionairepopulation

andthechangesincumulativenetworth,highlightingthekeydriversandregionalwealthtrends,aswellasrankingtheleadingbillionairecountriesandcities.Wealsoexaminethedistributionofglobalultrawealth,placingincontexttherecentsurgeinfortunesofanelitegroupoftheworld’sveryrichestindividuals.

UtilizingWealth-X’sextensivedatabase,thereportthenmovestofocusonthecharacteristics

ofthefemalebillionairepopulation.Globally,womenaccountforarisingshareofwealth,afactthathasmajorimplicationsforcompaniesandorganizationsintermsofmarketingtothefemaledemographic,theproductsandservicestheyoffer,theirprospectingstrategiesandmore.Weprofilethefemalebillionaireclassasagroup,examiningfacetsincludingage,wealthsource,

primaryindustry,assetallocation,leadinginterestsandphilanthropicengagement.Wedrawoutkeythemes,comparewithcorrespondingdataontheirmalepeers,andshineaspotlightonthegrowingnumberofbillionairewomenwithself-createdfortunes.

Altrata’scomprehensivedataprovidesunrivaledinsightintothestatusoftheworld’swealthiestindividualsandtheircharacteristics,makingitanessentialreadforanyproviderlookingto

prospectforandengagewithindividualsinthishighlyexclusivedemographic.

Keydefinitions

Ultrahighnetworth(UHNW)individuals

Thosewithanetworthof$30m+(alsoreferredtoasthe“ultrawealthy”).

Veryhighnetworth(VHNW)individuals

Thosewithanetworthof$5mto$30m.

Altrata|BillionaireCensus2024|2

03

Thebillionaireclass

in2023

Largerthanever

Theglobalbillionairepopulationexpandedby4%in2023to3,323individuals.Thismorethanreversedthepreviousyear’sdeclinetomarkanewhighinbillionairenumbers.Wealthholdingsoftheultra

richwerebolsteredbyrisingstockmarketsandfirmer“risk-on”sentimentacrossmostotherasset

classes.Theworldeconomyremainedsluggish,constrainedbyhighinflation,tightmonetarypolicy,

cost-of-livingpressuresandgeopoliticalinstability,butitwasultimatelymoreresilientthanexpected.Graduallyeasinginflationandtherisingprospectofcentralbankinterestratecutsspurredalate-yearrallyinglobalequities.Amidgrowingoptimismofasoftlandingfortheeconomy,totalnetworthof

thebillionaireclassincreasedstronglyby9%toarecord$12.1trn.Thiscomparedwithaprevioushighof$11.7trnin2021.

Therewerecontrastingsectorreturns,withthepatternlargelyareverseof2022.Thestrongest

stockmarketgainswereintechnology(drivenbysurginginvestorenthusiasmforgenerativeartificialintelligence),financialservicesandconsumergoods,whichoutperformedmoredefensivesectorssuchashealthcare,utilitiesandenergy.Travelandtourismcontinueditspost-pandemicrevival,

whereashigherinterestratesweighedonreal-estateactivityandcorporatetransactions.High-

volatilitycryptoassetsralliedstronglyfromtheir2022slump.TheglobalbackdropforwealthmarketsremainedturbulentamidincreasinglycomplexgeopoliticsshapedbyRussia’sinvasionofUkraine,

deepeningrivalrybetweenChinaandthewest,anewIsrael-Hamaswar,wideningtraderestrictions,andongoingtechandclimatedisruption.

Theglobaleconomyataglance

Selectedglobalindicatorsfor2023

(year-on-yearchange)

3.2%

RealGDPgrowth

4.6%

Advancedeconomies

8.3%

Emergingand

developingeconomies

Consumerpriceinflation

24%

$terms

MSCIworldequityindex

-18%

S

Globaloilprice($/barrel)

-16%-30%

TransactionsCapitalraised

GlobalIPOactivity

Sources:InternationalMonetaryFund,WorldEconomicOutlook,April2024;MorganStanleyCapitalInternational(MSCI);PwCGlobalIPOWatch2023;WestTexasIntermediateCrudeOil.

Altrata|BillionaireCensus2024|3

Thebillionaireclassin2023

Billionairesacrosstheglobe

Globalbillionairepopulationin2023

%

3,323

Totalnumberofbillionaires

oftheworld'sbillionaires

4.0%

Changeinpopulationfrom2022

Europe

NorthAmerica

980

5.0%

Asia

29.5%

24.3%

1,111

9.9%

806

↓-3.5%

MiddleEast

206

0.5%

33.4%

6.2%

LatinAmericaandtheCaribbean

t

Africa

148

5.0%

7

b

29

13.6%

0.9%

4.5%

43

Pacific

1.3%

4.9%

$12,107bn

Totalwealth

Globalbillionairewealthin2023

$

%

oftheworld's

billionairewealth

9.0%

Changeinwealthfrom2022

Europe

NorthAmerica

$

Asia

$$2,573bn

↓-2.0%

$3,179bn

26.3%

21.2%

$$5,027bn

15.7%

9.6%

MiddleEast

$

$601bn

41.5%

5.0%

0.1%.

LatinAmericaand

Africa

theCaribbean

7

b

$

$54bn

↓-3.7%

$$581bn●

Pacific

4.8%

0.4%

18.2%

$

$93bn

6.1%0.8%

Note:Dataonthetotalorpercentageoftheworld’sbillionairepopulationandwealthmaynotaddupexactlyortotal100%owingtorounding.

Source:Wealth-X,anAltratacompany,2024

Altrata|BillionaireCensus2024|4

Thebillionaireclassin2023

Anoutsizedshareofglobalnetworth

Theunevendistributionofglobalwealthisevidentatalllevelsofsocietyandacrossallwealthtiers,butisalsopresentwhenexaminingtheworld’ssuperrich.In2023,thebillionaireclassof3,323

individualsrepresentedjust0.01%oftheglobalhighnetworth(HNW)population–individualseachwithafortuneinexcessof$1m–butheld8%ofthetotalstockofHNWwealth.

Narrowingthefocustojusttheverywealthyultrahighnetworth(UHNW)segment–numbering

morethan426,000individuals,eachwithafortuneofmorethan$30m–thebillionairepopulationcomprisedonlya0.8%share,yettheircollectivenetworthof$12.1trnaccountedforanoutsized25%oftotalUHNWwealth.Thisproportionhasrisenfromaround20%adecadeago,buthasremained

broadlystableoverthepastfiveyears.

Theglobalwealthybytier

Populationandglobalwealthbymajorwealthtierin2023

PopulationWealth

3,323billionaires

$12,107bn

423,000+UHNWindividualsexcluding

billionaires($30m-$1bn)$37,052bn

3.9million+

VHNWindividuals($5m-$30m)

$39,491bn

Note:Thesizeofthepyramidsegmentspe比ainstowealth,notpopulation.

Source:Wealth-X,anAltratacompany,2024

Billionairesmadeuplessthan1%oftheglobalUHNW

populationyetheld25%ofthisgroup’stotalwealthin2023

Altrata|BillionaireCensus2024|5

Thebillionaireclassin2023

Wealthdistributionamongbillionaires

Intermsofdistributionbywealthtierwithinthebillionaireclassitself,justoverhalfoftheglobal

populationisinthe“l(fā)owest”billionairewealthbracket,eachwithanetworthofbetween$1bn

and$2bn.Afurtherthirdhasanetworthof$2bn-$5bn.Viewedtogether,thisgroupof84%ofallbillionairesholdsome42%oftotalbillionairewealth.Thisfitswiththegeneraltrendofalargeshareofacohort’spopulationfallingwithinthe“l(fā)ower”wealthtiers,asshownbythemedianwealthlevel($1.8bn)oftheglobalbillionaireclassbeingwellbelowthemeanaverageof$3.6bn.

Wealthtiers

Billionairepopulationandwealthbywealthtierin2023

Wealthtier

$50bn+

$10bn-$50bn

$5bn-$10bn

$2bn-$5bn

$1bn-$2bn

1,687

18

176

351

$1,974bn

$2,944bn

1,092

$2,157bn

$2,975bn

$2,058bn

NumberofbillionairesWealth

Source:Wealth-X,anAltratacompany,2024

Thosewithanetworthofbetween$5bnand$10bncompriseanother10%oftheglobalbillionaireclass.Risingfurther,ahighlyprivileged194billionaires(upfrom171in2022)eachholdafortuneofmorethan$10bn.Comprisingjust6%ofthebillionaireclass,theycontrolastaggering41%ofglobalbillionairewealth,withacombinednetworthofalmost$5trn.

Overhalfofallbillionaireshave

anetworthof$1bn-$2bn

Altrata|BillionaireCensus2024|6

Thebillionaireclassin2023

Thosewith$50bn+areintheascendant

Anexclusive18individualsresideintheverytoptierofbillionairewealth,eachwithafortuneinexcessof$50bn.Overthepastdecade,theshareofthisgroupamongthetotalbillionairepopulationhas

risenjustslightly,fromashareof0.2%in2014tothecurrent0.5%.Moreremarkablebyfarhasbeentherelativeincreaseintheircombinedwealth.In2014,thoseinthe“super-billionaire”classwithanetworthof$50bn+held4%ofglobalbillionairewealth.Asof2023,thissharehadrisenfourfoldto16%.Thetotalnetworthofthese18individualsamountedto$2trn,implyinganaverage12-figurefortuneofjustover$100bn.

Richestbillionairesgettingricher

Shareofwealthbywealthtier

Percentagepointchangeoftheshareofthebillionairepopulationandtheirwealthbytierover2014-2023

Wealth

2023

2014

Wealthtier

Population

16.3%

I0.4%

$50bn+

12.5%

3.8%

24.3%

0.8%

3.3%2.2%

1.4%

$10bn-$50bn

-1.4%

25.7%

17.8%

$5bn-$10bn

15.6%

24.6%

$2bn-$5bn

-5.6%

30.1%

17.0%

-5.8%

$1bn-$2bn

-7.8%

24.8%

Source:Wealth-X,anAltratacompany,2024

Just0.5%ofbillionairesholdfortunesover$50bn,yetthesefewaccountfor16%ofbillionaire

wealth,adramaticincreasefrom4%in2014

Altrata|BillionaireCensus2024|7

04

Regional,country

andcityperformance

NorthAmerica

ResilientUSeconomyandequity

surgedrovestrongbillionairegrowth

NorthAmericabolstereditsstatusastheworld’sleadingbillionaireregionin2023,recordinga

9.9%increaseinitspopulationto1,111individuals.Thiswasthefastestgrowthofanyregionand

raiseditsglobalshareto33.4%.Thecombinedwealthofthebillionaireclasssurgedby15.7%

tojustover$5trn,morethantheannualGDPofGermany,theworld’sthird-largesteconomy.

Wealthholdingsweresupportedbyfirm

consumerdemandinaresilientUSeconomy,

despitetheFederalReserve(theUScentral

bank)continuingitsaggressivepolicytighteningoverthefirsthalfoftheyear.Themainboost

toportfolioscamefromrisingstockmarkets,

withtheS&P500closingtheyearup26%and

thetech-heavyNASDAQCompositeindexup

43%,reversingtheirsharplossesof2022.Equityreturnswereconcentratedheavilyacrossthe

so-called“magnificentseven”mega-captech

stocks,amidaninvestorfrenzyforgenerativeAI,deliveringstellargainstothefortunesofaselectgroupoftheworld’srichesttechtycoons.Otherregionalassetmarketsweremoresedate,but

mostrecordedmoderategrowth.TheUSdollarweakenedslightlyagainstmostothermajor

currencies,includingtheeuro.

Performancebyregion

Annualchangeinbillionairepopulationbyregionin2023

NorthAmerica

Europe

LatinAmericaandtheCaribbean

Pacific

Africa

MiddleEast

5.0%

5.0%

4.9%

3.6%

0.5%

9.9%

Asia

-3.5%

Source:Wealth-X,anAltratacompany,2024

NorthAmericawashometo1,111billionairesin 2023,athirdoftheglobalbillionairepopulation

Altrata|BillionaireCensus2024|8

Regional,countryandcityperformance

Whatdrivesgrowthinbillionairewealth?

Abillionaire’swealthisheldinvariousassettypes–oftenin

theirbusiness(es)andinvestments(inpubliclylistedorprivatecompanies),theircashholdingsandtheirluxuryassets,suchasrealestate,yachts,privatejets,jewelry,artandmore.Howthevalueoftheseassetschangesyearonyearisshapedbyalargenumberoffactors,fromglobalanddomesticdevelopments

influencingeconomicgrowth,capitalmarketsandcurrency

movements,tomoreindividualelements,suchasabillionaire’sbusinessandinvestmentstrategy,theirwealthplanning,

protectionandtaxstrategies,aswellastheirphilanthropicgiving.Whilebillionairesinthesamecountrywillbeexposedtosimilar

economic,politicalandregulatorydevelopments(amongothers),everybillionaire’sassetstructureisuniquesotheimpactontheirwealthwillbedifferentforeachindividual.

Altrata|BillionaireCensus2024|9

Regional,countryandcityperformance

Europe

Wealthassetsbolsteredbyequity

rebound,despiteeconomicstruggles

Europe’sbillionairepopulationregistered

above-averagegrowthof5%to980individuals,

consolidatingitspositionastheworld’s

second-largestbillionaireregion(witha30%share).Equitymarketsperformedstrongly

onthewhole,withtheMSCIEuropeIndex

up21%.AsinNorthAmerica,risingmarket

optimismaboutfallinginflationandfuture

ratecutsfueledalate-yearstockmarketrally.However,thiswasnotquiteasdynamic,owingtothesmallerweightingoftechstocksintheregion’smainindices.Economicperformanceintheregion’slargestwealthmarketsof

GermanyandtheUKdisappointedinthefaceofhighinflation,tightmonetarypolicyand

structuralconstraints.Incontrast,growthwasmorerobustinsouthernandeasternEurope,supportedbybuoyanttourismsectorsand

increasedEUfundingforinfrastructure.TherewasabroadslowdownacrosstheEuropean

real-estatesector,butsupportforwealth

portfoliosfromrelativecurrencyappreciation.

Thecombinedwealthoftheregion’sbillionaireclassincreasedby9.6%to$3.2trn.

Asia

Theonlyregiontorecordafallin

billionairenumbersandwealth,drivenbyChineseweakness

Thethird-largestbillionaireregionlostground

toitspeersforasecondconsecutiveyearin

2023,experiencinga3.5%fallinitsbillionaire

population(to806individuals)anda2%drop

intotalnetworth.Performanceacrossmajor

wealthmarketsdifferedsharply,withweaknessinChinaandHongKongcontrastingwithhealthygainsinIndiaandSingapore.Chinesestocks

wereadragonregionalassetperformance,

recordingathirdconsecutiveyearofdecline(inUSdollarterms),amidastructuralslowingoftheeconomyandadeepeningslumpinrealestate.ThebillionaireclassinIndiaenjoyedanother

bumperyear,andtherewerepocketsofstrongequityreturnsinthetech-heavymarketsof

SouthKoreaandTaiwan,andinJapan,wherethecountry’scentralbankmaintainedits

accommodativepolicystance.Overall,however,wealthcreationacrosstheregion’sprimarily

export-orientedeconomieswasconstrained

bytheeffectsofweakglobaldemand,sticky

Asia’sbillionairepopulation

declinedforasecond

consecutiveyear–by3.5%to806individualsin2023

Altrata|BillionaireCensus2024|10

inflationandtightmonetarypolicydesigned,inpart,tosupportcurrenciesunderpressure.

Regional,countryandcityperformance

TheMiddleEast

Billionaireportfoliosconstrainedbylowercommoditypricesandsubduedcapitalmarkets

Followingstrongwealthgainsin2021-22,thebillionaireclassintheMiddleEastexperiencedlessfavorableconditionsin2023.Adropin

globalenergypricesfromelevatedlevels

dampenedrevenuetrendsinhydrocarbon-exportingcountries,withcapital-market

returnsmostlyunderperformingthe

emerging-marketaverage.TheUSdollar

currencypeginmostGulfArabcountries

wasalsolesssupportiveofwealthportfoliosthaninrecentyears.Overall,theMiddleEastrecordedthesecond-weakestregional

performance,withalargelyunchanged

billionairepopulation(of206individuals)andcumulativewealthstock.Theearlierwindfall

frompeakhydrocarbonpricesassistednon-oilinvestmentanddiversificationactivityinthe

largestwealthmarketsofSaudiArabiaandtheUAE,buteconomicactivityacrosstheregionasawholewassubduedinthefaceofhigh

livingcosts,socialunrestandcivilconflicts.

LatinAmericaandtheCaribbean

Robustwealthgainsdrivenbyrisingstocksandinvestmentinflows

Above-averagegrowthof5%liftedthe

billionairepopulationofLatinAmericaandtheCaribbeantoanewhighof148individuals.

Despitelessfavorabletermsoftradeacrossthemajorcommodity-exportingwealth

markets,thecumulativewealthofthe

billionaireclasssoaredby18.2%to$581bn,thestrongestexpansionofanyregion.

Assetportfolioswerebuoyedbymostly

strongequitymarketgains,withactivityand

sentimentbolsteredbytheresilienceofthe

USeconomy,stronginvestmentinflowsdue

tonearshoring,solidtourismgrowth,and

positivepass-througheffectsofearliercutstointerestrates.AnexceptionwasMexico,whichaggressivelyraisedrates,drivingasubstantialpesoappreciationagainsttheUSdollar.

ThePacificandAfrica

ResilientassetportfoliosinAustraliabutbillionairewealthfellinAfrica

Thecomparativelysmallbillionairepopulations

ofbothregionsmeanthatcautionisrequiredwheninterpretingannualchanges.The

PacificregionlargelyreflectsdevelopmentsinAustralia,wherebillionairewealthis

concentratedinmining,financialservices,

techandproperty.Therewasafairlyresilient

performance,withariseinbillionairenumbers(to43individuals)andcumulativenetworth,

despitethebackdropoflowercommodity

prices,sluggishdemandinChina(Australia’s

largestexportmarket)andhighinterestratesthatweighedoncapital-marketandreal-estatereturns.Theglobalrecoveryinthetechsectorprovidedaboosttototalwealth.InAfrica–theregionwiththesmallestpopulation,equivalenttoa0.9%globalshare–cumulativebillionaire

wealthfellby3.7%to$54bn.Exposureamongcommodityproducerstoweakertermsof

trade,aswellastightfinancingconditions,

powershortagesandongoingpoliticaland

socialunrest,allweighedonassetportfolios.

Altrata|BillionaireCensus2024|11

Regional,countryandcityperformance

Topbillionairecountries

Thetop15countriesarehometojustoverthree-quartersoftheglobalbillionairepopulation,

underliningtheinfluentialstatusofthisselectgroupofwealthmarketsandthefocusedopportunitiesforcompaniesandorganizationsthattargetthesuperwealthy.Here,wehighlightsomeofthekey

countrytrendsandrecentchangesinbillionairepopulationsize.

Top15billionairecountries

Billionairepopulationin2023

Rankandwealth

1US

$4,893bn

Population

1,050

Year-on-yearchangeinpopulation

9.9%

2China

$1,168bn

3Germany

$614bn

4India

$395bn

5UK

$296bn

6Russia

$469bn

7Switzerland

$371bn

8HongKong

$262bn

9Italy

$212bn

10France

$284bn

11SaudiaArabia

$195bn

12Canada

$134bn

13Singapore

$108bn

14Brazil

$204bn

15UAE

$205bn

170

131

122118116

10774726861

585548

304

-14.8%

-1.7%

7.0%

5.4%5.5%

15.9%

-4.5%

-4.2%

10.4%

10.8%

8.9%

7.4%

mm14.6%6.7%

Source:Wealth-X,anAltratacompany,2024

Billionairenumbersrosein11ofthe15leadingcountriesin2023

Altrata|BillionaireCensus2024|12

Regional,countryandcityperformance

RobustgrowthoftheUSbillionairepopulationasChinalosesground

TheUSenhanceditsstatusasthedominantbillionairecountry,recordinga10%riseinitspopulationin2023to1,050individuals.Thecountryishometoathirdoftheworld’sbillionaireclass,more

thanthreetimesthelevelinsecond-rankedChina.TheproportionofglobalbillionairewealthheldintheUSisevengreater,at40%.Dynamictech-focusedstockmarketgainsandamoreresilient

economythanitsdeveloped-marketpeerswerethemaindriversofitsstrong2023performance,overshadowingmodestcurrencyweaknessandheightenedpoliticalinstability.Inmarkedcontrast,

Chinaexperiencedthelargestrelativedeclineinbillionairenumbersofallmajorwealthmarketsforasecondconsecutiveyear,whichwascharacterizedbyasluggisheconomy,areal-estatedownturn,risinglocaldebtconcernsandunderperformingcapitalmarkets.

AnotherstrongperformancebyIndia’sexpandingbillionaireclass

Germany–Europe’slargestwealthmarket–maintaineditsthird-placedranking,despiteafallin

itsbillionairepopulation.Inlinewithdevelopmentsinmostofitsregionalpeers,Germany’stotal

billionairewealthreboundedonthebackofsentiment-drivenequitygainsandimprovedtermsof

tradefromlowerenergycosts.However,theGermaneconomyremainedanotableunderperformerintheeurozone,hamperedbystructuralconstraintsthatwillnotbeeasytoovercome.Itspositionasatop-threebillionairecountrywilllikelysoonbethreatenedbyIndia,whichrecordedthestrongest

expansioninbillionairenumbersamongalltheleadingcountriesin2023.Robusteconomicgrowth,infrastructuredevelopment,risingcapitalinflowsandamaturingconsumermarketbolsteredIndianstocksandbroaderwealthgeneration.

RobustbillionairewealthgainsinBrazilandItaly,butfallsinSaudiArabiaandHongKong

Mostoftheotherleadingwealthmarketsincreasedtheirbillionairepopulations,withBrazil,FranceandItalyregisteringfastgrowth.NotablyweakerperformerswereSaudiArabiaandthesemi-

autonomousterritoryofHongKong(seetopbillionairecities),whichbothrecordedadeclinein

theirbillionairepopulationsandcumulativewe