UHNW Individuals Control $60 Trillion of Global Wealth

The global ultra-high net worth (UHNW) population, comprising individuals with a net worth in excess of $30 million, totalled 510,810 at the end of June 2025, a rise of 5.4% since the beginning of the year, Altrata, a definitive leader in global wealth intelligence, professional relationship mapping and affluent market dynamics, said.

In its 13^th edition of latest World Ultra Wealth Report, Altrata said that this followed a very robust expansion of 12% in 2024, the third-strongest growth in the past decade. The total net worth of the UHNW class rose by 6.7% to $59.8 trillion at the end of June 2025 (and by 11.6% in 2024) – a figure double that of the annual GDP of the US.

The US is by far the largest wealth market in the world, home to 38% of the total UHNW population, more than the combined share of all other countries in the top 10. The US ultra-wealthy numbers surged in 2024 (by 21%) and continued to expand firmly (by 6.5%) in the first half of 2025 at a faster pace than in second ranked China.

The UHNW population also rose strongly in all the top-ranked cities in 2024, with growth moderating to an extent over the first half of 2025. Hong Kong was a notable growth outlier and Tokyo was the only leading city to register a decline over the first half of 2025, the report said.

A huge shift in the generational makeup of the UHNW population over the next15 years is under way and will have far reaching implications. By 2040, today’s ‘Next Gens’ (Generation Z and Millennials) will comprise almost 35% of the global UHNW population, up from just 8% today.

Generation X (currently aged between 44 and 59) will account for 45%, almost doubling from the current 25%. Meanwhile, the combined share of the Baby Boomer and Silent Generation (and older) will fall steadily from 67% to just 20%.

US and Asia Fastest Growing

The regions of North America and Asia had the fastest growing ultra-wealthy populations. The UHNW population in the world’s leading ultra-wealth region increased by 6.2% in the first half of 2025 to 208,090 individuals, lifting North America’s share of the global ultra-wealthy class to a record 41%, almost eight percentage points higher than a decade ago.

In Asia, wealth portfolios in the second-largest UHNW region showed resilience amid trade dislocation, with the UHNW population expanding by 6.4% between January and June 2025 to 129,100 individuals.

The share of global private wealth held by the ultra-wealthy will continue to increase and by 2030, Altrata has forecast the global ultra-wealthy population will total 676,970 individuals, an increase of 166,160 from the mid-2025 level of 510,810.

Asia is expected to register the strongest growth in UHNW population, but North America will remain the largest ultra-wealth region by far. Among US states, Florida, Utah and Texas are set to experience the fastest growth in UHNW numbers.

India Stands Out

 India will be a standout, with four of the top 10 growth cities, including Bengaluru, Mumbai, Hyderabad and Delhi.

Ultra-wealthy Next Gens are more likely to have hospitality, entertainment or technology as their primary industries than the average UHNW individual, though banking and finance still dominates, the report said.

The transformative impact of rapid digital innovation and adoption is evident in the growing share of technology (accounting for 9%) as a primary industry focus among Next Gen ultra-wealthy.

Perhaps even more notably, the explosion of social media platforms is driving wealth creation in other sectors, such as hospitality and entertainment (15%), the report said.