Cision PR Newswire September 11, 2023
Lifestyle
Today Altrata, the global leader in data-driven intelligence on the wealthy and influential, released the 11th edition of the World Ultra Wealth Report 2023. The report reveals a 5.4% decline in the ultra-high net worth (UHNW) population in 2022, the first annual decrease of this population in four years, and the most substantial contraction since 2015.
The World Ultra Wealth Report 2023 leverages Wealth-X data and sheds light on the state of the global UHNW population; those with a net worth of $30 million or more. Despite the annual decline in population, the ultra-wealthy still hold more than $45 trillion in assets, with a median wealth of $51 million per person.
Leveraging Wealth-X's proprietary Wealth and Investible Assets Model, the global ultra-wealthy population is expected to total 528,100 people by 2027, an increase of 133,000 on 2022 levels. UHNW wealth is projected to rise to $60.3trn, implying an additional $14.9trn of newly created wealth over the next five years.
The recent decline impacted global regions and cities differently. Among the numerous findings, the World Ultra Wealth Report 2023 reveals:
The report goes on to examine different ultra-wealthy archetypes, namely entrepreneurs, corporate executives, and sole inheritors. These archetypes highlight the similarities and differences among these demographics by wealth source, asset allocation, industry affiliation, luxury asset ownership trends, and more.
"Whether by chance or design, the turbulent backdrop of 2022 provided wealth-creation opportunities for some among the ultra-wealthy class," said Manuel Bianchi, head of global sales for Altrata. "Altrata's World Ultra Wealth Report 2023 is an indispensable guide for organizations seeking to navigate the intricate world of the ultra-wealthy."
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