The United States continues to hold a significant share of global billionaire wealth, accounting for approximately $5.7 trillion, which represents about 40% of total global wealth in this category. This positions the U.S. as a prominent leader, housing 30% of the world’s billionaires and nearly 40% of those with $10 million or more.
Meanwhile, other regions are witnessing a rapid increase in their populations of ultra-wealthy individuals. Last year, about 20% of individuals with $10 million or more resided in China, highlighting its growing influence in the wealth sector. Knight Frank’s report points to a substantial rise in billionaires across various countries including India, which boasts 191 billionaires, 26 of whom emerged recently.
France, Brazil, and Russia are also experiencing an upsurge in their billionaire counts. Additionally, Africa stands on the cusp of a significant wealth expansion, driven by a burgeoning young population, plentiful natural resources, and foreign investments that are expected to contribute to rapid economic growth.
Although the finance and investment sectors currently encompass the largest number of billionaires, the technology sector surpasses others in terms of sheer wealth, amassing $2.6 trillion globally. Notably, nine tech billionaires each hold over $50 billion. Furthermore, the manufacturing sector is rivalling tech in creating new wealth, showing a dynamic shift in sectoral wealth generation.
Demographically, billionaires remain male-dominated; however, there is a notable rise in young female billionaires under 30, marking a gradual shift in gender dynamics within the affluent circles.
As the landscape of global wealth continues to evolve, countries beyond traditional powerhouses are increasingly contributing to the billionaire count, hinting at a more diversified global economic future.
