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Ultra Wealthy Numbers Dip

There are fewer people in the world with net worth of at least US$30 million in the first half of 2022 than there were a year earlier, says ‘The World Ultra Wealth Report’ published by Altrata. A six per cent decrease from 2021’s record high takes the total number of ultra-high net-worth (UHNW) individuals to 392,410 as wealth portfolios were impacted by global economic matters triggered by the war in Ukraine. North America accounted for the largest regional decline at almost 10 per cent and Europe saw a six per cent decline. Although Asia posted a five per cent decline, China, at 2.3 per cent, was the only major wealth market to increase its UNHW population. The report also revealed that combined net worth among the UHNW population fell by 11 per cent to $41.8 trillion. Looking at the assets owned by UHNW people globally, women are more likely to own luxury watches, jewelry, and high-end art. Men are more likely to own jets and yachts.

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