They keep $86.8 billion

The number of super-rich reached unprecedented levels almost worldwide in 2023, boosted by a rebound in global economic prospects. The global wealth of so-called HNWIs (high net worth individuals) grew by 4.7% in 2023. to reach $86.8 billion.This is according to the Capgemini Research Institute’s Global Prosperity 2024 report, released today.

This comes as the number of super rich increased by 5.1%, to 22.8 million worldwide and continues to grow despite market instability. This upward trend offsets the previous year’s decline.

North America ahead

North America has seen the world’s largest billionaire recovery. interannual growth of wealth by 7.2% and population by 7.1%.n. Strong economic resilience, cooling inflation pressures and an impressive recovery in the US stock market contributed to economic growth, according to the report.

In the Asia-Pacific region, large fortunes grew by 4.8%, while their assets grew by 4.2%. In Europe, growth in the number of billionaires was more modest (4%), and their wealth increased by 3.9%.

Latin America and the Middle East recorded moderate growth in the number of rich people, with wealth increasing by 2.3% and 2.9% and population increasing by 2.7% and 2.1%, respectively.

In contrast, Africa was the only region where rich people’s wealth (-1.0%) and population (-0.1%) declined due to falling commodity prices and foreign investment.

Early data for 2024 suggests trends in cash and cash equivalents (deposits, cash funds, etc.) will normalize to 25% of the total portfolio, a sharp contrast to the 34% seen in January 2023. The report found that two in three wealthy individuals plan to invest more in private equity during 2024 to take advantage of potential growth opportunities in the future.

Ultra Rich

Within the entire HNWI segment, the most profitable for estate management entities are ultra-high net worth individuals (UHNWI), who make up about 1% of total wealth, but concentrate 34% of the wealth of the specified segment.