Total assets of the super-rich in 2024 increased to 49,000 billion USD thanks to stocks

Stock traders at the NYSE in New York City (New York state, USA) in June

The number of millionaires with assets of $30 million or more (i.e., those classified as ultra-wealthy) is projected to increase by 8% to 426,330 individuals in 2024 compared to 2023, with the majority of this growth coming from the United States, according to Altrata's 2024 Global Ultra-Wealthy Report.

Their total wealth will increase by 7% compared to 2023, reaching 49,000 billion USD thanks to stocks.

In the US, the number of super-rich people increased by 13% to 147,950, meaning the US now accounts for one-third of the global super-rich population.

Over the next five years, the ultra-high net worth is projected to increase by 38% to 587,650 people, according to Altrata's forecast. Their total wealth is expected to increase by an additional $19 trillion, creating enormous new opportunities for companies serving the ultra-high net worth.

The number of millionaires is increasing globally.

“The market for personal luxury goods and lifestyle services will expand rapidly, driven by the diverse interests and needs of the world’s ultra-high-net-worth population,” the report said. Altrata also observed a similar trend in the luxury real estate sector globally, driven by individuals entering the ultra-high-net-worth category for the first time.

The ultra-wealthy spent $118 billion on luxury goods and services in 2023, accounting for approximately one-third of global spending in this sector.

New York City (New York State, USA) has the highest concentration of ultra-wealthy individuals, with 16,630 millionaires with net worths of $30 million or more. Hong Kong ranks second with 12,546 individuals, followed by Los Angeles (California, USA) with 8,955 and Tokyo (Japan) with 6,445.

Source: https://thanhnien.vn/tong-tai-san-cua-gioi-sieu-giau-nam-2024-tang-len-49000-ti-usd-nho-co-phieu-185240720141515152.htm