Stock traders on the NYSE floor in New York City (New York state, USA) in June
The number of millionaires with assets of $30 million or more (i.e., ultra-high-net-worth individuals) in 2024 is expected to increase by 8% to 426,330 individuals compared to 2023, with most of the growth coming from the US, according to Altrata's 2024 World Ultra Wealth Report.
Their total wealth will increase by 7% compared to 2023, reaching $49,000 billion thanks to stocks.
In the US, the number of ultra-rich people increased by 13% to 147,950, meaning the US now accounts for one-third of the ultra-rich population globally.
The ultra-wealthy population is expected to grow by 38% to 587,650 people over the next five years, according to Altrata. Their combined wealth is expected to increase by $19 trillion, creating a huge new opportunity for companies that serve the ultra-wealthy.
Number of millionaires increases 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 super-rich will spend $118 billion on luxury goods and services in 2023, accounting for about a third of global spending in this segment.
New York City (New York State, USA) is home to the largest concentration of ultra-rich people, with 16,630 millionaires worth $30 million or more. Hong Kong is second with 12,546 individuals, followed by Los Angeles (California State, USA) with 8,955 people and Tokyo (Japan) with 6,445 people.
Source: https://thanhnien.vn/tong-tai-san-cua-gioi-sieu-giau-nam-2024-tang-len-49000-ti-usd-nho-co-phieu-185240720141515152.htm
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