- The global population of ultra-high net worth individuals (those with assets of $30 million or more) has surged to a record 713,626, with the number of billionaires projected to reach nearly 4,000 by 2031, largely propelled by the tech industry boom, especially artificial intelligence.
- The UK is experiencing a notable decline in its attractiveness to wealthy individuals, with forecasts indicating it will see the fifth lowest growth in ultra-high net worth individuals by 2031 compared to other major economies, suggesting a decade of stagnancy.
- Labour's fiscal policies, specifically Chancellor Rachel Reeves' decision to abolish the non-dom tax status, are cited as a primary reason for the UK's diminishing appeal, potentially leading to a significant relocation of wealthy individuals.
- The United States maintains the largest share of high net worth individuals globally, with 251,135 forecast by 2026, followed by China and Germany, highlighting a significant ongoing shift in global wealth distribution.
- Indonesia is expected to witness the fastest growth in ultra-high net worth individuals, with an 82 per cent increase projected by 2031, alongside substantial growth in oil-rich Saudi Arabia and Poland.
IN FULL
