The world’s ultrawealthy population last year hit a record 119,235 individuals with a combined net worth of $27.8 trillion, according to new report from Wealth-X and UBS.
The report identified 2,170 billionaires in this population with a total net worth of $6.5 trillion, or 23% of the world’s ultrahigh-net-worth wealth.
It noted that the 88% of the world’s wealthiest individuals were men and 65% created their own wealth.
The report was based on a survey of 12 countries.
North America and Europe drove growth in the last 12 months, adding some 10,000 individuals for a total increase in wealth of $1.5 trillion.
Because of economic slowdown in the emerging markets, the report said, Brazil and China experienced declines in ultrawealthy population and wealth.