The global ultra-high-net-worth population, comprising individuals with a net worth of more than $30 million, rounded out at 510,810 at the end of June, up by 5.4% from the beginning of the year, Altrata reported last week. This followed a 12% expansion in 2024, the third-strongest growth in the past decade.
The ultra-rich class’s total net worth climbed by 6.7% to $59.8 trillion at the end of the first half of 2025.
The U.S. ultra-wealthy population surged by 21% in 2024 and by 6.5% in the first half of last year, a faster pace than in second-ranked China. In the top-ranked global cities, the rich population also grew strongly in 2024, then slowed somewhat in the first half of 2025.
By 2040, Altrata’s research indicates, Generation Z and millennials will make up nearly 35% of the global ultra-wealthy population, up from just 8% today, and Gen Xers will account for 45%, up from the current 25%.
During the same period, the combined share of rich baby boomers and older folks will trend downward from 67% to 20%.
North America remains the most popular region for ultra-wealthy residents. Its UHNW population increased by 6.2% in the first half of 2025 to 208,090 individuals, raising its share of the global rich class to a record 41%, some 8 percentage points higher than a decade ago. The UHNW population in Asia, the second-biggest region, expanded by 6.4% in the first half to 129,100 individuals.
Altrata forecasts that the global ultra-wealthy population will total 676,970 individuals by 2030, an increase of 166,160 from mid-2025. Asia is expected to register the strongest growth, but North America will remain the largest ultra-wealthy population center by far, it said.
India will stand out with four of the top 10 growth cities, including Bengaluru, Mumbai, Hyderabad and Delhi. Among U.S. states, Florida, Utah and Texas are set to experience the fastest growth in ultra-wealthy populations.
The report noted that the transformative effect of rapid digital innovation and adoption is evident in the growing share of technology as a main industry focus among ultra-wealthy Gen Zers and millennials, accounting for 9%. Moreover, the explosion of social media platforms is driving wealth creation in other sectors, such as hospitality and entertainment, which together account for 15%.
Altrata’s report leverages two of the firm’s products: the Wealth-X Database, a collection of curated research and intelligence on the wealthy, and RelSci’s Relationship Mapping Database, which covers 10 million influential individuals and 2 million organizations. To profile and size the ultra-wealthy market, researchers use the Wealth-X Database and the firm’s Wealth and Investable Assets Model, respectively.
The top 10 cities are home to 19% of the world’s ultra-wealthy population, according to the report. The distribution of ultra wealth at the city level has evolved over the past decade, shaped by socioeconomic trends, the globalization of business and technology, and the rich class’ increasing mobility.
See the accompanying gallery for the top 10 global cities for ultra wealth, according to Altrata.
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