According to a new report by Altrata, 556,850 people worldwide had a net worth exceeding $30 million by the end of 2025. The combined wealth of ultrahigh-net-worth individuals (UHNW) reached $63.8 trillion, another historic high. Altrata attributes much of the increase to an investment boom around artificial intelligence, strong equity markets and rising valuations in the technology sector.
The report notes that the UHNW group's combined assets are more than twice the size of the United States' annual GDP: $63,800,000,000,000. Over the past two years the number of the extremely wealthy rose by nearly 30 percent, adding over 120,000 new members to the elite. Over a twenty-year horizon their numbers have grown 255 percent, seven times the growth rate of the global adult population.
What fueled the wealth gains?
Altrata points to several factors behind the record growth. The most important was the wave of investment into artificial intelligence, which materially increased valuations for technology companies. Favorable equity markets, falling inflation and a relatively stable economic backdrop also contributed to wealth accumulation. Because gains from financial markets and technological innovation tend to accrue to those who already hold substantial investment capital, the trend has amplified wealth concentration.
Geographic distribution: America still leads, Asia catching up quickly
Geographically, the United States remains dominant: 37 percent of the UHNW population lives in the U.S., which alone contains more ultrarich individuals than many of the countries ranked below combined. Major technology and financial centers therefore continue to play an outsized role in global wealth creation. The report lists the top cities for the richest as New York, Hong Kong, Los Angeles and San Francisco.
At the same time, the fastest growth is increasingly concentrated in Asia: the region’s UHNW population expanded at double-digit rates last year, and forecasts indicate Asia could approach North America in UHNW numbers by 2030. India stands out due to rapid economic growth, an expanding technology sector and rising entrepreneurial activity. Altrata projects new wealth hubs to emerge, with Delhi becoming the fastest-growing UHNW city through 2030, followed by Stockholm and Wuhan.
Intergenerational transfer and outlook
Altrata also highlights an impending intergenerational shift: most ultrarich individuals today belong to the baby boomer generation, but an unprecedented wealth transfer is expected in the coming years. The report estimates that roughly $31 trillion will pass to younger generations by 2033. This transfer could reshape ownership patterns and investment behavior, as X-, Y- and Z-generation wealth holders typically show greater interest in technology investments, venture capital and alternative assets than their predecessors.
Under Altrata’s baseline forecast, the UHNW population could reach 746,570 individuals by 2030, with combined wealth exceeding $85 trillion. Although women currently represent a minority among the ultrarich—about 12 percent—their share is rising and is projected to reach 19 percent by 2040.
Why this matters
The Altrata data indicate that global wealth is becoming increasingly concentrated among the ultrarich, and that continued gains from AI-related investments and the technology sector may accelerate this trend. The pace and distribution of wealth gains influence investment directions, market liquidity and, over the longer term, income and wealth inequality.
