World adds 89 ultra-rich people a day despite market uncertainty

Dubai: Global wealth creation has accelerated despite geopolitical uncertainty, higher interest-rate concerns and uneven economic growth, with 89 new ultra-high-net-worth individuals created every day over the past five years, according to Knight Frank’s Wealth Report 2026.

The 20th edition of the report shows the global population of ultra-high-net-worth individuals, defined as people with net assets of at least $30 million, rose by 162,191 between 2021 and 2026. That lifted the worldwide total from 551,435 to 713,626.

The increase points to a deeper reshaping of global private wealth, with the US remaining the dominant engine of wealth creation while India, Saudi Arabia, Indonesia, Vietnam and other fast-growing markets gain ground.

US remains the wealth engine

The US created 41% of all new ultra-high-net-worth individuals between 2021 and 2026, increasing its share of the global ultra-rich population from 33% to 35%.

Asia-Pacific continues to hold a major position in global wealth, accounting for nearly 31% of ultra-high-net-worth individuals. China remains the world’s second-largest wealth hub, while the region also has the largest share of the global billionaire population.

Knight Frank said the global billionaire population reached 3,110 in 2026, reflecting the continued concentration of private capital even during a period marked by inflationary pressure and policy uncertainty.

India, Saudi Arabia gain ground

India recorded 63% growth in its ultra-high-net-worth population between 2021 and 2026, with a further 27% expansion forecast by 2031.

The fastest growth over the next five years is expected to come from Indonesia, where the ultra-wealthy population is projected to rise 82%. Saudi Arabia and Poland are both forecast to grow 63%, while Vietnam is expected to expand 59%.

Australia’s ultra-high-net-worth population is forecast to rise nearly 60% by 2031, a trend Knight Frank linked to deep economic diversification.

The Middle East also increased its share of global ultra-high-net-worth individuals, rising from 2.4% to 3.1% between 2021 and 2026. The region is expected to maintain that share through 2031.

Liam Bailey, global head of research at Knight Frank, said the findings show a major change in how global wealth is being created and distributed.

“We are witnessing one of the most significant shifts in global wealth distribution in modern history. The US remains the dominant engine, but we are also seeing rising strength from India and a cohort of fast-maturing economies that are now shaping the global landscape. Despite huge geopolitical shocks and inflationary pressures, private capital has shown extraordinary resilience. Our latest results reflect a deep structural acceleration in wealth creation worldwide.”

The report also points to a more selective pattern of capital movement, with wealth increasingly concentrating in cities that offer opportunity, predictability and access.

“Political volatility, tax reform and heavier regulatory friction mean capital is concentrating into a smaller group of cities that offer both opportunity and predictability. In this new landscape, the most sophisticated families are diversifying across multiple hubs, often maintaining strategic footholds in London, New York, Dubai and Singapore to balance opportunity, security and access,” Bailey said.

Ultra-wealthy become more mobile

Rory Penn, chair of the Private Office at Knight Frank, said wealth creation is rising at a time when the global investment backdrop has become harder to navigate.

“What we are seeing on the ground is that wealth creation is rising against a more complex global economic backdrop. The ultra-wealthy are becoming markedly more mobile, yet the list of markets where they feel genuinely comfortable investing or basing their families has narrowed.”