The global billionaire population is expected to jump 25 percent to 3,915 over the next five years, with Asia Pacific to house the most billionaires, Knight Frank said.
North America currently accounts for nearly a third of the world's billionaires, but Asia Pacific is poised to overtake the region in 2031, claiming 37.5 percent of the global total, according to Knight Frank's The Wealth Report 2026.
The study also found that the number of billionaires in Saudi Arabia is set to more than double, jumping from 23 to 65. while that of Poland is poised to grow from 13 to 29, representing a twofold increase.
Multimillionaires also saw a robust growth, with the number of people who own assets of at least US$30 million (HK$235.1 million) rising from 162,191 in 2021 to 713,626 in 2026, up more than 3 times.
Hong Kong's wealthy population, who have over US$30 million in assets, is forecast to grow by 25 percent over the next five years, ranking 19th globally, the report said.
Liam Bailey, Head of Research at Knight Frank, said that the fortunes of the ultra-high net worth individuals have been significantly propelled by the tech boom, particularly in artificial intelligence.
"The opportunities to scale a business have never been greater," he said, adding that "This has helped enable the rapid creation of large fortunes, further amplified by technology and AI."
𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓
