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In 2022, the world’s 21.7 million high net worth individuals (HNWI) held $83 trillion in financial wealth, according to the Capgemini Wealth Management Report 2023. This translates to roughly 22 million people having more financial wealth than the gross domestic product (GDP) calculated for purchasing power parity of the five biggest economies, or almost triple the size of the PPP GDP of the United States. As this week’s Racing Bars show, the rise of emerging economies like China and India since the turn of the century has contributed to a large increase of millionaires in the Asia-Pacific region. 22 years ago, only 1.6 million individuals with a net worth of more than $1 million lived in said region, while Europe was at the forefront of the six world regions as categorized by Capgemini. After the global financial crisis of 2008 and a corresponding dip in HNWIs, North America and the Asia-Pacific region outpaced Europe in terms of HNWI growth. Africa, on the other hand, showed almost no growth in this sector, with HNWIs increasing from around 100,000 to 200,000 between 2000 and 2022. As disaggregated data about financial wealth at the individual level is hard to come by the figure of 22 million can only be seen as an estimate. This uncertainty about the exact number of HNWIs is reflected by sources utilizing different modelling and methodologies and sometimes coming to wildly different conclusions. UBS, one of Europe’s leading banking institutions, claims that the U.S. alone boasted around 22 millionaires in 2022, while the tally of a similar report from Henley & Partners reached only 5.3 million people in the U.S. with net worth of more than $1 million. Since three out of four reports analysed by Statista fall into a broadly similar range of between 15 and 22 million, the Capgemini numbers providing the most robust data for the longest period were used for this racing bar. Follow us on Youtube: @statista Follow us on IG: More info available on our website:
