2023-09-13-Altrata-2023年世界超级财富报告（英文）_28页_4mb

World Ultra Wealth Report 2023 Summary

Core Content

The World Ultra Wealth Report 2023 provides a comprehensive overview of the global ultra high net worth (UHNW) population and their wealth dynamics in 2022, along with forecasts for the next five years. The report is published by Altrata, with insights powered by Wealth-X data, and highlights the shifting trends in wealth distribution, regional performance, and the characteristics of UHNW individuals.

Main Points

Global UHNW Population and Wealth

• In 2022, the global UHNW population fell by 5.4% to 395,070 individuals, marking the first annual decline since 2018 and the largest contraction since 2015.
• Combined net worth of the UHNW population declined by 5.5% to $45.4 trillion, the second-largest annual drop in the past decade.
• The UHNW class is expected to grow to 528,100 individuals and $60.3 trillion in wealth by 2027, with a 133,000 increase in numbers and $14.9 trillion in new wealth creation.

Regional Performance

• Asia experienced the largest decline in UHNW population and wealth, down 11% to 108,370 individuals and 10.6% in total wealth.
• North America saw a 4% drop in UHNW population, but its share of the global UHNW class rose slightly to 36%, outperforming Asia and Europe.
• Middle East recorded a 15.7% increase in UHNW population, driven by commodity price surges and energy revenue gains.
• Latin America and the Caribbean had the strongest growth in UHNW population (17.5%) and wealth (13.8%), aided by improved terms of trade and relatively stable capital markets.
• Pacific and Africa saw moderate declines, with the Pacific down 4.6% and Africa down 4.4%, due to inflationary pressures, currency depreciation, and economic instability.

Leading UHNW Countries and Cities

• The top 10 UHNW countries account for ~75% of the global UHNW population, with India being the only top-10 country to see a 3% increase in UHNW individuals.
• The US remains the largest UHNW market, with a 4% decline in population, but still holds ~36% of the global UHNW class.
• Hong Kong and New York are the top UHNW cities, with ~30,000 individuals each, nearly twice that of London and Los Angeles.
• Singapore saw the strongest growth in UHNW numbers, up 13%, due to its diverse economy, stable business environment, and attractive regulatory framework.
• London, Paris, and Tokyo all experienced significant declines, with currency depreciation, economic pressures, and political instability as key factors.

Key Archetypes of the Ultra Wealthy

UHNW Entrepreneurs

• Represent ~85% of the UHNW population with self-made fortunes.
• Show strong interest in luxury assets and diverse portfolio holdings.

UHNW Executives

• Have the lowest proportion of female representation (8%).
• Dominant in private jet ownership, with 62 out of every 100 UHNW private jet owners.
• Less involved in art collecting compared to entrepreneurs.

UHNW Inheritors

• Have a higher proportion of female representation (nearly 40%).
• Show strong interest in philanthropy, which is the most common interest among all three archetypes.
• Their wealth holdings and personal interests differ significantly from entrepreneurs and executives.

Wealth Distribution Trends

• The ultra wealthy hold 33% of the total wealth of high net worth (HNW) individuals, despite representing only 1.1% of the HNW population.
• Median UHNW wealth is $51 million, while average wealth is $115 million, indicating a large share of the population is in the lower wealth tiers.
• The billionaire class accounts for under 1% of the UHNW population but holds 24% of all ultra wealth.

Methodology and About Altrata

• The report uses Wealth-X's Wealth and Investable Assets Model, which provides detailed and comprehensive data on the UHNW class.
• Altrata is a company that provides wealth insights and business intelligence, with RelSci (another Altrata company) highlighting the strong connections between university deans and vice-deans and the ultra wealthy.
• The methodology section explains how the UHNW population and wealth are measured and forecasted, based on retrospective model inputs.

Summary of Key Trends

• Global wealth markets saw extreme volatility in 2022 due to pandemic recovery, geopolitical tensions, inflation, and monetary tightening.
• Wealth preservation became a priority for many UHNW individuals, especially in technology, new economy, and healthcare sectors.
• Asia is projected to increase its share of UHNW wealth from 27% in 2022 to 29% by 2027, surpassing Europe.
• North America will maintain its dominance as the largest wealth market, with a 36% share in 2027.
• Emerging markets are expected to see moderate growth in UHNW populations and wealth, with Latin America and the Caribbean outperforming Africa and the Pacific.

Conclusion

Despite the volatility of 2022, the global UHNW population and wealth are expected to expand over the next five years, with Asia leading the growth and North America remaining the largest wealth market. The report underscores the diversity of the UHNW class and the distinct characteristics of entrepreneurs, executives, and inheritors. It also highlights the strategic importance of global cities and key wealth markets in the context of economic shifts and regional performance.