Meanwhile, the Middle East and Africa saw a rise of 7.4% and now accounts for 5.5% of the global UHNW population. Latin America and the Caribbean also saw an increase in their ultra-wealthy population by 5.1%
The World Ultra Wealth Report published by Altrata and using WealthX data, also revealed that combined net worth among the UHNW population fell by 11% to $41.8trn.
More women were in the cohort in the first half of 2022 but taking only an 11% share of the total.
Looking at the assets owned by UHNW people globally, women are more likely to own luxury watches, jewellery, and high-end art. Men are more likely to own jets and yachts.
UHNW cities
The data reveals that Hong Kong slightly extended its lead over second place New York as the city with the highest UHNW population, although both recorded declines.
