Number of Billionaires Could Soon Rise to 4'000
According to the wealth report by British real estate broker Knight Frank, the number of people with more than one billion dollar is set to continue increasing.
Knight Frank’s Wealth Report estimates that the number of ultra-high-net-worth individuals (UHNWI) worldwide could rise to nearly 4,000 by 2031. They are able to grow their wealth at an ever faster pace, the report states.
According to the broker’s analysis, there are currently 3,110 dollar billionaires globally. This figure is expected to increase by 25 percent over the next five years, bringing the total to 3,915.
The group of multimillionaires is also growing rapidly: the number of people worldwide with assets of at least 30 million dollar has risen from 162,191 in 2021 to 713,626 today—an increase of more than 300 percent, the report adds.
Gains from the Tech Sector
Liam Bailey, Head of Research at the real estate broker, said that the wealth of billionaires and millionaires has been «massively boosted» by gains in the technology sector, particularly in artificial intelligence.
«The opportunities to scale a business have never been greater,» he said. «This has helped enable the rapid creation of large fortunes, further amplified by technology and AI.»
The study expects the number of billionaires in Saudi Arabia to grow the fastest: it is projected to more than double from 23 in 2026 to 65 by 2031. In Poland, the number is also expected to more than double over the same period, from 13 to 29, while Sweden is forecast to see an increase of 81 percent, from 32 to 58.
Inequality on the Rise
The gap between the world’s richest and poorest continues to widen. According to the latest World Inequality Report, fewer than 60,000 people—0,001 percent of the global population—own three times as much wealth as the entire bottom half of humanity.
