Altrata: Billionaire Growth in Asia Lags Peers Again
For the third consecutive year, Asia was outpaced by regional peers in the growth of its billionaire population, according to a report by Altrata.
The total net worth of billionaires grew 10.3 percent to $13.4 trillion in 2024, according to the 12th edition of wealth intelligence firm Altrata's Billionaire Census 2025. The billionaire population also increased 5.6 percent to reach a record high of 3,508.
North America maintained the throne as the regional leader with billionaire wealth surging 16.8 percent to $5.4 trillion, while the population of this class rose 7.8 percent to 1,198 individuals.
Over the last 10 years, billionaires whose wealth was tied to technology or the hospitality and entertainment sector have experienced the strongest gains in net worth.
Slowing Region
In contrast, Asia lost share to other regions for the third consecutive year with its billionaire wealth (7.9 percent increase to $2.8 trillion) and population (2.6 percent increase to 827) both growing below the average global rate.
According to the report, wealth holdings rose firmly in Hong Kong and Singapore but this was contrasted by a weaker trend in India as well as China due to a structural slowdown in the economy and a trade war with the US. Japan saw a boost from a hawkish central bank and ongoing governance reforms, though this was offset by yen volatility and trade headwinds.
The report was based on Altrata’s proprietary Wealth-X Database, which includes curated research and intelligence on the wealthy with insights into financial profiles, career history, known associates, affiliations, family background, education, philanthropic endeavors and more. Its valuation model of net worth assesses all asset holdings, including privately and publicly held businesses and investable assets, with the primary business address as the determinant of a billionaire’s location.
