The world's ultra-rich lost about $14 trillion of their wealth in 2022, Knight Frank study shows

• The world's ultra-rich lost 13.6%, or $13.8 trillion, of their wealth in 2022, per a Knight Frank report.
• The Ukraine war, the energy crisis, and interest rate hikes hit investment portfolios.
• Just four in 10 ultra-wealthy people saw their wealth rise in 2022, the report says.

Even the ultra-rich had a bad 2022 — it's not surprising, given the fallout from the Ukraine war, the energy crisis, and the Fed's rate hikes hitting their investment portfolios.