Almost 630,000 people worldwide are now worth at least $30 million, Knight Frank says

Wed, 02/28/2024 - 12:21

private yacht — The ranks of the super-rich increased last year, says Knight Frank.
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Knight Frank's new wealth report shows that about 70 people a day became uber-rich last year.
The total number of people worth at least $30 million rose by 4.2% to about 627,000 worldwide.
The roaring US stock market and economy helped fuel the increase, but some luxury assets lost value.

Almost 70 people a day joined the ranks of the uber-wealthy last year, Knight Frank has revealed.

The newly minted members boosted the worldwide number of ultra-high-net-worth individuals (UHNWIs) by 4.2% to about 627,000, the real estate group said in its latest Wealth Report released on Wednesday.

A net worth of at least $30 million is required to be classed as a UHNWI. However, it only takes $5.8 million to rank in the top 1% of wealthy Americans, Knight Frank said.