According to Knight Frank’s 16th edition of The Wealth Report 2022, the number of ultra-high-net-worth-individuals (UHNWIs) globally increased by 9.3 percent in 2021 to 6,10,569, from 5,58,828 in 2020. India ranked 3rd in billionaire population globally. United States (US) Tops with most billionaire.
- In India, the number of UHNWIs (net assets with US$ 30m or more) has grown by 11% year-on-year (YoY) in 2021, the highest percentage growth in Asia-Pacific (APAC).
- Objective of World Wealth Report 2022 – To provide an annual assessment of how wealth creation is shaping investment markets, and to highlight opportunities and risks.
The Wealth Report 2022:
i.India – India ranked 3rd in billionaire population globally in 2021with equity markets and digital adoption as the key factors driving the growth in India.
- Around 69 percent of the super wealthy individuals in India are expected to witness an increase of over 10 percent in their net worth in 2022.
- Amongst the Indian cities, Bengaluru witnessed the highest growth in the number of UHNWIs with 17.1 percent to 352 followed by Delhi with 12.4 percent to 210 and Mumbai with 9 percent to 1596 in 2021.
ii.Globally – Every region across the world saw an increase in the number of UHNWIs between 2020 and 2021 – Americas (+12.2%), Russia & CIS (+11.2%), Australasia (+9.8%), Middle East (+8.8%), Latin America (+7.6%), Europe (+7.4%) and Asia (+7.2%) – except for Africa, where the UHNWI population declined by 0.8%.
- Asia continues to be ahead of other regions of the world, the billionaires’ club contributing to 36 percent of the total billionaires in the world in 2021.
From the Report:
Countries with most number of billionaires:
| Countries | 2021 (actual numbers) | 2020-2021 (percentage) |
|---|---|---|
| United States (US) | 748 | 15% |
| Chinese Mainland | 554 | 32% |
| India | 145 | 24% |
| Germany | 136 | 14% |
| Russia | 121 | 20 % |
Growth & Decline in UHNWI population:
(Growth):
| Country | 2020-2021 (percentage Growth) |
|---|---|
| United States | 12.6 % |
| United Kingdom | 11.3% |
| France | 9.9% |
| Japan | 8.4% |
| Chinese Mainland | 6.2% |
(Decline):
| Country | 2020-2021 (percentage decline) |
|---|---|
| Malaysia | -0.4% |
| Vietnam | -1.0% |
| Tanzania | -1.6% |
| Kenya | -2% |
| South Africa | -7.1% |
Top 3 Indian Cities With Highest UNHWIs:
| Indian Cities | No.of UNHWIs in 2021 |
| Mumbai | 1596 |
| Hyderabad | 467 |
| Pune | 360 |
New category of The Wealth Report 2022:
i.For the 1st time, Knight Frank has examined the size of the ‘next generation’ of the world’s UHNWI population which is estimated that 135,192 UHNWIs are self-made and under the age of 40, accounting for around a fifth of the total UHNWI population.
ii.With the increase in population over the next 5 years, the global UHNWIs population will grow by 28 %, with Asia and Australasia (+33% each) North America (+28%) and Latin America (+26%).
- India has ranked 6th in percentage growth of the UHNWI population that is self-made and under the age of 40 years.
Size of next generation in India:
i.In India, the UHNWI population is expected to grow by 39 percent between 2021 and 2026, with 19,006 people expecting to have net assets of USD 30 million or more by 2026.
- Bengaluru is projected to witness an increase of 89 percent of the UHNWI population and become home to 665 ultra-wealthy individuals by 2026.
ii.Previous estimates – In the last 5 years, Delhi has witnessed an increase of 101.2% followed by Mumbai (+42.6%) and Bengaluru (+22.7%).
Recent related news:
According to the Interim Edition of Global Wealth Report 2020 released by Credit Suisse – the overall wealth of India’s super-rich decreased by 4.4% to USD 12.83 trillion in 2020 due to the fall in Rupee value.
About Knight Frank:
Senior Partner & Group Chairman- Alistair Elliott
Managing Director (MD), Asia Pacific – Kevin Coppel
Headquarters- London, United Kingdom.
