Over ** million individuals residing in the United States belonged to the global top one percent of ultra-high net worth individuals worldwide in 2022. China ranked second, with over **** million top one percent wealth holders globally. France followed in third.

Graph and download economic data for Share of Net Worth Held by the Top 1% (99th to 100th Wealth Percentiles) (WFRBST01134) from Q3 1989 to Q1 2025 about net worth, wealth, percentile, Net, and USA.

In 2023, roughly 1.49 billion adults worldwide had a net worth of less than 10,000 U.S. dollars. By comparison, 58 million adults had a net worth of more than one million U.S. dollars in the same year. Wealth distribution The distribution of wealth is an indicator of economic inequality. The United Nations says that wealth includes the sum of natural, human, and physical assets. Wealth is not synonymous with income, however, because having a large income can be depleted if one has significant expenses. In 2023, nearly 1,700 billionaires had a total wealth between one to two billion U.S. dollars. Wealth worldwide China had the highest number of billionaires in 2023, with the United States following behind. That same year, New York had the most billionaires worldwide.

With a net worth of 342 billion U.S. dollars, Elon Musk, the cofounder of seven companies, such as electric car maker Tesla and the rocket producer SpaceX, was the wealthiest man in the world in March 2025. The wealthiest people in the world Marc Zuckerberg, the cofounder of Meta Platforms, came second with a wealth of 235.6 billion U.S. dollars. Amazon-founder Jeff Bezos followed in third. All the 10 richest people in the world were men. Wealth distribution worldwide As of 2022, one percent of people held nearly half of the world's combined wealth. Moreover, 2.8 billion of the world's population hold a combined wealth of less than 10,000 U.S. dollars, compared to 59 million people having a combined wealth of 1 billion dollars or more, underlining the vast inequalities around the world. Where do the most affluent people live? Most millionaires live in the United States, while Hong Konk was the city hosting the largest number of high net worth individuals worldwide. The country with the highest number of billionaires is China.

Graph and download economic data for Minimum Wealth Cutoff for the Top 0.1% (99.9th to 100th Wealth Percentiles) (WFRBLTP1311) from Q3 1989 to Q3 2022 about wealth, percentile, and USA.

In the first quarter of 2024, almost two-thirds percent of the total wealth in the United States was owned by the top 10 percent of earners. In comparison, the lowest 50 percent of earners only owned 2.5 percent of the total wealth. Income inequality in the U.S. Despite the idea that the United States is a country where hard work and pulling yourself up by your bootstraps will inevitably lead to success, this is often not the case. In 2023, 7.4 percent of U.S. households had an annual income under 15,000 U.S. dollars. With such a small percentage of people in the United States owning such a vast majority of the country’s wealth, the gap between the rich and poor in America remains stark. The top one percent The United States follows closely behind China as the country with the most billionaires in the world. Elon Musk alone held around 219 billion U.S. dollars in 2022. Over the past 50 years, the CEO-to-worker compensation ratio has exploded, causing the gap between rich and poor to grow, with some economists theorizing that this gap is the largest it has been since right before the Great Depression.

Graph and download economic data for Net Worth Held by the Bottom 50% (1st to 50th Wealth Percentiles) (WFRBLB50107) from Q3 1989 to Q1 2025 about net worth, wealth, percentile, Net, and USA.

According to the Hurun Global Rich List 2025, the United States housed the highest number of billionaires worldwide in 2025. In detail, there were *** billionaires living in the United States as of January that year. By comparison, *** billionaires resided in China. India, the United Kingdom, and Germany were also the homes of a significant number of billionaires that year. United States has regained its first place As the founder and exporter of consumer capitalism, it is no surprise that the United States is home to a large number of billionaires. Although China had briefly overtaken the U.S. in recent years, the United States has reclaimed its position as the country with the most billionaires in the world. Moreover, North America leads the way in terms of the highest number of ultra high net worth individuals – those with a net worth of more than ***** million U.S. dollars. The prominence of Europe and North America is a reflection of the higher degree of economic development in those states. However, this may also change as China and other emerging economies continue developing. Female billionaires Moreover, the small proportion of female billionaires does little to counter critics claiming the global economy is dominated by an elite comprised mainly of men. On the list of the 20 richest people in the world, only one was a woman. Moreover, recent political discourse has put a great amount of attention on the wealth held by the super-rich with the wealth distribution of the global population being heavily unequal.

In 2023, Switzerland led the ranking of countries with the highest average wealth per adult, with approximately ******* U.S. dollars per person. Luxembourg was ranked second with an average wealth of around ******* U.S. dollars per adult, followed by Hong Kong SAR. However, the figures do not show the actual distribution of wealth. The Gini index shows wealth disparities in countries worldwide. Does wealth guarantee a longer life? As the old adage goes, “money can’t buy you happiness”, yet wealth and income are continuously correlated to the quality of life of individuals in different countries around the world. While greater levels of wealth may not guarantee a higher quality of life, it certainly increases an individual’s chances of having a longer one. Although they do not show the whole picture, life expectancy at birth is higher in the wealthier world regions. Does money bring happiness? A number of the world’s happiest nations also feature in the list of those countries for which average income was highest. Finland, however, which was the happiest country worldwide in 2022, is missing from the list of the top twenty countries with the highest wealth per adult. As such, the explanation for this may be the fact that the larger proportion of the population has access to a high income relative to global levels. Measures of quality of life Criticism of the use of income or wealth as a proxy for quality of life led to the creation of the United Nations’ Human Development Index. Although income is included within the index, it also has other factors taken into account, such as health and education. As such, the countries with the highest human development index can be correlated to those with the highest income levels. That said, none of the above measures seek to assess the physical and mental environmental impact of a high quality of life sourced through high incomes. The happy planet index demonstrates that the inclusion of experienced well-being and ecological footprint in place of income and other proxies for quality of life results in many of the world’s materially poorer nations being included in the happiest.

Data and insights on Wealth Distribution in India - share of wealth, average wealth, HNIs, wealth inequality GINI, and comparison with global peers.

Korea Median: AH: 1 Net Worth Quintile: Net Worth data was reported at 10,700,000.000 KRW in 2017. This records an increase from the previous number of 10,400,000.000 KRW for 2016. Korea Median: AH: 1 Net Worth Quintile: Net Worth data is updated yearly, averaging 9,810,000.000 KRW from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 10,700,000.000 KRW in 2017 and a record low of 6,430,000.000 KRW in 2010. Korea Median: AH: 1 Net Worth Quintile: Net Worth data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H083: SHFLC: Household Assets, Liabilities & Income By Net Worth Quintiles.

In 2020, Italy counted approximately *** million individuals boasting a wealth worth over one million U.S. dollars. Individuals in this wealth bracket are forecasted to reach nearly two million in 2025, an increase of approximately ** percent compared to 2020. When compared to other Western European countries, the number of individuals worth over five million U.S. dollars is less impressive. France, for example, counted about *** million individuals in that wealth bracket in 2019.

Wealthiest individuals in Italy

In 2019, Giovanni Ferrero, the CEO of the Italian confectionary company Ferrero S.p.A., lead the ranking of the wealthiest individuals in Italy published yearly by Forbes. With a total net worth estimated at **** billion U.S. dollars, Ferrero overshadowed Leonardo Del Vecchio, founder of Luxottica, whose fortune amounted to **** U.S. dollars.

Wealthiest individuals in the world

According to the Forbes’ ranking, in 2019, Giovanni Ferrero was the **** wealthiest person in the world and Leonardo Del Vecchio ranked **** in the list. Despite their massive fortune, no one can compete with Jeff Bezos. For the second year in a row, the founder of Amazon dominated the Forbes’ ranking: his wealth was estimated at over *** billion dollars in 2019.

Korea Average: HPL: 1 Net Worth Quintile: Other Than Non-Financial Assets data was reported at 5,840,000.000 KRW in 2017. This records an increase from the previous number of 5,510,000.000 KRW for 2016. Korea Average: HPL: 1 Net Worth Quintile: Other Than Non-Financial Assets data is updated yearly, averaging 4,755,000.000 KRW from Mar 2010 to 2017, with 8 observations. The data reached an all-time high of 5,840,000.000 KRW in 2017 and a record low of 2,570,000.000 KRW in 2010. Korea Average: HPL: 1 Net Worth Quintile: Other Than Non-Financial Assets data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H083: SHFLC: Household Assets, Liabilities & Income By Net Worth Quintiles.

In Europe, the variation in average amounts of financial wealth per adult varied considerably as of 2022, from approximately ******* U.S. dollars in Switzerland to roughly ***** U.S. dollars in Azerbaijan. In Europe, the overall average financial wealth per adult as of 2022 was ****** U.S. dollars. In terms of private wealth, Europe held the second highest value in the world, after North America. What is financial wealth? Financial wealth, also known as financial assets or liquid assets can include wealth that an individual has in the forms of cash, stocks, bonds, mutual funds, and bank deposits. In addition to financial wealth, wealth can also be measured in other assets, called non-financial wealth. This includes physical assets, such as real estate, land, vehicles, jewelry, and art, just to name a few. Where do most wealthy individuals live? Individuals with a net worth over *********** U.S. dollars are called high-net worth individuals (HNWI). The United States was the home country to the highest number of HNWIs in 2021. China followed, although their number of HNWIs did not even reach ********* of the number in the United States. In Europe, Switzerland is the country with the highest average financial wealth per adult, but with its small population size, the number of HNWIs does not come near the numbers in the United Kingdom, Germany, France, and Italy – the European countries with the highest number of HNWIs. Considering Switzerland’s small population size, however, it is the country in the world with the highest proportion of millionaires.

Korea Median: AH: 1 Net Worth Quintile: Savings data was reported at 3,110,000.000 KRW in 2017. This records an increase from the previous number of 2,700,000.000 KRW for 2016. Korea Median: AH: 1 Net Worth Quintile: Savings data is updated yearly, averaging 2,850,000.000 KRW from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 3,110,000.000 KRW in 2017 and a record low of 1,750,000.000 KRW in 2010. Korea Median: AH: 1 Net Worth Quintile: Savings data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H083: SHFLC: Household Assets, Liabilities & Income By Net Worth Quintiles.

Korea Average: AH: 1 Net Worth Quintile: Receiving Money From A Lease data was reported at 1,310,000.000 KRW in 2017. This records a decrease from the previous number of 1,830,000.000 KRW for 2016. Korea Average: AH: 1 Net Worth Quintile: Receiving Money From A Lease data is updated yearly, averaging 1,280,000.000 KRW from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 1,920,000.000 KRW in 2015 and a record low of 870,000.000 KRW in 2012. Korea Average: AH: 1 Net Worth Quintile: Receiving Money From A Lease data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H083: SHFLC: Household Assets, Liabilities & Income By Net Worth Quintiles.

Wealth Management Services Market Outlook

The global wealth management services market size was valued at approximately $1.5 trillion in 2023 and is projected to reach around $2.5 trillion by 2032, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period. This remarkable growth can be attributed to several factors, including the rising number of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs), increased adoption of digital platforms, and the growing complexity of financial planning needs.

One of the primary growth drivers for the wealth management services market is the increasing number of HNWIs and UHNWIs globally. According to recent reports, the number of HNWIs continues to grow, particularly in emerging markets like Asia-Pacific and Latin America. This expanding affluent demographic is driving demand for sophisticated financial planning and investment management services. Additionally, the intergenerational transfer of wealth is creating new opportunities for wealth managers to cater to younger, tech-savvy clients who are inheriting significant assets.

Another significant factor contributing to the market's growth is the rising complexity of financial planning needs. As global financial markets become more intricate and interconnected, individuals and families require more comprehensive and tailored financial advice. Wealth management services encompass a broad range of offerings, including tax planning, estate planning, retirement planning, and investment management, all of which are becoming increasingly crucial in today's financial landscape. This complexity is encouraging more people to seek professional advice, thereby driving growth in the wealth management sector.

The integration of digital technologies into wealth management is also a key growth driver. The adoption of advanced analytics, artificial intelligence (AI), and digital platforms has revolutionized the way wealth management services are delivered. These technologies enable wealth managers to offer more personalized and efficient services, improve client engagement, and reduce operational costs. The rise of robo-advisors, for instance, is democratizing access to wealth management services, making them more accessible to mass affluent and younger investors who prefer digital-first solutions.

Custody And Trust Services play a pivotal role in the wealth management ecosystem, providing essential support for the safekeeping and administration of assets. These services are particularly important for high-net-worth individuals and institutional clients who require secure and efficient management of their financial assets. Custody services ensure that assets are held safely and transactions are executed accurately, while trust services offer a structured approach to estate planning and wealth transfer. By leveraging Custody And Trust Services, wealth managers can offer clients peace of mind, knowing their assets are managed with the highest level of fiduciary responsibility. This not only enhances client trust but also allows wealth managers to focus on delivering personalized financial strategies that align with their clients' long-term goals.

From a regional perspective, North America continues to dominate the wealth management services market, thanks to its large population of HNWIs and UHNWIs. However, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period. This growth is driven by rapid economic development, increasing wealth creation, and a burgeoning middle class in countries like China and India. Europe also remains a significant market, with steady growth supported by its well-established financial services industry and high concentration of wealthy individuals.

Service Type Analysis

The wealth management services market is segmented into various service types, including financial planning, investment management, tax planning, estate planning, retirement planning, and others. Each of these service types plays a critical role in helping clients manage and grow their wealth effectively. Financial planning, for example, is fundamental to the wealth management process as it involves creating a comprehensive strategy to achieve financial goals, considering factors like income, expenses, savings, and investments. This service type is particularly in demand due to the increasing complexity of personal finances and the need for tailored advice.

Wealth Management Software Market Outlook

The global wealth management software market size is expected to experience a robust growth trajectory, with a projected compound annual growth rate (CAGR) of 14.27% from 2024 to 2032. In 2023, the market was valued at approximately USD 3.45 billion and is expected to reach a staggering USD 10.83 billion by 2032. This impressive growth is primarily driven by the increasing demand for efficient and automated financial advisory services and portfolio management solutions. As the financial sector becomes increasingly digitized, wealth management software is becoming an indispensable tool for financial advisors and institutions to manage client portfolios and deliver personalized services.

One of the primary growth factors driving the wealth management software market is the ongoing digital transformation in the financial services industry. Financial institutions are increasingly adopting advanced technologies to enhance operational efficiency, improve customer engagement, and reduce operational costs. As clients demand more personalized and data-driven financial advice, wealth management software provides the necessary tools to analyze large volumes of data and generate actionable insights. This digital shift is further accelerated by the growing adoption of artificial intelligence and machine learning technologies, which enable wealth managers to offer more tailored investment strategies and improved risk management solutions. Additionally, the integration of blockchain technology enhances data security, transparency, and trust, making wealth management software even more critical for modern financial service providers.

Another significant factor contributing to the growth of the wealth management software market is the rising global population of high-net-worth individuals (HNWIs) and their increasing financial advisory needs. As the number of HNWIs grows, so does the demand for sophisticated wealth management solutions that can cater to their complex financial profiles. Wealth management software provides a holistic view of clients' financial situations, enabling wealth managers to offer comprehensive advice that encompasses investment strategies, tax planning, estate management, and retirement planning. This demand is particularly evident in emerging markets, where economic growth is creating a new class of affluent individuals seeking professional financial management services.

The wealth management software market also benefits from regulatory changes in the financial services industry. As governments worldwide introduce stricter regulations to protect investors and ensure market stability, financial institutions must comply with a growing number of compliance requirements. Wealth management software helps institutions automate compliance processes, reduce the risk of regulatory breaches, and improve transparency. This compliance automation not only mitigates legal risks but also enhances the reputation of financial institutions, making them more attractive to clients. Moreover, the increasing focus on environmental, social, and governance (ESG) criteria is driving demand for software solutions that can integrate ESG factors into investment decision-making processes, further propelling market growth.

As the wealth management landscape continues to evolve, the role of Robo-Advisory Software is becoming increasingly prominent. This software leverages advanced algorithms and machine learning to provide automated, yet personalized, investment advice to clients. By analyzing vast datasets, robo-advisors can offer tailored recommendations that align with individual risk profiles and financial goals. The integration of robo-advisory solutions within wealth management platforms not only enhances efficiency but also democratizes access to professional financial advice, making it available to a broader audience. This trend is particularly appealing to tech-savvy millennials and digital natives who prefer seamless, technology-driven solutions. As a result, financial institutions are increasingly incorporating robo-advisory capabilities to meet the growing demand for innovative and cost-effective investment strategies.

Regionally, North America is currently the largest market for wealth management software, driven by a mature financial services sector and high technology adoption rates. However, the Asia Pacific region is expected to witness the fastest growth over the forecast period, with a CAGR of 16.2%. This growth is fueled by the rapid economic development in countries such as China an

Goal 10Reduce inequality within and among countriesTarget 10.1: By 2030, progressively achieve and sustain income growth of the bottom 40 per cent of the population at a rate higher than the national averageIndicator 10.1.1: Growth rates of household expenditure or income per capita among the bottom 40 per cent of the population and the total populationSI_HEI_TOTL: Growth rates of household expenditure or income per capita (%)Target 10.2: By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other statusIndicator 10.2.1: Proportion of people living below 50 per cent of median income, by sex, age and persons with disabilitiesSI_POV_50MI: Proportion of people living below 50 percent of median income (%)Target 10.3: Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regardIndicator 10.3.1: Proportion of population reporting having personally felt discriminated against or harassed in the previous 12 months on the basis of a ground of discrimination prohibited under international human rights lawVC_VOV_GDSD: Proportion of population reporting having felt discriminated against, by grounds of discrimination, sex and disability (%)Target 10.4: Adopt policies, especially fiscal, wage and social protection policies, and progressively achieve greater equalityIndicator 10.4.1: Labour share of GDPSL_EMP_GTOTL: Labour share of GDP (%)Indicator 10.4.2: Redistributive impact of fiscal policySI_DST_FISP: Redistributive impact of fiscal policy, Gini index (%)Target 10.5: Improve the regulation and monitoring of global financial markets and institutions and strengthen the implementation of such regulationsIndicator 10.5.1: Financial Soundness IndicatorsFI_FSI_FSANL: Non-performing loans to total gross loans (%)FI_FSI_FSERA: Return on assets (%)FI_FSI_FSKA: Regulatory capital to assets (%)FI_FSI_FSKNL: Non-performing loans net of provisions to capital (%)FI_FSI_FSKRTC: Regulatory Tier 1 capital to risk-weighted assets (%)FI_FSI_FSLS: Liquid assets to short term liabilities (%)FI_FSI_FSSNO: Net open position in foreign exchange to capital (%)Target 10.6: Ensure enhanced representation and voice for developing countries in decision-making in global international economic and financial institutions in order to deliver more effective, credible, accountable and legitimate institutionsIndicator 10.6.1: Proportion of members and voting rights of developing countries in international organizationsSG_INT_MBRDEV: Proportion of members of developing countries in international organizations, by organization (%)SG_INT_VRTDEV: Proportion of voting rights of developing countries in international organizations, by organization (%)Target 10.7: Facilitate orderly, safe, regular and responsible migration and mobility of people, including through the implementation of planned and well-managed migration policiesIndicator 10.7.1: Recruitment cost borne by employee as a proportion of monthly income earned in country of destinationIndicator 10.7.2: Number of countries with migration policies that facilitate orderly, safe, regular and responsible migration and mobility of peopleSG_CPA_MIGRP: Proportion of countries with migration policies to facilitate orderly, safe, regular and responsible migration and mobility of people, by policy domain (%)SG_CPA_MIGRS: Countries with migration policies to facilitate orderly, safe, regular and responsible migration and mobility of people, by policy domain (1 = Requires further progress; 2 = Partially meets; 3 = Meets; 4 = Fully meets)Indicator 10.7.3: Number of people who died or disappeared in the process of migration towards an international destinationiSM_DTH_MIGR: Total deaths and disappearances recorded during migration (number)Indicator 10.7.4: Proportion of the population who are refugees, by country of originSM_POP_REFG_OR: Number of refugees per 100,000 population, by country of origin (per 100,000 population)Target 10.a: Implement the principle of special and differential treatment for developing countries, in particular least developed countries, in accordance with World Trade Organization agreementsIndicator 10.a.1: Proportion of tariff lines applied to imports from least developed countries and developing countries with zero-tariffTM_TRF_ZERO: Proportion of tariff lines applied to imports with zero-tariff (%)Target 10.b: Encourage official development assistance and financial flows, including foreign direct investment, to States where the need is greatest, in particular least developed countries, African countries, small island developing States and landlocked developing countries, in accordance with their national plans and programmesIndicator 10.b.1: Total resource flows for development, by recipient and donor countries and type of flow (e.g. official development assistance, foreign direct investment and other flows)DC_TRF_TOTDL: Total assistance for development, by donor countries (millions of current United States dollars)DC_TRF_TOTL: Total assistance for development, by recipient countries (millions of current United States dollars)DC_TRF_TFDV: Total resource flows for development, by recipient and donor countries (millions of current United States dollars)Target 10.c: By 2030, reduce to less than 3 per cent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 per centIndicator 10.c.1: Remittance costs as a proportion of the amount remittedSI_RMT_COST: Remittance costs as a proportion of the amount remitted (%)SI_RMT_COST_BC: Corridor remittance costs as a proportion of the amount remitted (%)SI_RMT_COST_SC: SmaRT corridor remittance costs as a proportion of the amount remitted (%)

Between December 2019 and 2021, the top one percent of earners accumulated 63 percent of all new wealth worldwide. This is more than six times more wealth than accumulated by the bottom 90 percent over the same time period.

Global wealth distribution Newly generated wealth landing in the hands of the few is not a new story and has been the focus of international development policy for many years. Looking at a regional level, Latin America was the region with the starkest distribution of wealth. In this region, 77 percent of the wealth was held by the richest 10 percent in 2021, and only 0.5 percent held by the poorest 50 percent. At an individual level, around 2.82 billion adults worldwide had a net worth of less than 10,000 U.S. dollars in 2021.

Billionaires In 2021, the highest concentration of billionaires could be found in North America. However, China had the largest number of billionaires in its population in 2022, with most living in Beijing. Looking at wealth distribution amongst billionaires themselves, 20 people had fortunes of 50 billion U.S. dollars or more, but the majority of billionaires had a personal fortune between two and five billion U.S. dollars.

In December 2022, Elon Musk slipped from the top spot of richest people on Earth. The number one spot was taken by French magnate, Bernard Arnault of Moët Hennessy Louis Vuitton.