Although 2024, for some it was more than for others. Globally, the number of millionaires increased 2.6% in 2024, according to the 2025 world wealth report, Posted on Wednesday by. In this consultant’s report, people are divided with high purchasing power (HNWI) into three categories, depending on the financial assets they possess, since their residences, collection objects or consumer goods are not taken into account. The so -called nearby millionaires are those between 1 and 5 million dollars; Those of medium level, 5 to 30 million, and the Ultra Hnwi exceed 30 million.
This last group, 34%of the rich in the world, is the one that grew the most last year, 6.2%, while the accumulated of its fortunes increased 6.3%. “2024 was a year of concentration of wealth. The UHNWI remained resilient during market volatility, with greater exposure to high growth opportunities, while nearby millionaires focused on safer and more low performance opportunities, such as fixed income and real estate sector,” says the report. The population of nearby millionaires, which represents 43% of the total, grew 2.4% and the total of its fortunes rose a “modest” 2.6%. Between the two groups are the average level millionaires, 23 % of the rich, who “experienced an increase in their wealth and population with respect to the figures of 2023, growing 4.3 % and 4.2 %, respectively.”
By regions, differences are also observed. North America registered the highest profits, with a 7.3% increase in the population with a high net worth. And specifically, the United States stood as a “undisputed leader”, adding 562,000 millionaires, which meant a 7.6% growth in its HNWI population, until reaching 7.9 million, “mainly driven by the continuous profits of stock markets and a favorable interest rate regime”.
On the opposite side is Europe, with 2.1% less rich than in 2023, “due to economic stagnation in the main countries. United Kingdom, France and Germany lost 14,000, 21,000 and 41,000 millionaires, respectively.” However, the population of European Uhnwi rose 3.5%, “reflecting a greater concentration of wealth.” “External factors considerably influenced the performance of European stock markets. The economic difficulties of China and cars, which caused both sectors to close the year with downward results,” reads the report.
There was also a decrease, of 8.5%, among the rich in Latin America, “due to monetary depreciation and fiscal instability”, with Brazil (-13.3%) and Mexico (-13.5%) leading losses. Minor was the decrease (-2.1%) of the HNWI in the Middle East, a situation that the report blames to the decrease in the price of oil. In Asia-Pacific, on the other hand, the number of rich increased by 2.7%, with India and Japan registering both a growth of 5.6%, while Chinese millionaires fell by 1%.
In the report a section is dedicated to the differences between generations when putting their money in motion, something to take into account by the heritage managers, since it is estimated that 83.5 billion dollars will change hands, inheritances by, in the next two decades. , will be developed, according to the study, in three phases: 30% of the HNWI will have received an inheritance before 2030, 63% will do so at the end of 2035, and 84% by 2040 Next generation are willing to assume greater risks to expand their assets, assigning capital to less growth assets classes and demanding offers of niche products. ” In January 2025, HNWI investors allocated 15% of their portfolios to alternative investments, including risk capital and cryptocurrencies.
