Global Ultra-Wealthy Population Declines for First Time in 4 Years as Bear Market Erodes Fortunes

The global population of ultra-high-net-worth individuals fell for the first time in 4 years in 2022, decreasing by 5.4% as wealth declined.
Most of 2022 was a bear market, making it difficult for investors. The combined net worth of the ultra-wealthy dropped by 4.3% to $16.5 trillion.
Europe experienced a 7.1% decrease in its ultra-wealthy population. Asia fared worst, falling by 10.6%.
The Middle East and Latin America saw increases in their ultra-wealthy populations in 2022, boosted by high commodity prices.
Despite losses in 2022, the ultra-wealthy are still far above pre-pandemic levels and expected to continue growing over the next 5 years.

fortune.com

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