The world’s wealthiest individuals are getting richer — and younger — and they’re changing the rules of wealth itself.
According to Altrata’s World Ultra Wealth Report 2025, at the end of June, 510,810 ultra-high-net-worth individuals (UHNWIs) — each worth over $30 million — controlled $59.8 trillion in combined wealth. That’s double the size of the entire US GDP.
Their portfolios, industries, and even philanthropy are shifting fast, driven by tech, geopolitics, and a massive generational wealth transfer.
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The $60 trillion elite keep growing — even in chaos
Amid trade wars, election shocks, and a volatile global economy, the ultrawealthy are thriving.
Their collective wealth rose by 6.7% in the first half of 2025, after an 11.6% surge in 2024 — the third strongest expansion in a decade.
North America remains the world’s top wealth hub, home to 208,090 UHNW individuals worth a combined $24 trillion, or 41% of global UHNW wealth.
Asia follows closely with 129,100 ultrawealthy people holding $14.8 trillion, while Europe is home to $14.7 trillion.
Even Africa — long a minor player — saw its UHNW population jump 7.5%, powered by demand for critical minerals and a growing middle class.
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From Gen X to Gen Z: a $60 trillion generational takeover
A seismic shift is underway.
By 2040, Gen X, millennials, and Gen Z will make up 80% of the global ultrawealthy population, up from 33% now.
Baby boomers — now about 45% of the ultra-rich — are steadily ceding ground as massive intergenerational wealth transfers take place.
Altrata says the “Great Wealth Transfer” will reshape investment strategies, philanthropy, and luxury consumption for decades.
Younger generations are also changing how fortunes are built.
The next generation of the ultra-rich are far more likely to make their wealth in technology, entertainment, or hospitality, while older generations remain concentrated in finance and business services.
How the ultrawealthy invest
For much of the past two decades,…
Read More: How the World’s Richest Are Investing Their $60 Trillion Fortunes
