Despite the global hardships of the COVID-19 pandemic, the world’s ultra-high net worth (UHNW) population increased by 2.4% in 2020, reaching an all-time high of 521,653.
In the following chart Visual Capitalist used data from The Wealth Report 2021 by Knight Frank to list the 20 countries with the most UHNW individuals.
And as you can see, Australia has experienced a 57% growth in UHNW individuals since 2015
What is Considered Ultra High Net Worth?
To be considered a UHNW individual, one must have a net worth of at least $30 million.
Net worth is a measure of someone’s current financial position and is calculated as the value of their assets minus their liabilities. The following table lists examples of each:
| Assets | Liabilities |
|---|---|
|
|
In short, assets are anything that can be sold for money, while liabilities are any debts or financial obligations that one may have.
- Also read:We’re in the middle of a rental crisis | Property Insiders [Video]
- Also read:17 Sydney suburbs that are cheaper now than 5 years ago
- Also read:Boom to bust: What makes property prices rise and fall
- Also read:Should you do anything about rising interest rates?
- Also read:Sydney and Melbourne suburbs more likely to hold their value
The Top 20 Countries
Out of the 521,653 UHNW individuals in the world, 414,308 were located in the countries below. This means that almost 80% of the world’s UHNW individuals live in just 20 countries.
| Rank | Country | Number of Ultra-Wealthy | Growth Since 2015 |
|---|---|---|---|
| #1 |  U.S. |
180,060 | 16% |
| #2 |  China (Mainland) |
70,426 | 137% |
| #3 |  Germany |
28,396 | 43% |
| #4 |  UK |
16,370 | -8% |
| #5 |  France |
15,503 | 22% |
| #6 |  Japan |
14,755 | 36% |
| #7 |  Italy |
10,441 | -4% |
| #8 |  Canada |
10,025 | 27% |
| #9 |  Russia |
8,015 | 19% |
| #10 |  Switzerland |
7,553 | 12% |
| #11 |  South Korea |
7,354 | 16% |
| #12 |  Saudi Arabia |
7,020 | 227% |
| #13 |  India |
6,884 | 27% |
| #14 |  Spain |
5,938 | 9% |
| #15 |  Sweden |
5,243 | 27% |
| #16 |  Brazil |
5,140 | -9% |
| #17 |  Hong Kong SAR |
5,042 | 48% |
| #18 |  Singapore |
3,732 | 37% |
| #19 |  Mexico |
3,287 | -4% |
| #20 |  Australia |
3,124 | 57% |
With just over 180,000 UHNW individuals within its borders, the U.S. continues to be the long-standing leader in this metric.
Its five-year growth rate of 16%, however, falls far behind the Chinese Mainland’s impressive 137%.
Whether China can overtake the U.S. as the leader in UHNW population remains to be seen, but momentum appears to be in the Asian nation’s favor.
And considering our relative population size, Australia is punching well above its weight with our share of UHNW individuals.
