The number of multi-millionaires and billionaires across the world is growing. According to new research from Wealth-X, the population of ultra-high-net-worth (UHNW) individuals — which it defines as those with a net worth of $30 million or more — rose by 12.9 percent between 2016 and 2017.
"This was a sharp acceleration from growth of 3.5 percent in 2016," Wealth-X reports.
The combined net worth of the super rich also increased, rising by 16.3 percent to $31.5 billion. And the growth wasn't just concentrated in one area, the research firm notes: "A testament to the auspicious economic climate, the ultra-wealthy population and its total net worth increased in all seven major regions, contrasting with the diverse performances seen a year earlier."
Of the major regions Wealth-X looked at, Asia saw the biggest gains — its UHNW population increased by 18.5 percent — but North America and Europe are still home to the most ultra-wealthy individuals:
Click on the Wealth-X chart to enlarge.
Here's a breakdown of the number of UHNW individuals across seven major regions and the total wealth they control:
North America: 35 percent of the UHNW population
Population of UHNW individuals: 90,440
Total wealth of UHNW individuals: $10,998 billion
Europe: 28 percent of the UHNW population
Population of UHNW individuals: 72,570
Total wealth of UHNW individuals: $8,773 billion
Asia accounts: 27 percent of the UHNW population
Population of UHNW individuals: 68,970
Total wealth of UHNW individuals: $8,365 billion
The Middle East: 4 percent of the UHNW population
Population of UHNW individuals: 9,090
Total wealth of UHNW individuals: $1,526 billion
Latin American and the Caribbean: 3 percent of the UHNW population
Population of UHNW individuals: 8,550
Total wealth of UHNW individuals: $1,173 billion
The Pacific: 1 percent of the UHNW population
Population of UHNW individuals: 3,700
Total wealth of UHNW individuals: $363 billion
Africa: 1 percent of the UHNW population
Population of UHNW individuals: 2,490
Total wealth of UHNW individuals: $305 billion
In terms of the specific countries with largest population of wealthy individuals, here are the top 10 UHNW countries:
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