How many high networth individuals in the world depends on who is counting and how they define the term. The best-known annual count, from Capgemini’s World Wealth Report, put the global total at about 22.8 million people for 2023, using a definition of at least one million dollars in investable assets. Other sources report different totals, and the reasons are worth understanding before you quote any of them.
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The Capgemini count
Capgemini defines a high net worth individual as someone with investable assets of at least one million US dollars, excluding their primary residence, collectibles and consumables. Its 2024 report said the global HNWI population grew to roughly 22.8 million in 2023, and that the United States had the largest number, at roughly seven million people. Later reports have shown further growth, and you should check the latest edition for current numbers. Capgemini also reports the total wealth of this group, which is in the tens of trillions of dollars.
Why UBS gives a different number
The UBS Global Wealth Report counts millionaires by net worth, which includes the value of homes and subtracts debts. By that measure, there are about sixty million adult millionaires in the world. The two figures answer different questions: Capgemini counts people with at least a million dollars in financial assets outside their home; UBS counts people with a million in total net worth. A retiree with a two-million-dollar house and little else is a UBS millionaire but not a Capgemini HNWI.
How many high networth individuals in the world are ultra rich?
Ultra high net worth individuals, with at least thirty million dollars in net worth according to a common definition used by Altrata and others, number in the hundreds of thousands worldwide. Billionaires number around three thousand, according to Forbes’s 2025 list, which counted roughly 3,000 people. These pyramid tiers get smaller very quickly as the thresholds rise.
- Millionaires (net worth): roughly sixty million adults, UBS.
- HNWIs (investable assets of one million): roughly 23 million, Capgemini.
- Ultra high net worth (thirty million or more): hundreds of thousands.
- Billionaires: around three thousand, Forbes.
Where they live
The United States accounts for the largest share of high net worth individuals, followed by Japan, Germany, China and several other countries. Growth has been fastest in some Asian markets and the Middle East in recent years. Migration of wealthy people between countries is a regular subject of research, though estimates of these flows are less reliable than the counts themselves.
Why counts change from year to year
- Stock markets have an outsized effect, because investable assets are mostly equities.
- Exchange rates change dollar values in other countries.
- Methods are updated, so revisions apply to past years.
- Inflation moves people across fixed thresholds like one million dollars, even if they have not become richer in real terms.
That last point matters: a million dollars was worth much more decades ago, so a fixed threshold captures a growing share of people over time.
What the numbers mean for wealth management
The one-million-dollar line matters because it is a common entry point for wealth management and private banking services, which is why firms track these counts closely. Firms like banks and consultants use the numbers to size their markets and plan where to hire advisers. The data also show where wealth is growing: in recent years, North America and parts of Asia have seen the fastest increase in the number of HNWIs, while some European markets have been slower. For individuals, the counts are mainly interesting context. They do not change what you need to do with your own money, which depends on goals and risk tolerance, not on how many others have reached the same level.
How to cite the figure
Always say who published it, the year it refers to and the definition. For instance: “Capgemini estimated 22.8 million HNWIs worldwide at the end of 2023.” Avoid mixing counts from different reports. For the personal calculation behind these definitions, see our guide on how to calculate net worth, and for a related look at global totals, our article on global household wealth.
Quick questions
Does the count include real estate? Capgemini excludes the primary home; UBS includes it.
Is the number rising? Over time, yes, with dips in market downturns.
Where can I find the latest? In the newest Capgemini and UBS reports.
Where to check
Capgemini publishes the World Wealth Report each year, and UBS publishes its Global Wealth Report. For wider context, see the Wikipedia article on high-net-worth individuals.
In short, how many high networth individuals in the world is about 23 million by Capgemini’s definition and about 60 million millionaires by UBS’s. This article is informational and is not financial advice.
Featured image: Luxury yacht docked in marina with mountain views.jpg by Shixart1985, CC BY 2.0, via Wikimedia Commons.
