ALTRATA WorldUltraWealth Report2023 W SCIWEALTH-X ThoughtleadershipAnAltratacompanyAnAltratacompany WorldUltraWealth Report2023 ALTRATA JamesLavellChiefExecutiveOfficer ManuelBianchiSeniorVicePresidentandGlobalHeadofSales,WealthSolutions MichaelPhillips VicePresident,MarketingandCommunications AmandaCifone SeniorMarketingDirector Leadauthors Mayalmberg SeniorDirector,HeadofThoughtLeadershipandAnalytics MaeenShaban DirectorofResearchandAnalytics NikolettaSzaboAssociateAnalyst,ThoughtLeadershipandAnalytics DesignStephanieWarburton DirectorofVisualCommunications DawnLastre VisualCommunicationsSpecialist @DelinianLimitedanditsaffliatedcompanies.September2023. Thispublicationisforyourinformationonlyandisnotintendedasanoffer,orasolicitation ofanoffer,tobuyorsellanyproductorotherspecificservice.Allinformationandopinions REL W WEALTH-X indicatedaresubjecttochangewithoutnotice.AnAltratacompanyAnAltratacompany Contents 01Executivesummary 02Introduction2 03Theultrawealthyin20223 O4Regional,countryandcityperformance6 05Theviewahead13 06UHNWentrepreneurs,executivesandinheritors15 07Connectionstotheultrawealthy22 08Methodology23 09AboutAltrata24 AltrataIWorldUltraWealthReport2023 01 Executivesummary In2022,theglobalultrahighnetworthTheshareofglobalprivatewealthheldby (UHNW)populationfellby5.4%totheultrawealthywillcontinuetoincrease. 395,070individuals.ThisrepresentsaDespiterecentvolatilityandcontinuing sharpreversalfrom2021andthefirstuncertainty,weremaincautiouslyoptimistic downturninUHNWnumberssince2018,abouttheopportunitiesforwealth althoughitonlypartiallyreversedthegeneration-weforecastthenumberof dynamicgainsrecordedin2021.WealthUHNWindividualstoincreaseoverthenext portfolioswerehitbyanotherturbulentfiveyearsfrom395,070to528,100.Having yearfortheworldeconomy.FollowingovertakenEuropein2019,Asia'sshareof historicalhighsinrecentyears,combinedUHNWwealthwillcontinuetogrow(to29%) networthfellby5.5%to45.4trn.upfrom27%in2022andjust15%in2004)whileNorthAmericawillremainthelargestwealthmarket. Asia'sultrawealthypopulationfellby 11%in2022,themostofanyregion, to108,370individuals.China'sstrictUHNWentrepreneurs,corporate Covidlockdown,falloutfromthewarinexecutivesandsoleinheritorsaredifferent Ukraine,disruptedregionalsupplychainswhenitcomestotheircharacteristics, anddepressedstocksallplayedarolefavoredinterestsandapproachtowealth. Despiterecordingadeclineof4%in2022Amongtheseultrawealthyarchetypes, to142,990individuals,NorthAmericaentrepreneurshavethehighestlevelof theleadingUHNWregion-sawitssharewealth,with85%havingentirelyself-made oftheglobalUHNWclassriseslightly,tofortunes.Corporateexecutiveshavethe 36%,asbothAsiaandEuropeexperiencedlowestproportionoffemalerepresentation largerrelativefallsinpopulation.(8%),whilesoleinheritorshaveafargreater proportion(atalmost40%)andstand outfortheirparticularlystronginterest Allbutone-India-oftheworld'sinphilanthropy(itisthemostcommon top10UHNWcountriesrecordedfallsinterestforallthreearchetypes).intheirultrawealthypopulations. Despitea4%fall,theUSconsolidated itsstatusasbyfartheworld'slargestCorporateexecutivesand wealthmarket.Amongtheworld'sentrepreneursarealmostequallythe premierUHNWcities,HongKongmostfrequentUHNWownersofyachts, andNewYorkretainedtheirlead,buttheformerdominatewhenitcomes withalmosttwiceasmanyUHNWtoprivatejets.Executivesaccountfor individualsasthirdandfourthranked62ofevery100UHNWprivatejetowners LondonandLosAngeles.Anyrisesinbut,amongvaluableartcollectors, cityUHNWnumbersweregenerallyentrepreneursaccountfor42outof modestbuttheoutlierwasSingapore,every100.Luxurycarownershipshowsa whichenjoyedgrowthof13%higherdiversityofUHNWownership Altrata1WorldUltraWealthReport20231 02 Introduction ThelatesteditionoftheWorldUltraWealthReport-thesecondtobepublishedbyAltrataand the11thpoweredbyWealth-Xdata-providesuniqueanddetailedanalysisoftheglobalultrahigh networth(UHNW)population.Thisexclusivegroupofwealthyindividuals,eachwithanetworthinexcessofs3Om,hasgrownsteadilyinsizeandinfluenceoverthepastdecadetonowholdimmensecollectivewealthofmorethanS45trn. Inwhatwasanotherturbulentyearfortheworldeconomy,weassessthechangesandimpactfeltbytheglobalUHNWclassin2022aswealthmarketsrespondedtoadiminishingglobalpandemic, cycleindecades.Weexplorethemaindriversandregionaltrendsofglobalwealth,andhighlightkeydevelopmentsinourrankingsoftheleadingUHNWcountriesandcities. ThereportthenmovestoexaminekeyfacetsoftheglobalUHNWpopulationthroughananalysisof threespecificultrawealthyarchetypes:entrepreneurs,executivesandinheritors.Together,thesemutuallyexclusivegroupsencompassmorethanthree-quartersoftheultrawealthypopulation.Wehighlighttheirdifferentcharacteristics,demographics,luxuryassetownershiptrends,wealthholdingsandpersonalinterests,providingvaluableinsightsforcompaniesandorganizationsthatengagewithandtargettheultrarich. UsinginsightsfromRelSci(anotherAltratacompany),weconcludebydetailingthesurprisinglyhighnumberofprofessionalconnectionsthatuniversitydeansandvice-deanshavetotheultrawealthy,showcasingthepoweroflev