While a staggering $86.8 trillion flowed through the hands of the world's wealthy last year, the real story of the wealth industry is found not just in the soaring statistics, but in the seismic shifts reshaping who holds this capital and how it will move across generations and borders in the years to come.
Key Takeaways
- In 2022, the global population of high-net-worth individuals (HNWIs) defined as those with investable assets of at least USD 1 million excluding primary residence reached 22.8 million, marking a 7.6% year-over-year increase
- Global HNWI wealth totaled USD 86.8 trillion in 2022, up 7.9% from the previous year despite market volatility
- North America held 38% of global HNWI population with 7.9 million individuals in 2022
- Global UHNWIs (USD 30 million+ assets) numbered 264,200 in 2022, up 7.4%
- Total UHNW wealth reached USD 39.7 trillion in 2022 globally
- The US dominated UHNW population with 110,300 individuals in 2022
- Global wealth management assets under management (AUM) hit USD 112 trillion in 2022
- Private banks managed 45% of global AUM totaling USD 50.4 trillion in 2022
- Retail banks held 30% of AUM at USD 33.6 trillion in 2022
- Expected USD 84 trillion intergenerational wealth transfer from 2023-2048 globally
- Baby Boomers to transfer USD 53 trillion to Millennials and Gen Z in US by 2045
- Europe anticipates USD 19 trillion wealth transfer over next 20 years
- Global wealth industry revenue reached USD 1.8 trillion in 2022, up 9%
- Wealth managers’ operating margins averaged 28% in 2022 for top firms
- 68% of HNWIs switched or considered switching advisors in past 2 years
The global wealth industry grew significantly in 2022, driven by rising numbers of wealthy individuals.
AUM Metrics
1Global wealth management assets under management (AUM) hit USD 112 trillion in 2022
Verified2Private banks managed 45% of global AUM totaling USD 50.4 trillion in 2022
Verified3Retail banks held 30% of AUM at USD 33.6 trillion in 2022
Verified4Independent asset managers oversaw USD 17.3 trillion or 15% of AUM in 2022
Directional5Mass affluent segment (USD 100k-1M assets) represented 40% of AUM growth in 2022
Single source6UHNW segment drove 25% of AUM increase to USD 28 trillion in 2022
Verified7Europe’s wealth management AUM was USD 35 trillion in 2022, 31% of global
Verified8North America AUM reached USD 38 trillion in 2022, leading globally
Verified9Asia-Pacific AUM grew 12% to USD 25 trillion in 2022
Directional1055% of global AUM was in fixed income and cash in 2022
Single source11Equities comprised 28% of AUM allocations totaling USD 31.4 trillion in 2022
Verified12Alternative assets in AUM rose to USD 11.2 trillion or 10% in 2022
Verified13Global AUM projected to reach USD 145 trillion by 2025 at 5.2% CAGR
Verified14Fee income from AUM grew 8% to USD 1.2 trillion in 2022
Directional15Digital platforms managed 15% of AUM or USD 16.8 trillion in 2022
Single source16China’s AUM expanded 14% to USD 12 trillion in 2022
Verified17Switzerland’s wealth managers oversaw USD 8.5 trillion AUM in 2022
Verified18Singapore AUM hit USD 4.2 trillion in 2022, up 11%
Verified19UK wealth management AUM was USD 5.1 trillion in 2022
Directional20US robo-advisors managed USD 1.5 trillion AUM in 2022, growing 25%
Single sourceAUM Metrics Interpretation
In a landscape where private banks hoard nearly half the world's $112 trillion treasure chest and cautious clients park most of their wealth in bonds and cash, the real story is a global gold rush being fueled by the mass affluent and turbocharged by digital platforms, proving that while the ultra-rich write the biggest checks, the future of wealth is being democratized one algorithm and middle-class saver at a time.
HNWI Statistics
1In 2022, the global population of high-net-worth individuals (HNWIs) defined as those with investable assets of at least USD 1 million excluding primary residence reached 22.8 million, marking a 7.6% year-over-year increase
Verified2Global HNWI wealth totaled USD 86.8 trillion in 2022, up 7.9% from the previous year despite market volatility
Verified3North America held 38% of global HNWI population with 7.9 million individuals in 2022
Verified4Asia-Pacific region saw the fastest HNWI population growth at 9.3% in 2022, reaching 7.6 million HNWIs
Directional5Europe had 6.3 million HNWIs representing 28% of the global total in 2022
Single source6The United States alone accounted for 7.4 million HNWIs or 32% of the global population in 2022
Verified7China’s HNWI population grew by 10.2% to 1.1 million in 2022 amid economic challenges
Verified8In 2022, 62% of global HNWI wealth was held in equities and mutual funds
Verified9Latin America’s HNWI numbers increased by 5.4% to 700,000 in 2022
Directional10Middle East and Africa combined had 640,000 HNWIs in 2022, up 4.1%
Single source11Japan’s HNWI population stood at 3.4 million in 2022, second largest in Asia-Pacific
Verified12Global HNWI wealth grew by USD 6.4 trillion in 2022 to reach USD 86.8 trillion
Verified13Women represented 11.3% of global HNWIs in 2022
Verified14India’s HNWI population surged 12.1% to 850,000 in 2022
Directional15Australia had 450,000 HNWIs in 2022, growing at 6.8%
Single source16UK HNWIs numbered 950,000 in 2022, up 3.2%
Verified17Germany’s HNWI count was 1.4 million in 2022
Verified18France had 950,000 HNWIs in 2022, stable growth
Verified19Canada’s HNWI population reached 500,000 in 2022, up 5.9%
Directional20Brazil led Latin America with 220,000 HNWIs in 2022
Single source21South Africa had 38,000 HNWIs in 2022, growing 4.5%
Verified22Singapore’s HNWI numbers hit 300,000 in 2022, up 8.7%
Verified23Switzerland hosted 950,000 HNWIs in 2022
Verified24Hong Kong had 140,000 HNWIs in 2022
Directional25Saudi Arabia’s HNWI population grew to 95,000 in 2022, up 6.2%
Single sourceHNWI Statistics Interpretation
Despite market turbulence proving no match for their fortunes, 2022 saw a global millionaire club of nearly 23 million swell with enough wealth to solve numerous world problems, though their $86.8 trillion portfolio still remains glaringly light on both geographic and gender diversity.
Industry Trends
1Global wealth industry revenue reached USD 1.8 trillion in 2022, up 9%
Verified2Wealth managers’ operating margins averaged 28% in 2022 for top firms
Verified368% of HNWIs switched or considered switching advisors in past 2 years
Verified4Sustainable investing AUM hit USD 18 trillion in wealth industry 2022
Directional5Robo-advisory AUM grew 30% YoY to USD 2.5 trillion globally in 2022
Single source6Number of single-family offices worldwide reached 7,500 in 2022
Verified7Private equity allocations by wealth clients rose to 15% of portfolios in 2022
Verified8Digital tools adopted by 85% of wealth firms for client engagement in 2023
Verified9Asia wealth management headcount grew 12% in 2022 to 450,000
Directional10Cost-income ratio for wealth managers improved to 65% in 2022
Single source1192% of next-gen investors prioritize ESG factors in investments 2023
Verified12Global family office AUM totaled USD 5.8 trillion in 2022
Verified13Wealthtech funding reached USD 12 billion in 2022 across startups
Verified1440% of wealth advisors are over 55 years old, facing retirement wave
Directional15Hybrid advisory models captured 35% market share in 2022
Single sourceIndustry Trends Interpretation
Despite enjoying fat margins and a massive revenue stream, the wealth industry is nervously sweating through its silk shirt as clients, technology, and the next generation demand radical change, proving that even in a trillion-dollar game, you can't just sit on your pile of money.
UHNW Statistics
1Global UHNWIs (USD 30 million+ assets) numbered 264,200 in 2022, up 7.4%
Verified2Total UHNW wealth reached USD 39.7 trillion in 2022 globally
Verified3The US dominated UHNW population with 110,300 individuals in 2022
Verified4China had 42,800 UHNWIs in 2022, second highest globally
Directional5UHNWIs in the Middle East grew 8.1% to 12,500 in 2022
Single source6Europe’s UHNW population was 80,200 in 2022, holding 25% of global UHNW wealth
Verified7Asia-Pacific UHNWIs totaled 68,400 in 2022, up 9.2%
Verified8UHNW real estate investment averaged USD 25 million per property purchase in 2022
Verified942% of UHNWIs planned to increase private equity allocations in 2023
Directional10Global UHNWIs expected 5.1% wealth growth in 2023
Single source11India’s UHNWIs grew 12% to 13,000 in 2022
Verified12UK had 9,800 UHNWIs in 2022
Verified13Germany’s UHNW population was 7,200 in 2022, up 6.5%
Verified14Switzerland hosted 4,900 UHNWIs in 2022
Directional15Australia’s UHNWIs numbered 2,800 in 2022, growing 7.8%
Single source16Brazil had 2,500 UHNWIs in 2022
Verified17Russia’s UHNWIs stood at 2,900 despite sanctions in 2022
Verified18UAE saw UHNWIs grow 10.2% to 4,500 in 2022
Verified19Singapore had 3,100 UHNWIs in 2022
Directional20Japan’s UHNW population was 6,200 in 2022
Single source21France counted 5,600 UHNWIs in 2022
Verified22Canada had 3,900 UHNWIs in 2022, up 5.4%
Verified23South Korea’s UHNWIs reached 2,800 in 2022
Verified24Italy had 3,200 UHNWIs in 2022
DirectionalUHNW Statistics Interpretation
While the world wrestles with economic headwinds, a growing, globe-trotting club of ultra-rich individuals—concentrated in the U.S. but booming in Asia and the Middle East—is quietly amassing a staggering $40 trillion fortune and plotting its next move into private equity and palatial real estate.
Wealth Transfer
1Expected USD 84 trillion intergenerational wealth transfer from 2023-2048 globally
Verified2Baby Boomers to transfer USD 53 trillion to Millennials and Gen Z in US by 2045
Verified3Europe anticipates USD 19 trillion wealth transfer over next 20 years
Verified4Asia-Pacific great wealth transfer estimated at USD 12 trillion by 2030
Directional551% of UHNWIs plan to transfer wealth within 5 years
Single source6Only 28% of HNWIs have fully documented succession plans in place as of 2023
Verified7US Millennials expected to inherit USD 12 trillion from parents by 2030
Verified8China’s wealth transfer to next generation projected USD 5.5 trillion by 2027
Verified970% of wealthy families lose wealth by second generation, 90% by third
Directional10Global family offices managing transferred wealth grew to 10,000 in 2023
Single source11UK great wealth transfer forecasted at GBP 5.7 trillion over 30 years
Verified12India’s intergenerational transfer to hit USD 2.4 trillion by 2040
Verified1343% of HNWIs cite tax planning as top transfer concern in 2023
Verified14France expects EUR 15 trillion wealth handover by 2050
Directional15Australia’s Boomer wealth transfer USD 3.5 trillion over next 20 years
Single source1665% of next-gen heirs lack financial literacy per 2023 surveys
Verified17Germany’s wealth transfer projected EUR 3.2 trillion by 2035
Verified18Brazil anticipates USD 700 billion transfer by 2030
Verified19Singapore families to transfer SGD 1.2 trillion by 2030
Directional20Canada’s intergenerational shift USD 1 trillion by 2028
Single source2175% of UHNW parents want children involved in philanthropy post-transfer
VerifiedWealth Transfer Interpretation
The world's wealth is undergoing history's largest game of financial hot potato, with trillions on the move and a sobering number of players utterly unprepared to catch it.
Sources & References
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