Report Finds Billionaires' Wealth Surged by 9%, Reaching a Record of $12.1 Trillion

Altrata, a company specializing in intelligence on the wealthy and well-connected, released the Billionaire Census 2024. Following another year of rising fortunes, the billionaire population rose by 4% in 2023 to 3,323 individuals, and their collective net worth is now valued at more than $12 trillion.

Billionaires make up less than 1% of the global ultra-high net worth (UHNW) population—those with net worths exceeding $30 million—yet hold 25% of this group's total wealth. Within this exclusive class, an even more concentrated subset emerges only 0.5% of billionaires hold fortunes over $50 billion. These 18 individuals account for 16% of billionaire wealth, a dramatic increase from 4% in 2014.

North America saw the fastest growth in billionaire numbers of any region in 2023. It now accounts for 33.4% of the global billionaire population. Asia was the only region to record a decline in billionaire numbers and wealth, experiencing a 3.5% fall in its billionaire population - to 806 individuals - and a 2% drop in their total net worth. India stood out, recording the strongest growth in billionaire numbers among leading countries, with a 16% increase last year. Europe's billionaire population registered above-average growth of 5%.

A Closer Look at Female Billionaires

The Billionaire Census 2024 goes on to explore the growing share of female billionaires. Among the report's numerous findings, the study reveals:

• Only 24% of female billionaires are self-made compared to 65% of male billionaires, demonstrating the significant role of inheritance as a source of wealth. 75% of female billionaires inherited at least part of their wealth.
• While accounting for an increasing share of billionaires, at 13%, women still remain in the minority.
• The median age of female billionaires is 67, slightly younger than the male cohort; while 13% are under the age of 50.
• The nonprofit space and financial services are the most common sectors of professional focus among female billionaires. Among self-made female billionaires, the leading sectors are financial services and tech.

Billionaire women are 1.5 times more likely to own high-end real estate and 1.3 times more likely to own valuable art than male billionaires. Privately owned investments - often tied to multi-generational family businesses - account for a larger proportion of female billionaires' portfolios than those of their male peers.

Among female billionaires, philanthropy is without doubt the preferred interest, far ahead of sports, art and education. When it comes to philanthropic giving the top three causes are Education, Arts and Culture and Healthcare and Medical Research.

Access the Complete Findings

This marks the 11th edition of the Billionaire Census 2024, powered by Altrata's Wealth-X data.

Altrata's Wealth-X insights are fueled by our extensive dataset of individual profiles on the wealthy, including their financial profiles, career history, known associates, affiliations, family background, education, philanthropic endeavors, passions, hobbies, interests, and much more. Our proprietary valuation model (as defined by net worth) assesses all asset holdings, including privately and publicly held businesses and investable assets.

While the billionaire population is modest in size, it has a significant and growing influence across the global economy. The Billionaire Census 2024 provides a comprehensive overview and analysis of the world's billionaire population and is a critical read for anyone looking to engage with the wealthy and well-connected.

Access the "Billionaire Census 2024" report here.

Source: Altrata

The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of the staff of NonProfit PRO.