According to a report by the Hurun Global Rich List, Asia’s ultra-rich population fell by 3.1% in 2022, the largest drop in the world. The total number of ultra-high net worth individuals (UHNWIs) in Asia declined to 15,625, from 16,110 in 2021.
| Region | Number of UHNWIs | Total wealth | Average wealth |
| Asia | 15,625 | $40.3 trillion | $2.6 billion |
| Europe | 12,750 | $35.2 trillion | $2.7 billion |
| United States | 11,075 | $38.5 trillion | $3.5 billion |
The decline was driven by a number of factors, including the economic slowdown in China and the ongoing war in Ukraine. China, which is home to the most UHNWIs in the world, saw its UHNWI population fall by 2.5% in 2022. The war in Ukraine also had a significant impact on UHNWIs in Russia and Ukraine, as many of them lost their wealth due to sanctions and the economic downturn.
Despite the decline, Asia still remains the home to the most UHNWIs in the world, followed by North America and Europe. The total wealth of Asia’s UHNWIs is estimated to be $40.3 trillion, up from $38.5 trillion in 2021.
The report also found that the average wealth of an UHNWI in Asia is $2.6 billion, up from $2.5 billion in 2021. The richest UHNWI in Asia is Mukesh Ambani, the chairman of Reliance Industries, with a net worth of $103.7 billion.
The decline in Asia’s UHNWI population is a sign of the challenges that the region is facing. However, the region still remains a major player in the global economy and is home to some of the world’s richest people.