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Report: Malaysia had 754 individuals with net worth of US$30mil and above in 2023

Publish date: Thu, 29 Feb 2024, 03:28 PM

KUALA LUMPUR: Malaysia had only 754 individuals who were worth more than US$30 million in 2023, according to Knight Frank's Wealth report.

The country with the lowest number of ultra-high-net-worth-individuals (UHNWI), according to the report, was Vietnam with 752 individuals.

The Knight Frank Wealth Sizing Model measures the size of high-net-worth-individuals (HNWI), UHNWI and billionaire cohorts in more than 200 countries and territories.

The country with the highest number of UHNWI was the United States with 282,626 in 2023.

Chinese mainland had 144,897 UHNWIs in 2023.

Malaysia's numbers were up 4.3 per cent from the 723 seen in 2022.

By 2028, this number is expected to grow almost 35 per cent to 1,105.

North America has the highest number of UHNWIs in 2023 with 253,066, followed by Asia with 165,442 and Europe with 155,232.

Globally there are 626,619 UHNWIs. The number is expected to grow 28 per cent to 802,891 in 2028. -us30mil-and-above

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