The number of Saudi ultra-high-net-worth individuals—those with net assets of $50 million or more—rose to 1,540, an increase of 4%, and is expected to grow by 18 % over the next five years.
New data compiled exclusively for the Wealth Report shows that the number of ultra-high-net-worth individuals worldwide rose by 10 % in 2017, reaching 129,730 people globally, with a combined wealth of $26.4 trillion.
Data provided by Wealth-X shows that the number of ultra-high-net-worth individuals grew in 2017 at a significantly faster rate than in the previous five years, during which the cumulative increase was 18 %.
This trend in global wealth creation reflects the growing momentum in the global economy since the beginning of 2017, and the solid outlook for the global economy supports the wealth specialist’s forecast that the number of individuals with net assets of US$50 million or more will have increased by an additional 40 % by 2022.
The Middle East remains one of the world’s key regions for wealth, ranking fourth in terms of wealth held by ultra-high-net-worth individuals. The number of ultra-high-net-worth individuals in the Middle East increased by 3 % last year, bringing the total to 4,740 individuals with a combined net worth of 1,275 billion dollars.
