In 2023, Malaysia only had 754 individuals whose fortunes exceeded US$30 million (approx RM142 mil), showcasing a 4.3% increase from the 723 recorded in 2022.
This finding, part of the Knight Frank Wealth Report, places Malaysia just above Vietnam, which reported 752 ultra-high-net-worth individuals (UHNWI), the lowest tally among surveyed nations.
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The report leverages the Knight Frank Wealth Sizing Model to quantify the affluent across over 200 countries, offering insights into the distribution of wealth globally.
The United States emerged as the domicile of the most UHNWIs, with a staggering count of 282,626, while the Chinese mainland hosted 144,897 such individuals.
Predictions for Malaysia suggest a notable 35% surge in UHNWI numbers, reaching 1,105 by 2028.
In a broader context, North America led the pack with 253,066 UHNWIs, followed by Asia’s 165,442 and Europe’s 155,232. The global UHNWI population stood at 626,619, with expectations set for a 28% growth to 802,891 by 2028, illustrating the expanding echelons of the world’s wealthiest.
