Where Do The World’s Ultra Rich Live? India Among Fastest Growing Wealth Hubs, US Tops List

Last Updated:April 23, 2026, 19:45 IST

The US remains the world’s top hub for ultra-wealth, while India’s rising millionaire class signals a broader shift in global capital creation.

The United States continues to dominate as the world’s top destination for ultra-rich individuals, with more than 250,000 people worth over $30 million, far ahead of other major economies, according to Knight Frank’s Wealth Report 2026.

Data from the report’s Wealth Sizing Model shows the US is home to 251,352 ultra-high-net-worth individuals (UHNWIs), followed by China with 121,677. European economies also feature prominently, with Germany (38,215), the UK (27,876) and France (21,518) among the top five. India ranks sixth with 19,877 UHNWIs.

The global pool of ultra-wealthy individuals has expanded sharply in recent years. The report notes that “the global population of UHNWIs… rose from 551,435 to 713,626" between 2021 and 2026.

That growth translates into a striking daily trend. As the report puts it, “89 people, somewhere in the world, [are] crossing the US$30 million threshold every single day."

US Leads, China Holds Second Spot

The US has not just maintained its lead but widened it. Knight Frank estimates that 41% of all newly created UHNWIs over the past five years were in the US. Its share of global ultra-wealth has also risen and is expected to grow further in the coming years.

China remains the second-largest hub of ultra-wealth, but its relative share is gradually easing. While it continues to add wealthy individuals, its proportion of the global total has edged down and is projected to decline further by 2031.

India Emerges As A Key Growth Market

India stands out as one of the fastest-growing centres of ultra-wealth, even though it currently ranks sixth globally. The country’s UHNWI population rose sharply from just over 12,000 in 2021 to nearly 20,000 in 2026.

Knight Frank notes that India’s trajectory is “unmistakably upward", with its ultra-wealth population expected to reach 25,217 by 2031, driven by expansion across technology, capital markets and entrepreneurship.

Europe’s Strong Presence

Europe continues to host a significant share of the world’s ultra-rich, reflected in multiple countries featuring in the top 10. Germany leads the region, followed by the UK, France, Switzerland and Italy.

This spread, according to the report, is due to the region’s established financial systems, mature economies and long-standing wealth centres, even as growth rates lag behind some emerging markets.

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