UK UHNW population rises by 16% despite ‘lacklustre’ economic conditions

The number of ultra high net worth individuals (UHNWI) in the UK increased by 16.3 per cent to 20,495 in 2025, despite ‘lacklustre’ economic conditions, according to Altrata’s World Ultra Wealth Report 2026.

This growth rate was higher than many of the country’s peers, including the US (15 per cent), China (10.1 per cent), Germany (15.6 per cent), and France (10 per cent), and the global average.

The global UHNW population rose by 14.4 per cent to a record-high 556,850 individuals last year, marking a second consecutive year of double-digit growth and the highest increase since 2017.

The UK’s total UHNWI wealth stood at $2.1trn, on par with Japan and Hong Kong, but behind China ($6.1trn), Germany ($3.4trn) and the stand-out wealth leader, the US ($23.8trn).

Total wealth of the global UHNW population increased to $63.8trn in 2025, more than double the annual GDP of the US economy.

In Europe, ultra wealth portfolios increased strongly, Altrata noted, despite below-average economic conditions in its largest wealth hubs, including the UK, and market exposure to the protectionist shift in US trade policy.

Portfolios were supported by many global investors diversifying away from US assets to European stocks, driving double-digit gains across the region’s equity markets.

Europe’s UHNW population rose by 14.5 per cent to 140,140, while European UHNWI wealth increased by 15.2 per cent to $16.3trn.

Since 2004, the global UHNW population has risen by a cumulative 255 per cent, outpacing adult population growth by a factor of seven.

There were almost 51 million millionaires in 2025, and while the ultra wealthy represented just 1.1 per cent of this population, their share of wealth was 32 per cent.

“By 2030, we forecast a global UHNW population of 746,570 individuals, a substantial increase of 190,000 from its 2025 level,” Altrata stated.

“The group’s combined net worth is set to swell by a third, rising to $85tn.

“Asia is forecast to register the strongest growth in UHNW numbers of the three major regions, but North America will remain the dominant wealth centre.

“Delhi will be the fastest-growing city by UHNW population to 2030, followed by Stockholm and Wuhan (China), with established and emerging wealth hubs across the Nordics, Australia and southeast Asia also featuring prominently.”

---