Billionaire Census2024 Brian AlsterChief Executive Officer Jeff WenderChief Revenue Officer Manuel BianchiGlobal Head of Sales Amanda CifoneSenior Marketing Director Lead authors Maya ImbergSenior Director, Head of Thought Leadership and Analytics Maeen ShabanDirector of Research and Analytics Bettina LengyelAssociate Analyst, Thought Leadership and Analytics Design Dawn LastreVisual Communications Specialist Contents 01Executive summary102Introduction203The billionaire class in 2023304Regional, country and city performance805Today’s female billionaires1606Methodology2607About Altrata27 Executive summary North America saw the fastest growth inbillionaire numbers of any region in 2023.A resilient economy and equity surgehelped to bolster North America’s statusas the world’s leading billionaire region,recording a 9.9% increase in its populationto 1,111 individuals, and raising its globalshare to 33.4%. Asia was the only regionto record a decline in billionaire numbersand wealth, experiencing a 3.5% fall in itsbillionaire population (to 806 individuals)and a 2% drop in total net worth. Europe’sbillionaire population registered above-average growth of 5% to 980 individuals,consolidating its position as the world’ssecond-largest billionaire region (with a30% share). The global billionaire population expandedby 4% in 2023 to 3,323 individuals, morethan reversing the previous year’s declineto hit a new high in billionaire numbers.Their numbers were bolstered by risingstock markets and a world economy thatproved more resilient than expected, giventhe constraints of high inflation, tightmonetary policy, cost-of-living pressuresand geopolitical instability. Billionaires’total wealth increased strongly by 9% to arecord $12.1trn. The richest billionaires are gettingricher.An exclusive 18 individuals residein the very top tier of billionaire wealth,each with a fortune in excess of $50bn.Over the past decade, the number ofindividuals with $50bn+ has risen justslightly to 0.5% of all billionaires, yet moreremarkable by far has been the fourfoldincrease in their share of billionaire wealth:from under 4% in 2014 to 16% in 2023.The total net worth of these 18 individualsamounted to $2trn, implying an average12-figure fortune of just over $100bn. There were a total of 431 femalebillionaires in 2023.While accountingfor an increasing share of billionaires,at 13%, women still remain very much inthe minority. Three-quarters of femalebillionaires have inherited at least aportion of their wealth, compared witha third of male billionaires; though thenumber of self-made female billionairesis rising quickly. The sectoral focus ofa third of billionaire women is eitherthe non-profit sector or banking andfinance. Philanthropy is, without doubt,the preferred interest, far ahead ofsports and art. India recorded the strongest expansion(16%) in billionaire numbers of all theleading countries in 2023, rising to apopulation of 131.In marked contrast,China experienced the largest relativedecline in billionaire numbers of all majorwealth markets for a second consecutiveyear, with its billionaire population fallingby almost 15% to 304. The US enhanced itsstatus as the dominant billionaire country,recording a 10% rise in its population to1,050 individuals. New York maintained itslead at the top of the city table, ahead ofHong Kong, which lost ground for a thirdconsecutive year as a result of the falloutfrom the political clampdown and portfolioexposure to underperforming China-related assets. Female billionaires are more likely thantheir male counterparts to own luxuryproperty and valuable art.Billionairewomen are one-and-a-half times morelikely to own high-end real estate (worthmore than $10m), and 1.3 times more likelyto own valuable art (a single item worthmore than $1m). In contrast, private jets,yachts and in particular valuable cars aremore popular among male billionaires. Introduction Altrata’s latestBillionaire Census– the 11th edition powered by Wealth-X data – provides acomprehensive overview and analysis of the world’s billionaire population. Modest in size, butwith a significant and growing influence across the global economy, the billionaire class holds animmense level of wealth. Following another year of rising fortunes, billionaires’ collective net worthis now valued in excess of $12trn. 2023 was another frenetic year for the world economy, assailed by increasingly complexgeopolitics, large-scale regional conflicts, a volatile climate and policy indecision. Against thisbackdrop, most wealth markets rebounded strongly from the losses of 2022, with investorenthusiasm for generative artificial intelligence and the prospect of monetary easing by majorcentral banks delivering a late-year boost to global stock markets and portfolio returns. We explore in detail the impact of these developments across the global billionaire populationand the changes in cumulative net worth, highlighting the key drivers and regional w