Billionaire Census2025 Brian AlsterChief Executive Officer Glenn BrianChief Revenue Officer Manuel BianchiGlobal Head of Sales Olivia LoganVice President, Marketing and Corporate Development Amanda CifoneVice President, Marketing 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 LastreGraphic Designer Gaetano MedullaJunior Graphic Designer © Altrata. October 2025. This publication is for your information only and is not intended as an offer, or a solicitation of an offer, to buy or sellany product or other specific service. All information and opinions indicated are subject to change without notice. Contents 01Executive summary4 02Introduction5 03The billionaire class6Good times for the super rich6An outsized share of global wealth8The ‘just’ billionaire10Industry performance12 04Regional, country and city performance13Regional differences13Top billionaire countries17Top billionaire cities19 05Methodology21 Executive summary The top 15 countries are home to just overthree-quarters of the global billionairepopulation.The US is the dominantcountry and home to a third of the world’sbillionaire class – its population of 1,135billionaires in 2024 rose by 8%. Its leadingcity, New York (ahead of second-rankedHong Kong), has more billionaires thanalmost every country in the world apartfrom China and Germany. Second-rankedChina saw its billionaire numbers grow by amore measured 5.6% to 321. It was followedby Germany, which grew by 8.2% to reach atotal of 184 individuals. The global billionaire population grewby 5.6% in 2024 to reach a new high of3,508 individuals.This was the strongestexpansion since 2020, with wealth holdingsbolstered by another year of robust equityreturns. The total net worth of the billionaireclass surged by 10.3% to a record $13.4tn.This implied a third consecutive year ofrising average billionaire wealth, althoughthe gains were heavily concentrated amongan exclusive group of 26 ‘super billionaires’with individual fortunes in excess of $50bn. The 26 super billionaires account fora combined 21% of total billionairewealth, up from 4% a decade ago.Mostbillionaires reside within the ‘lower’ wealthtiers – over half of the world’s 3,508richest individuals have a net worth ofbetween $1bn and $2bn. A further thirdof billionaires each have a net worth of$2bn to $5bn. Bracketed together, thisgrouping of 83% of the global billionairepopulation holds a combined 38% oftotal billionaire wealth. A mere 17% ofbillionaires have more than $5bn butcommand 62% of all billionaire wealth. North America reinforced its status asthe world’s leading billionaire region.Thenumber of billionaires rose by 7.8% from ayear earlier to 1,198 individuals, lifting NorthAmerica’s global share to 34%. The numberof billionaires in Europe passed the 1,000threshold for the first time – above-averagepopulation growth of 6.1% consolidatedEurope’s position as the world’s second-largest billionaire region, with a 29%share. Asia lost ground to its peers fora third consecutive year, registering abelow-average 2.6% rise in its billionairepopulation to 827 individuals, with a variedperformance across regional markets. On average, in each of the past three years,around a 10th of the individuals who wereworth between $1bn and $2bn the previousyear fell out of the billionaire club.Thisshare declines among those with largerfortunes. Billionaires with at least $4.2bnhave a 99% likelihood of maintaining theirmembership of the billionaire club thefollowing year. Those with a net worth of$1bn-$2bn, whose primary business focuswas a publicly owned company, weremore than twice as likely to drop out ofthe billionaire club than individuals with aprivately owned enterprise. This highlightsthe exposure of portfolio valuations topotentially volatile shifts in stock marketsentiment or sector-specific downturns. Those in the billionaire class of 2015 whosewealth was primarily tied to technology orthe hospitality and entertainment sectorhave enjoyed by far the strongest gains in networth over the past decade.Tech billionairesincreased their wealth by almost 200% overthe 10-year period to 2025, followed by thosein hospitality and entertainment, whosefortunes grew by almost 150%. These gainswere significantly greater than in all othersectors, underlining the significant variationsin wealth generation that can occur acrosssectors based on the megatrends of aparticular period. Introduction Altrata’s latestBillionaire Census– the 12th edition – offers a comprehensive overview and analysisof the world’s billionaire population. Modest in size, but wielding an increasingly disproportionateinfluence across global markets and society, the billionaire class holds an immense level of wealth.2024 was another year of dynamic gains in billionaires’ collective net worth, which is now valued i