Global CitizensEntrepreneurship, Mobilityand the Ultra Wealthy Tom WoodwardChief Financial Officer Armand ArtonCEO and Chairman Glenn BrienChief Revenue Officer Hrant BoghossianChief Marketing Officer Olivia LoganVice President, Marketingand Corporate Development Acknowledgments We would like to thank the following individuals(listed alphabetically) for their valuablecontributions to our research, adding both textureand deeper insight: Maya ImbergSenior Director, Head of Thought Leadershipand Analytics Maeen ShabanDirector of Research and Analytics Karim GharbiFounder and Managing DirectorThe VIP Global Brin SullivanContent Marketing Manager Yann MrazekManaging PartnerM/HQ DesignGaetano MedullaJunior Graphic Designer Benedict TexeiraGroup Chief Operating Officer at Dubai, Abu Dhabi,UK and Saudi Arabia Sotheby’s International Realty Sponsored by © Altrata. April 2026. Contents 01Executive summary102Foreword203Introduction304Immigrants and entrepreneurship405The wealthy around the world606The wealthy and mobility907Today’s foreign-born wealthy – key takeaways1108Today’s foreign-born wealthy – a deeper dive1309Destination profiles17US (North America)18Dubai (Middle East)20London (Europe)22Singapore (Asia)2410Methodology2611About Arton Capital2712About Altrata28 Executive summary The global ultra wealthy populationcontinues to increase in number.By2030, the UHNW population is forecast toreach 734,100 individuals, up by one thirdfrom 2025, with a combined net worthof $84tn. This growth will be poweredby a continuation of global structural‘megatrends’, such as digital innovation,urbanization, an expanding consumer classacross emerging markets, and an uptick inintergenerational wealth transfers. Foreign-born individuals featureprominently among the members oftoday’s ultra high net worth (UHNW)population,each of whom has a net worth in excess of $30m. Their presence reflectsthe increasing mobility of the globalaffluent and the role of migration in drivinginnovation and wealth creation. Theseindividuals were born outside the countrywhere they now reside and where theirprimary business is located. A fifth of the global UHNW population isforeign born.Shares differ across markets,with relatively high concentrations inSwitzerland, the UK, Singapore, the UAE,and Monaco. In the US, foreign-bornindividuals account for 13% of the UHNWcohort. Among the global billionaire set,one in every five is foreign born. Increasing mobility and connectivity aredefining features of the ultra wealthy.Close to a fifth of the UHNW populationowns (or part-owns) commercial interestsheadquartered outside their primarycountry of residence and more than a thirdhas obtained a higher education degreeoutside of their country of birth. Entrepreneurialism is a prominent traitof the foreign-born ultra wealthy.Around79% have created their own fortunes and afurther 16% have cultivated their net worththrough a combination of inheritance andself-created wealth. Almost a quarter havea primary industry focus in banking andfinance, with additional representationacross business and consumer servicesand technology, among others.Demographically, the cohort is highly maledominated, with a slightly younger averageage than UHNW individuals born locally. The characteristics of foreign-bornUHNW individuals vary across wealthhubs.The US hosts a large and diversepopulation that is predominantly selfmade; Dubai’s cohort is relatively youngwith a broad industry mix; Londonexhibits a strong concentration infinancial services; and Singapore’scohort is older on average and rooted infinancial services. These patterns reflectdifferences in local economic structures,regulation, lifestyle and their own specificappeal to entrepreneurs and the wealthy. Foreword We are entering a new era of global wealth. Mobilityis no longer a secondary consideration in wealthplanning. It is a defining advantage. In a world marked byfragmentation and volatility, the ability to live, invest, andoperate across jurisdictions has become a core pillar ofboth asset preservation and wealth creation. This report highlights a structural shift in where wealthis created, and where it chooses to reside, that has beenbuilding for over a decade. Today, nearly a fifth of theworld’s most dynamic wealth creators were born outsideof their chosen country of residence. They are entrepreneurs, innovators, and investors whohave crossed borders not out of necessity alone, butin pursuit of opportunity. In doing so, they have builtpersonal fortunes and are reshaping the global economy. Armand Arton CEO and Chairman |Arton Capital Ultra high net worth individuals no longer rely on a single system, market, or passport. They buildresilience through diversification. Just as a wealth manager constructs a portfolio of diversifiedassets, the wealthy are now building portfolios of access. These are realised through theacquisition of multiple passports and residencies. What was once considered a