One in every 176 Hongkongers is estimated to have a net worth of more than US$10 million, making the city the world’s 10th largest wealth hub last year, according to a report from Knight Frank.
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There were an estimated 42,715 high-net-worth individuals (HNWIs) in Hong Kong last year, making up around 0.6 per cent of the city’s population of 7.53 million, according to the Census and Statistics Department.
With an estimated 2.34 million HNWIs in the world, Hongkongers made up about 2 per cent of this class, the property consultancy said in the 19th edition of its Wealth Report on Wednesday.
The report said the US led the world with 905,413 HNWIs, accounting for 38.7 per cent of the global total, followed by mainland China with 471,634, taking up 20.1 per cent. Japan came in third with 122,119 HNWIs, or 5.2 per cent of the global share.
In 2024, the report said, Hong Kong ranked eighth in the world in new billionaires; the top three were the US, mainland China and India. Hong Kong ranked sixth on the list in 2019 and in 2014, it was 10th.
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In terms of the wealth held by billionaires, Hong Kong had US$330 billion, ranking seventh in the world. The US’ billionaires held US$5.7 trillion, followed by China with US$1.34 trillion.
“This underscores Hong Kong’s significant economic influence and its role as a key financial centre in Asia,” said Martin Wong, senior director and head of research and consultancy for Greater China at Knight Frank.