Hong Kong is home to the world's second-largest concentration of ultra-high-net-worth individuals (UHNWIs), according to the latest survey by New York-based global wealth intelligence firm Altrata.
The firm's World Ultra Wealth Report 2026 defines UHNW individuals as those with a net worth of at least US$30 million (approximately HK$234 million). The report found that HK had 18,290 UHNW residents, ranking second among global cities and marking a 26.4% increase year-on-year.
The combined wealth of HK's UHNW population reached US$2.1 trillion, placing the city sixth among global economies in terms of ultra-wealth holdings.
According to the report, faster integration between HK and the Mainland, economic restructuring, as well as improving property and financial markets contributed to the significant expansion of both local assets and the city's wealthy population.
Globally, the UHNW population experienced rapid growth in 2025, driven by AI-related wealth creation, shifting geopolitical dynamics and accelerating intergenerational wealth transfers.
The report said total UHNW wealth worldwide increased 14.3% year-on-year to US$63.8 trillion, equivalent to more than twice the size of the US GDP. The global UHNW population rose 14.4% to 556,900 people, representing the fastest growth rate since 2017.
Although UHNW individuals account for only 1.1% of the world's millionaire population, they control 32% of total millionaire wealth, highlighting their substantial economic influence, the report noted.
By economy, the US remained home to the largest UHNW population, with 206,800 individuals, accounting for 37% of the global total and exceeding the combined figure of the remaining top ten economies.
The report said that while political and policy uncertainty in the US had encouraged some investors to diversify portfolios into non-US assets, the country's relatively resilient economy, fiscal and monetary support measures, and technology-driven growth within the world's deepest capital markets continued to fuel expansion of its ultra-wealthy class.
The Chinese Mainland ranked second globally with 55,490 UHNW individuals, followed by Germany with 28,330.
Among cities, New York retained the top position with nearly 24,000 UHNW residents, up 16.9% from a year earlier. HK ranked second with 18,290, while Los Angeles placed third with 12,995, also recording annual growth of 16.9%.
The report attributed HK's sharp increase in UHNW residents partly to the return of cross-border wealth flows.
Measured by total UHNW wealth, HK's US$2.1 trillion placed it sixth among global economies, with the figure, before rounding, only slightly below those of Japan and the UK.
Altrata noted that HK's investment sentiment had previously been dampened by the social unrest linked to the extradition bill controversy and the subsequent enactment of the National Security Law.
However, the report said subsequent financial-sector reforms, investment-market liberalization measures and enhanced connectivity with mainland capital markets helped restore market liquidity and household net worth.
At the same time, the removal of property market cooling measures, coupled with surging demand for high-end wealth management services across Asia, further supported growth in HK's ultra-wealth segment.
The report added that HK remains one of Asia's leading hubs for private banking, family offices and offshore wealth management, reinforcing the continued expansion of its ultra-high-net-worth population.
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