August 12, 2025 – Michael S. Fischer, ThinkAdvisor
he global population of ultra-wealthy individuals stood at some 483,500 in 2024 and is projected to grow by more than a third to 654,900 by 2030, according to a new report from Altrata.
As their numbers increase, the residential footprint of individuals with a net worth of $30 million or more is becoming increasingly international and diversified, the report said.
These owners of three known luxury residences per individual, on average, represent opportunities for wealth managers, as well as the real estate and luxury services sectors.
Wealthy individuals spend most of their time in their primary residence, which tends to be in reasonably close proximity to their core business interests. Other factors come into play, however, when they buy a secondary (additional) luxury home.
These may include having a property near an important ancillary business or operation; leisure and recreation purposes; as a base for family members while in education; for specific investment aims; for personal security and discretion; as a step toward gaining citizenship or permanent residency of a country; and a personal interest in luxury real estate.
More often than not, these factors are not mutually exclusive, the report said.
The largest global cities and their prime real estate neighborhoods continue to attract ultra-wealthy individuals, but Altrata noted that this situation is not static.
Socioeconomic trends, the rising connectivity of the global elite and the ebbs and flows of wealth creation and destruction have also drawn the wealth to a wide range of smaller urban centers, mountain retreats, coastal resorts and emerging hotspots around the world.
Dubai is a new entry to Altrata’s top 10 non-U.S. cities ranking among secondary-home owners, driven by its favorable tax environment, growing luxury real estate sector and attractive residency programs like the Emirati Golden Visa.
Monaco leads globally in rich population density, with 1 in 22 residents classified as ultra-wealthy. Aspen, Colorado, is the densest U.S. location, with one ultra-wealthy individual for every 77 residents.
Altrata’s report is based on two of the firm’s products: the Wealth-X Database, a collection of curated research and intelligence on the wealthy, and RelSci’s Relationship Mapping Database.
See the accompanying gallery for the 12 global cities with the largest number of ultra-wealthy individuals with a primary residence or secondary home in the location.
Read the original published article here.