ECONOMY | Staff Reporter, Hong Kong

Hong Kong's ultra wealthy population breaches 5,000

The ultra wealthy population is expected to grow by another thousand by 2025.

The number of people with a net worth of more than US$30m, known as ultra-high-net-worth individuals (UHNWIs), grew in Hong Kong in 2020.

In the latest The Wealth Report, real-estate consultancy Knight Frank reported that the population of UHNWI in Hong Kong was at 5,042 in 2020, a 13% increase from the 4,447 recorded in 2019.

This population is projected to grow by more 26% in 2025, with 6,341 ultra wealthy individuals.

The 2025 forecast is almost double the 3,408 recorded a decade earlier.  

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