The latest Wealth Report by Knight Frank highlights that India’s ultra-rich population is expected to rise from 19,907 in 2026 to 25,297 by 2031, a 27% increase and at the same time, the country’s billionaire count is projected to increase from 207 to 318, a rise of 54%. The report considers individuals with USD 30 million as UHNWIs.
This growth in the number of UHNWIs and billionaires’ points to the potential of sophisticated investors seeking alternatives, private markets, PMS, AIFs, SIFs and global diversification strategies.
Here are the key highlights of the report.
Fastest-growing UHNWI markets (USD 30 million+ net worth)
The data highlights that India may not be the fastest-growing market but it is becoming one of the largest pools of wealthy investors.
India’s UHNWI population is projected to grow by 27%, which looks modest compared to Indonesia (82%) or Saudi Arabia (80%). However, India is starting from a much larger base and will add nearly 5,400 new UHNWIs, which is one of the highest absolute additions globally.
Here is the complete list for top 20 countries;
Rank
Country
2026
2031
Growth
1
Indonesia
3,333
6,066
82%
2
Saudi Arabia
4,303
7,762
80%
3
Poland
3,017
4,906
63%
4
Vietnam
1,233
1,990
59%
5
Australia
16,460
26,096
59%
6
Sweden
6,845
10,633
55%
7
United States
251,342
387,422
54%
8
Romania
740
1,120
50%
9
Philippines
1,910
2,844
49%
10
Singapore
7,171
10,428
45%
11
UAE
4,153
6,430
38%
12
Norway
2,460
3,296
34%
13
Canada
12,930
16,776
30%
14
New Zealand
1,710
2,191
28%
15
India
19,907
25,297
27%
16
Israel
5,442
6,899
27%
17
Thailand
2,163
3,582
26%
18
Greece
910
1,140
25%
19
Hong Kong SAR
6,718
8,405
25%
20
Germany
38,215
47,004
23%
Source: Knight Frank Wealth Report
Fastest-growing billionaire populations
The data indicates that India is already a billionaire powerhouse and is getting bigger. India will add 111 billionaires in five years, while countries such as Saudi Arabia and Poland show higher percentage growth, India’s starting base is far larger.
Here is the complete list;
Rank
Country
2026
2031
Growth
1
Saudi Arabia
23
65
183%
2
Poland
13
29
123%
3
Sweden
22
40
81%
4
Australia
48
85
77%
5
Denmark
12
21
75%
6
Japan
43
71
65%
7
Mexico
24
39
63%
8
Philippines
16
26
63%
9
Norway
17
26
53%
10
India
207
318
54%
11
Austria
12
18
50%
12
Indonesia
29
40
40%
13
South Africa
10
14
40%
14
Spain
38
53
40%
15
Malaysia
13
18
38%
16
Singapore
63
86
37%
17
Italy
61
82
34%
18
Canada
49
65
33%
19
Turkey
35
46
31%
20
Brazil
51
67
31%
Source: Knight Frank Wealth Report
Global scenario
Knight Frank forecasts global UHNWI numbers to increase by 32.9% between 2026 and 2031. North America is expected to record the strongest regional expansion at 53%, followed by the Middle East (32.1%) and Asia-Pacific (24.3%).
Cafemutual is set to host the Bangalore edition of its flagship passive investing event, the Cafemutual SIF Summit, on Thursday, June 24, 2026, at The Chancery Pavilion, Bangalore.
The summit will present a comprehensive view of SIFs, covering their structure, regulatory evolution, distribution frameworks, and long-term role in India’s financial landscape. It will bring together asset managers, distributors, wealth advisors, and regulators to discuss and shape the future of this new asset class.
Secure your seat today for the Cafemutual SIF Summit 2026, Bangalore, by clicking here: https://www.cafemutualevents.com/
Like what you are reading?
development, success stories and industry updates.
Don’t worry … it’s FREE!
