What are The Richest People Investing in 2024?
Discover what are the richest people investing in 2024. A total of $483 billion is waiting to be invested. Find out where the smart money is going.
The global ultra-wealthy population is on the rise, with a total of $483 billion (€443.5 billion) waiting to be invested in 2024. According to a report by real estate consultancy firm Knight Frank, the number of ultra-high-net-worth individuals (UHNWIs) - those with a net worth of $30 million (€27.6 million) or more - has increased to 626,619 from 601,300 in the previous year. This growth can be attributed to increased investment in shares, a robust performance of the US economy, and a rise in the value of equity markets.
North America saw the highest growth in the number of ultra-wealthy individuals, followed by the Middle East, while Latin America experienced a decline. Despite a challenging year in 2023, the wealthiest individuals are looking to invest in strategic sectors such as technology, energy, and defense in 2024. The property market is also expected to recover, with a focus on prime residential properties and commercial real estate.
AI and climate change are becoming increasingly important factors in real estate investments, with a shift towards AI-related projects and a focus on sustainability. The impact of climate change on the property market is evident, with a growing demand for properties in low-risk areas and energy-efficient buildings.
Luxury collectibles such as rare whisky, classic cars, handbags, and furniture are experiencing a decline in the market, while art, jewelry, and watches continue to rise. The growth in wealth is expected to come from Asia, particularly India and the Chinese mainland, with younger individuals showing more confidence in their wealth growth.
Overall, the wealthiest individuals are optimistic about their wealth growth in the coming years, with women's share of the wealthiest population increasing. The future looks bright for the ultra-wealthy, with opportunities for growth and investment on the horizon.
What are The Richest People Investing in 2024?
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