Who's Buying Now?
Who Can? Who Will? Luxury Buyer pool for Luxury Homes
Not as big as we think
Global Wealth Distribution by Net Worth Band (Near-Liquid Assets)
Global High-Wealth Population (2024):
Recent data indicate that only a small fraction of the world’s adults hold near-liquid net worth (excluding primary homes and private businesses) above $5 million. As of 2024, approximately 2.4 million individuals globally have investable net worth over $5 million, representing just over 10% of all millionaires. Despite their small numbers, this cohort controls an outsized share of wealth — around 57% of total millionaire wealth. In mid-2024, global data also revealed that the top 1.5% of adults (about 58 million millionaires) held nearly half of global household wealth, underscoring the massive concentration of capital at the top.
Global Population by Net Worth Bands
Breaking down the wealthy by net worth tiers shows a steep drop-off in population at higher levels. While definitions vary slightly between sources, the following estimates represent the most current and credible data as of 2024:
$5–10 million: Approximately 2.5 to 3 million individuals globally. This range captures the lower segment of the “very high net worth” category. These individuals typically hold significant financial assets such as stocks, bonds, and other liquid instruments. This tier has grown over the last decade in response to asset price appreciation and global wealth expansion.
$10–20 million: Roughly 1.0 to 1.5 million individuals. These investors are often senior corporate executives, second-generation wealth holders, or high-earning professionals with diversified financial portfolios. They represent a significant share of those with investment-grade wealth but fall below the threshold of the ultra-wealthy.
$20–30 million: Estimated in the low hundreds of thousands worldwide. These individuals are typically business founders who have partially exited, family office clients, or holders of mature, appreciating asset portfolios. This group marks the transition between high-net-worth and ultra-high-net-worth tiers.
$30–50 million: Around 200,000 individuals. This band represents the lower portion of the ultra-high-net-worth (UHNW) class. Many individuals in this range maintain multiple residences, complex investment structures, and active involvement in philanthropy or private equity.
$50 million and above: Estimated at 200,000 to 250,000 individuals globally. This elite group includes centimillionaires and billionaires. They control a disproportionately large share of global wealth. Approximately 100,000 of them are believed to have $100 million or more. This segment plays a dominant role in private markets, art, real estate, and global finance.
But they can still have fun.
Regional and Country-Level Breakdown
Wealth distribution is highly concentrated in a few countries and regions:
United States
The U.S. remains the global leader in both the number and concentration of multimillionaires. Nearly 40% of individuals with net worths above $10 million reside in the United States, including approximately 905,000 people in this wealth band. The U.S. also dominates the billionaire population, with over 30% of global billionaires and 40% of global billionaire wealth.
China
China ranks second globally, with about 472,000 individuals holding net worths above $10 million. The country has experienced explosive growth in private wealth over the last two decades. Despite recent regulatory and market challenges, China remains a dominant force in Asia’s wealth landscape.
Europe
Europe hosts a significant share of the world’s high-wealth individuals, although they are spread across many countries. Major economies like Germany, the UK, and France each support tens of thousands of individuals with $10 million or more. Western Europe overall represents nearly 28% of the world’s total millionaire population.
Japan and India
Japan ranks third in the global rankings, with around 122,000 people holding more than $10 million in net worth. India, though smaller today, is one of the fastest-growing wealth markets in the world. Recent data suggests over 85,000 individuals in India fall above the $10 million threshold.
Middle East and Others
The Middle East represents a smaller portion of the global ultra-wealthy population, with under 1,000 individuals exceeding $30 million. However, the region is notable for its unusually high density of individuals with $100 million or more, concentrated in major financial and energy hubs. Other significant players in wealth accumulation include Canada, Australia, Brazil, and Russia, each of which maintains a healthy share of multimillionaires and centimillionaires.
Summary
Global near-liquid wealth is highly concentrated. As of 2024:
Roughly 2 to 5 million adults have investable net worth between $5 million and $30 million.
About 500,000 people qualify as ultra-high-net-worth individuals (over $30 million).
Only around 200,000 to 250,000 individuals have net worths exceeding $50 million.
For Luxury Real Estate Professionals this is your buyer pool from $5,000,000 and up in relatively liquid net worth.
Rule of Thumb. Very few people will put 30% or more into one single real estate holding and those that do that might just represent the ONE OTHER HOME.
at $5M Liquid the second home might be $1,500,000 in value or if they like leverage could range up
At $30M Liquid the second home might be as much as $9,000,000 and they are more likely to use some kind of secondary financing including Asset Backed loans
You can do the math from here.
North America, particularly the United States, leads the world in wealth concentration, followed by China and Europe. The composition of wealth is increasingly financial and liquid, favoring those with direct access to capital markets, private equity, and global investment flows.
This distribution underscores the structural inequalities and growing segmentation within the global wealth landscape — but also reveals the significant economic and social influence of a relatively small number of individuals worldwide.