Keypoints
- Africa’s UHNW population reached 3,440
- Combined wealth rose to about $400bn
- Ultra-rich population could reach 5,200
AFRICA recorded the world’s fastest growth in its ultra-high-net-worth population in 2025, as improving financing conditions, stronger currencies and investment linked to critical minerals increased the value of private fortunes across the continent.
Africa’s population of residents worth more than $30m rose by 23.7 percent to 3,440, according to the World Ultra Wealth Report 2026, published on June 23 by Altrata, a global wealth intelligence and data company.
The findings point to accelerating ultra-wealth gains across the continent and reinforce forecasts of a sharp rise in Africa’s millionaire population over the coming decade. However, Africa still accounted for only 0.6 percent of the global ultra-high-net-worth population and 0.7 percent of its combined wealth.
Wealth rises to $400bn
The combined wealth of Africa’s ultra-rich increased by 22.4 percent to about $400bn during 2025, giving the continent the strongest regional rise in ultra wealth.
Altrata attributed the expansion mainly to more favourable financing conditions, the appreciation of several African currencies against the US dollar, faster digital transformation and investment driven by rising global demand for critical minerals.
The continent’s mineral reserves are attracting stronger international interest as governments, companies and global powers compete for access to Africa’s leading critical-minerals investment hotspots.
These factors helped Africa outperform every other major region in ultra-high-net-worth population growth.
Asia recorded an increase of 15.8 percent, while North America grew by 15 percent and Europe by 14.5 percent.
Africa’s sharp increase partly reflects its comparatively small starting point. The continent remained the world’s smallest ultra-wealth region despite recording the strongest percentage growth during the year.
The rise also does not necessarily mean that all the additional individuals created entirely new fortunes in 2025. Changes in asset values, currency movements, business valuations, migration and residency can also affect regional wealth estimates.
Africa leads outlook to 2030
Altrata expects Africa to remain the fastest-growing ultra-wealth region through 2030.
The continent’s ultra-high-net-worth population is forecast to expand at an average annual rate of 8.4 percent, ahead of the Pacific region at 8 percent, Latin America and the Caribbean at 6.9 percent, Asia at 6.5 percent, North America at 6.1 percent and Europe at 5.6 percent.
At that pace, Africa could be home to about 5,200 residents worth more than $30m by the end of the decade, up from approximately 3,400 in 2025.
The expansion is expected to be supported by large-scale infrastructure development, sustained international demand for commodities, expanding consumer markets and continued technological change, including Africa’s accelerating artificial intelligence and digital transformation.
However, the continent’s growth prospects will also depend on whether governments and financial institutions can direct domestic savings into productive sectors.
Africa has accumulated substantial pools of institutional capital, but more than $2tn in domestic capital still struggles to reach infrastructure and industry because of weak financial intermediation, regulatory obstacles and a shortage of investable projects.
Even with its projected momentum, Africa’s share of the worldwide ultra-rich population is expected to remain below 1 percent by 2030.
That projection highlights the scale of the divide between Africa and established wealth centres in North America, Europe and Asia, where larger financial markets and concentrations of inherited and corporate wealth continue to dominate.
Global fortunes reach record high
Worldwide, the number of ultra-high-net-worth individuals rose by 14.4 percent to a record 556,850 in 2025, marking the fastest annual increase since 2017.
Their combined wealth climbed by 14.3 percent to $63.8tn.
Altrata said global portfolios benefited from easing inflation, continued fiscal and monetary support, resilient corporate earnings and sustained investor enthusiasm for artificial intelligence.
The US remained the world’s largest ultra-wealth hub, with 206,880 residents worth more than $30m, representing about 37 percent of the global total.
China ranked second with 55,490 ultra-high-net-worth individuals, followed by Germany with 28,330, Japan with 22,435 and the UK with 20,495.
By 2030, the global ultra-high-net-worth population is forecast to reach 746,570, an increase of almost 190,000 from 2025.
Their combined wealth is projected to grow by about one-third to $85tn.
Africa’s projected expansion therefore represents a significant shift in the pace of global wealth growth, although not yet in the continent’s overall influence.
Its ultra-rich population is increasing faster than that of any other region, but Africa’s share of the world’s largest private fortunes remains exceptionally modest.
