Saudi Arabia is set to lead the world in terms of the growth rate of its billionaire population
This is according to an article by Visual Capitalist based on data from Knight Frank’s Wealth Report 2026.
Saudi Arabia could become the world leader in terms of the growth rate of billionaires over the next five years.
According to Knight Frank’s Wealth Report 2026, the number of billionaires in the country could rise from 23 in 2026 to 65 in 2031.
This represents an increase of 183%.
Visual Capitalist notes that this trend is linked to the country’s economic transformation under the Vision 2030 strategy, which aims to reduce Saudi Arabia’s dependence on oil.
The growth in private capital is driven by large-scale infrastructure projects, incentives for foreign investors, and the development of finance, tourism and construction.
Who else is on the list
Poland ranks second in the forecast.
The number of billionaires in the country could rise from 13 in 2026 to 29 in 2031, an increase of 123%.
The report notes that Poland’s growth is linked to the development of advanced manufacturing and the country’s role as a regional investment hub.
As supply chains are shifted closer to Europe, countries situated between Western Europe and emerging markets may attract more capital.
Other countries with the fastest projected growth include Sweden, Australia, Denmark, Japan, Mexico, the Philippines, Norway and India.
India could exceed 300 billionaires
India is among the top ten countries with the fastest growth in the number of billionaires.
According to the forecast, their number could rise from 207 in 2026 to 313 in 2031.
That is an increase of 51%.
Visual Capitalist explains that India is creating new wealth through the development of technology, infrastructure, manufacturing and the domestic consumer market.
It is also noted that the Indian start-up ecosystem has already created over 100 ‘unicorns’.
How the map of major fortunes is changing
Countries in South-East Asia are also prominent in the ranking.
Indonesia could increase its number of billionaires from 33 to 49, a rise of 49%.
Malaysia – from 13 to 18, or by 39%.
This growth is attributed to the relocation of manufacturing, a young population and an increase in foreign investment.
The list also includes Singapore, Italy, Canada, Turkey and Brazil.
Why the US did not top the ranking
The US remains one of the main centres of global wealth and a country where many of the largest companies are concentrated.
However, it does not lead the ranking for fastest growth due to its large existing base.
In developed economies, percentage growth is usually lower because the number of billionaires is already very high.
At the same time, Knight Frank forecasts that the number of Americans with a net worth of $30 million or more will rise by 54% by 2031.
Follow us on Telegram
