Poland and Scandinavia surge as billionaire hotspots - Knight Frank report
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Over the next five years, the share of European billionaires on the global stage will increase, while America's position will begin to weaken. Over the five-year period, the number of wealthy individuals in Europe is expected to rise from 780 to 994, according to Euronews.
The number of ultra-wealthy people is growing rapidly despite crises and inflation. While in 2021 there were 2,723 billionaires worldwide, by 2026 that number reached 3,110 — a jump of 14% in just five years. However, analysts at Knight Frank forecast an even more aggressive acceleration.
By 2031, the army of billionaires is expected to grow by 26%, to 3,915 individuals.
“We are witnessing one of the most significant shifts in global wealth distribution in modern history," said Liam Bailey, head of global research at Knight Frank.
Poland and Scandinavia lead Europe's growth
Europe is becoming the main engine of capital accumulation. Over the five-year period, the number of wealthy individuals in the region is expected to rise from 780 to 994 — a net increase of 27%.
The most interesting changes are happening within the continent. Poland is literally shocking analysts. The number of billionaires is expected to more than double — from 13 to 29 individuals — representing a record 123% growth for Europe.
The Nordic countries are also showing phenomenal momentum:
- Sweden: 81% growth (to 58 billionaires)
- Denmark: 75% growth (to 21 billionaires)
- Norway: 53% growth (to 26 billionaires)
Also among the fast-growing markets are Austria (50%), Spain (40%), and Italy. Italy, by the way, will have 82 billionaires by 2031, surpassing most of its neighbours in total numbers.
Why America's share is starting to fall
The Asia-Pacific region firmly holds the lead — 36% of global wealth is concentrated there. But North America finds itself in a strange situation: in absolute numbers, the number of wealthy individuals there is growing (from 995 to 1,089 people). However, their share of the global market will fall from 31% to 27.8%, according to the forecast.
It is the only region in the world experiencing such a downward trend. Europe, on the contrary, is bulking up. Its share will rise to 25.4% by 2031.
"What we are seeing on the ground is that wealth creation is rising against a more complex global economic backdrop," explains Rory Penn, head of Knight Frank's private office.
According to him, the ultra-wealthy have become more mobile. However, the list of safe havens for their investments is getting shorter. Modern wealthy families distribute assets between offices in America, Europe, and Asia. It's a matter of capital survival.
Great Britain offers an interesting example. Despite high taxes and political storms, London remains a magnet for money. Why? Because the rule of law works there.
As one Australian mining billionaire put it, for many investors, Europe still looks like a museum rather than a place for investment. But for those who value the rules of the game, European markets remain priority number one.
What else you need to know about money
The National Bank issued a forecast for 2026–2028. It has become known when prices will fall, and GDP will grow.
