Most of the World's Ultra-High-Net-Worth Individuals Made Their Fortunes Through Self-Made Efforts in 2022

Altrata research shows that the majority of ultra-high-net-worth individuals (UHNWIs) acquired their wealth through self-made endeavors.

UHNWIs are individuals with assets exceeding US$30 million or Rp472.35 billion (assuming an exchange rate of Rp15,745 per US$).

Altrata reports that 72.6% of the UHNWIs studied across 70 countries accumulated their wealth through independent means. This includes entrepreneurship or executive positions in companies.

Meanwhile, 20.7% derived their wealth from a combination of entrepreneurship and inheritance. Inheritance alone accounted for the smallest proportion, at 6.7%.

Broken down by business type, the proportion of UHNWIs who are entrepreneurs is 85.2%, and the proportion of those with a combination of entrepreneurship and inheritance is 14.8%. For UHNWIs in executive positions, the figures are 75.9% and 24.1% respectively.

Altrata notes that North America has the highest number of ultra-high-net-worth individuals who have built their wealth independently, both as company executives and entrepreneurs.

The proportion of entrepreneurs is 90%, and the combination of entrepreneurship and inheritance is 10% among UHNWIs in this region. For company executives, the figures are 83% and 17% respectively.

"North America has the highest proportion, at 90%, of entrepreneurs who are entirely self-made, while the Middle East has a significantly lower proportion, at 61%," Altrata wrote in its *World Ultra Wealth Report 2023*.

Disclaimer: This article was updated on Tuesday, February 12, 2025, at 3:52 PM WIB. The currency conversion in the second paragraph was changed from Rp4.72 trillion to Rp472.35 billion.

(Read also: 10 Countries Home to the World's Ultra-Wealthy in 2022)