From Jets to Yachts: The Luxury Assets of the World's Ultra-Wealthy in 2022

Altrata counted the number of luxury items owned by the world's ultra-high-net-worth (UHNW) individuals in 2022.

Ultra-high-net-worth individuals are defined as those with assets exceeding US$30 million or Rp472.35 billion (assuming an exchange rate of Rp15,745 per US$).

Altrata detailed the ownership of these items based on the category of ultra-high-net-worth individuals. Corporate executives purchased the most luxury goods, including private jets, yachts, artwork, and other luxury cars and vehicles.

Private jets were most commonly owned by UHNW corporate executives, with 62 out of every 100 UHNW private jet owners belonging to this group. Entrepreneurs owned 25, single inheritors owned 7, and others owned 6.

Yachts were most commonly owned by 45 UHNW corporate executives. Entrepreneurs owned 40, single inheritors owned 5, and others owned 10.

Altrata noted that the private jets and yachts counted were valued at US$5 million each. However, it's important to note that ownership could be full or fractional (shared).

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

For art collections valued at a minimum of US$5 million, entrepreneurs owned the most, with 42 out of every 100 UHNW art collectors. Corporate executives owned 38, single inheritors owned 8, and others owned 12.

Finally, for luxury cars and vehicles valued at a minimum of US$200,000, entrepreneurs owned the most, with 48 out of every 100 UHNW owners of luxury vehicles. Corporate executives owned 31, single inheritors owned 6, and others owned 15.

Altrata noted that corporate executives represent the largest group within the UHNW category. Therefore, it's unsurprising that they own the most luxury assets.

"This is particularly true for private jets, which often serve a dual purpose for business and leisure, with executives accounting for 62 out of every 100 UHNW jet owners," Altrata wrote in its *World Ultra Wealth Report 2023*.

However, Altrata also highlighted that although some groups own fewer luxury goods, their role remains significant, and their average wealth is substantial enough to afford these expensive items.

"Among art collectors, single inheritors also play a small but important role," said Altrata.

Furthermore, regardless of primary ownership, partners and others, family members are always involved in high-end purchase decisions. "And this must be incorporated into the marketing strategies of luxury goods providers," said Altrata.

*Disclaimer:* This article was updated on Tuesday, February 12, 2025, at 3:51 PM WIB. The currency conversion in the second paragraph was changed from Rp4.72 trillion to Rp472.35 billion.

(See also: Majority of the World's Ultra-Wealthy Gained Their Wealth from Independent Businesses in 2022)