Europe's billionaire count set to outpace US growth by 2031

A Knight Frank wealth report projects the global billionaire population to rise from 2,723 in 2021 to 3,110 in 2026 and to 3,915 by 2031, a 26 % increase. Europe’s share of billionaires is expected to grow modestly, from 780 in 2026 to 994 in 2031 (27 % rise), while the United States will see a slight share decline despite an absolute number increase.

Nordic and Central European nations drive the European surge. Poland is forecast to double its billionaire count from 13 to 29 (123 % rise). Sweden, Denmark, Norway, Austria, Spain and Italy also see strong growth, with Sweden projected to reach 58 billionaires (81 % increase) and Italy 82 (34 % increase). Saudi Arabia leads globally with a 183 % jump, and India is expected to have the most billionaires worldwide in 2031 (313). Knight Frank’s global research head Liam Bailey says the data shows “one of the most significant changes in the global distribution of wealth in modern history.”