More wealth, less certainty: How investors are adapting

Over the past five years, the number of individuals with a net worth exceeding $30 million has increased from 551,000 to 713,000. This means that around 89 people enter the ultra-wealthy category every day.

Investors shift toward capital preservation

At the same time, the distribution of new capital remains highly uneven. Around 41% of newly created ultra-high-net-worth individuals were generated in the United States, reinforcing its dominant role in the global wealth system. China retains its position as the second major center, although its relative growth is slowing, while India continues to show steady expansion.

As wealth increases, the way it is managed is also changing. Previously, the primary goal was to grow assets, but today the focus is shifting toward preserving capital and allocating it more flexibly. As the report notes, the challenge for private investors is no longer simply to grow wealth, but to preserve, position, and deploy it intelligently.

This shift is driven by rising geopolitical uncertainty, inflationary pressures, and volatile interest rate conditions.

Real estate remains a safe haven, but not everywhere

Prime real estate continues to be one of the key instruments for capital preservation. According to the PIRI 100 index, luxury residential prices rose by an average of 3.2% in 2025, allowing this segment to outperform the mainstream market and confirm its resilience amid economic uncertainty.

However, this moderate figure masks uneven dynamics. Growth is not widespread and is highly selective. The main gains are driven by specific regions and cities where international capital is concentrated. In particular, the Middle East shows one of the strongest performances, with around 9.4% average growth across the region, largely driven by Dubai, where prices increased by more than 25%.

A similar pattern can be observed across a number of global cities. Some markets are seeing sharp spikes, for example, Tokyo, where prices have surged by nearly 60%, while in other developed locations growth remains subdued or close to zero.

Capital becomes mobile, management becomes more active

A key trend is the rising mobility of both capital and investors. Money and its owners are increasingly less tied to a single country. High-net-worth individuals may live in one jurisdiction, invest in another, and hold assets in a third.

The report describes this as a steady increase in the mobility of capital and people, which is directly reshaping global markets. As a result, investments are being reallocated across countries more quickly than before, while governments are competing to attract wealthy residents through tax policies, business conditions, and quality of life.

In practice, capital is increasingly moving based on taxation, risk levels, and living standards.

Investment and consumption patterns are changing

At the same time, the way large fortunes are managed is evolving. Whereas family offices once focused mainly on preserving capital and relied on banks and external advisers, they are now becoming active investment players in their own right.

These structures are increasingly building in-house teams of specialists, from analysts to experts in real estate and private capital. This allows them to make decisions internally, respond faster to market changes, and reduce reliance on external managers.

They are also more frequently partnering with other investors in joint deals to access larger and more complex opportunities. Particular attention is given to so-called value-add investments, where assets can be improved to increase their value through management, redevelopment, or repositioning.

At the same time, diversification is gaining momentum. Capital is increasingly flowing into new sectors that were not traditionally considered core investments. These include data centers, infrastructure linked to artificial intelligence, and a range of alternative assets. Such segments offer access to new sources of return and are less dependent on traditional market cycles.

Despite these shifts, the overall structure of the economy remains unchanged, as the influence of the ultra-wealthy continues to grow. Their role in shaping markets, investment trends, and demand is becoming even more pronounced.

Against this backdrop, consumption patterns are also transforming. The luxury segment is moving away from status-driven spending toward experiences and quality of life. There is growing interest in investments in health, education, personal development, and exclusive services that prioritize comfort and privacy.

Overall, the global wealth market is entering a phase where success depends less on the pace of capital growth and more on the ability to adapt. In an increasingly uncertain environment, investors who can quickly reallocate assets and identify new opportunities are best positioned to succeed.

Earlier, Qazinform News Agency reported that the number of U.S. dollar billionaires worldwide reached a record 4,020 in 2026.