Top 10 countries with fastest billionaire growth by 2031: Saudi Arabia to jump by 183%; check India’s rank

According to the new Knight Frank Wealth Report 2026, projections for 2026-2031 indicate a significant rise in the number of billionaires worldwide. The report highlights the countries expected to witness the fastest growth in the number of billionaires by 2031. The number of dollar billionaires worldwide has been steadily increasing. The global billionaire population rose from 2,723 in 2021 to 3,110 in 2026, marking a 14 per cent increase in five years.

This growth is expected to accelerate in the coming years. Knight Frank’s Wealth Report 2026 predicts that the number of billionaires worldwide will increase by 26 per cent over the next five years, reaching 3,915 by 2031.

Europe is expected to play a major role in this rise. The number of billionaires in Europe is projected to grow from 780 in 2026 to 994 by 2031, showing a 27 per cent increase. The report also identifies the countries expected to see the largest rise in the number of billionaires and compares Europe’s growth with that of the Americas.

The study lists the top 20 countries with the fastest expected growth in billionaire numbers. Eight of these countries are from Europe, with Nordic nations leading the region.

Saudi Arabia ranks first globally in projected increase. Its billionaire population is expected to jump by 183 per cent, rising from 23 in 2026 to 65 by 2031. This sharp rise is linked to Vision 2030, Saudi Arabia’s large economic diversification plan aimed at reducing the country’s dependence on oil. Massive trillion-dollar projects, policies encouraging foreign investment, and rapid growth in sectors such as finance, tourism, and construction are helping create more private wealth in the country.

Poland is expected to lead Europe in billionaire growth. The country’s billionaire count is projected to more than double from 13 to 29, representing a 123 per cent increase. Sweden ranks second in Europe and third globally, with an 81 per cent rise from 32 to 58 billionaires. Denmark follows with a 75 per cent increase, as its billionaire population is expected to grow from 12 to 21.

Norway also strengthens the Nordic region’s strong performance, with the number of billionaires expected to rise from 17 to 26, a 53 per cent increase. Three of Europe’s four fastest-growing countries are Nordic nations.

Austria is projected to record a 50 per cent rise, with the number of billionaires increasing from 12 to 18. Spain is expected to grow by 40 per cent, reaching 53 billionaires by 2031. Italy, another large European economy, is forecast to see its billionaire count climb from 61 to 82.

The rankings are based on five-year percentage growth rates. As a result, major economies such as the UK, Germany, and France are not included on the list. Germany, for example, had the highest number of billionaires in Europe in 2025, with 171, according to Forbes.

When these same 20 countries are ranked by their total billionaire populations in 2031, India comes out on top with 313 billionaires. Australia and Singapore follow with 85 billionaires each. The Asia-Pacific region remains the global leader in the number of billionaires, accounting for 1,116 billionaires, or 36 per cent of the world’s total, in 2026.

The Americas are next with 34 per cent of the global billionaire population, including 31 per cent from North America and 3 per cent from Latin America. Europe accounts for one-quarter of the world’s billionaires.

India ranks 10th on the list of the fastest-growing billionaire populations. The country’s billionaire count is expected to rise by 51 per cent over the next five years.

Top 10 countries with fastest billionaire growth by 2031