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KUALA LUMPUR: Malaysia is expected to gain five more billionaires and over 300 additional wealthy individuals within the next five years, according to Knight Frank’s Wealth Report. 

By 2031, the country could have 18 billionaires and around 1,881 ultra-high-net-worth individuals with assets above US$30 million.

The report links this growth to Malaysia’s steady economic expansion, relatively strong ringgit performance, and an active capital market despite global uncertainty. 

Keith Ooi of Knight Frank Malaysia noted that these factors are driving local wealth creation.

On a global scale, the report highlights rapid wealth accumulation, with an average of 89 new ultra-high-net-worth individuals added daily between 2021 and 2026. 

Liam Bailey, Knight Frank’s global head of research, described the trend as a major shift in global wealth distribution, showing strong resilience of private capital even amid geopolitical tensions and inflation.