The country’s figure accounted for 0.2% of the global number, according to The Wealth Report 2025 released earlier this month by data researcher Knight Frank.
In the six countries surveyed in Southeast Asia, Singapore led with 9,674 people owning $10 million, followed by Thailand (9,192) and Indonesia (8,120).
The list continued with Malaysia (7,490), the Philippines (5,748) and Vietnam.
The U.S. topped the world in number of individuals possessing $10 million at over 905,400, accounting for almost 40% of the global figure.
“No other country is as successful at creating homegrown wealth or attracting migrant ultra-high net worth individuals. For luxury homes, private jets and super-yachts, what happens in the U.S. shapes global markets,” the report said.
While the global economy slowed through 2024, the U.S. wealth market trends helped prop up investor confidence.
The trends powering wealth creation in 2023, including growth in financial markets led by equity markets and the bitcoin run, continued, the report said, adding that despite geopolitical tensions, resilient global trade further contributed to growth.
Mainland China came second in wealth population at 471,600, and Japan ranked third at 122,100.
Knight Frank noted that while North America and Asia remain central to global affluence, Africa’s young population, rich natural resources and improving infrastructure position it as a future leader in wealth generation.
Globally there were 2.34 million people with $10 million net worth or more last year, up 4.4% from 2023.
