The country now has 1,233 individuals with wealth of at least US$30 million, and the figure is expected to reach 1,960 by 2031, according to a recent forecast by London-based property consultancy Knight Frank.
Global ultra-high net worth growth over the next five years is “not being led by the usual suspects, but by rapidly maturing economies,” it said.
“Vietnam’s near 60% rise underlines the speed at which new centers of wealth are forming across Southeast Asia.”
Another country in the bloc, Indonesia, is forecast to lead the world in growth at 82%. It is expected to have 6,966 people with at least $30 million in net worth by 2031, compared to 3,833 now.
Saudi Arabia and Poland are in the third and fourth place, respectively, both with a forecast expansion rate of 63%.
Among the top 20, five are in Southeast Asia, with the other representatives being the Philippines (ranking 9th), Singapore (10th) and Thailand (17th).
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People shop in a mall in Hanoi, November 2025. Photo by VnExpress/Hoang Giang |
Singapore is home to the largest ultra-high net worth population in Southeast Asia, counting 7,171 individuals. The number of UHNW people in the city-state has increased by 54.5% over the last five years and is projected to climb to 10,497 by 2031.
“Despite the competition, Singapore continues to stand out, cited by respondents as a ‘necessary’ hub location,” the report says.
Globally, the U.S. and China lead in ultra-high net worth populations, with 251,352 and 121,677 individuals, respectively.
The U.S. also dominates in terms of wealth creation, accounting for about 41% of newly minted ultra-wealthy people over the last five years.
