The world’s richest people lost a combined $10tn (£8.3tn) last year as they suffered a triple shock – energy, economic and geopolitical.
The 218,000 people classed as “ultra-high net worth individuals” (UHNWIs) saw their combined fortune fall by 10% from $101.5tn in 2021 to $91.4tn in 2022, according to Knight Frank’s wealth report published on Wednesday. It is the biggest annual decline in the fortunes of the super-rich since the annual study was first published in 2010.
