India’s wealthy are increasingly looking beyond borders—and they’re not alone. A new global report shows that 1 in 5 ultra-high-net-worth individuals (UHNWIs) is foreign-born, highlighting a growing trend where wealth is no longer tied to one country but built across multiple geographies.
The report titled ‘Global Citizens: Entrepreneurship, Mobility and the Ultra Wealthy’, sponsored by investment migration consultancy Arton Capital, has also found that the UHNW population is set to increase by a third (33 per cent) to reach 734,100 by 2030.
Point to note: *Ultra High Net Worth defined as individuals with more than $30m in net worth.
Interestingly, India ranks as the top country of birth among the foreign-born ultra-wealthy living in the US, highlighting the growing global influence and mobility of Indian wealth.
Foreign-born wealthy are defined as individuals with more than $30m in net worth who were born outside the country in which they now reside and where their primary business (if they have one) is based.
India at the centre of global wealth migration
One of the clearest signals of India’s growing global wealth footprint is its presence across major international wealth hubs.
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In the US, India is among the top birth countries of foreign-born ultra-wealthy individuals -
In London, Indian-origin UHNWIs form one of the largest foreign-born cohorts -
In Singapore, India is one of the top two origin countries -
In Dubai, India is again among the top three source markets
This repeated appearance across geographies shows that Indian wealth is not concentrated in one destination—it is globally dispersed.
The global ultra-wealthy pool is expanding fast
The broader backdrop is a rapid expansion of global wealth.
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The number of ultra-high-net-worth individuals (UHNWIs) is expected to grow 33–34 per cent to 734,100 by 2030 -
Their combined wealth will rise from $63 trillion to $84 trillion -
Around 7.7 million people globally will hold over $5 million in assets -
India is part of this growth story as one of the fastest-growing wealth markets within Asia, alongside countries like Indonesia and Vietnam.
“What stands out in this research is the continued rise of entrepreneurial wealth creation at a global level. Nearly 80 per cent of foreign-born ultra wealthy individuals are self-made, reinforcing that today’s wealth is increasingly driven by innovation, ambition, and business building,” said Moira Boyle, Senior Director, Global Head of Luxury at Altrata.
Cross-Border Lives Become the Norm for the Ultra Wealthy
While wealth is increasingly cross-border, key global cities continue to dominate as primary hubs for UHNW individuals.
London remains a prominent hub for UHNW individuals, particularly those in banking and finance, despite mounting headwinds including tighter tax regimes and trade constraints.
At the same time, the US continues to dominate as the world’s leading wealth center, accounting for around 40 per cent of the global UHNW population (205,000).
However, evolving policy conditions may begin to influence future flows, with previous research by Arton Capital indicating that a third of American millionaires have considered leaving the USA due to the impact of Trump’s presidency.
In the Gulf, Dubai cements its reputation as a “young wealth hub” for global elites, with nearly a fifth (19 per cent) of foreign-born UHNW individuals in the city under 50 years old. Its status, despite ongoing geopolitical tensions in the Middle East, highlights a broader trend: UHNW individuals are not retreating from global movement, but becoming more strategic in how and where they deploy it.
Wealth Creation Dominated by Globally Minded, Self-Made Individuals
Significantly, the research shows that foreign-born UHNW individuals are overwhelmingly ‘wealth creators’ rather than inheritors.
Some 79 per cent are self-made, compared to 16 per cent who attribute their wealth to a combination of entrepreneurship and inheritance, and just 5 per cent whose wealth is fully inherited.
The findings point to a structural shift in how global wealth is created and managed.
Personal wealth is becoming less tied to any single nation-state, with the world’s richest structuring their lives, assets, and businesses across multiple jurisdictions. This is reflected in how today’s UHNW individuals operate globally: 17 per cent own or partially-own businesses headquartered outside their country of residence, while 34 per cent have pursued higher education outside their birth country — underlining that cross-border mobility is not incidental, but embedded in how modern wealth is built.
Taken together, the data reveals a clear relationship between mobility and entrepreneurialism. Internationally mobile individuals are more likely to build businesses, pursue opportunities across borders, and generate their own wealth – reflecting a cohort defined by ambition, risk appetite, and access to global markets. Mobility, in this context, is a key enabler of modern wealth creation.
Why Indian wealth is going global
The report makes it clear that mobility is no longer optional—it is strategic.
Today’s ultra-wealthy are:
Living in one country
Running businesses in another
Holding assets across multiple jurisdictions
Globally:
17 per cent of UHNWIs own businesses outside their country of residence
34 per cent have studied abroad
Entrepreneurship is driving Indian wealth globally
One of the most striking findings is that nearly 79 per cent of foreign-born ultra-wealthy individuals are self-made, with only about 5 per cent inheriting their wealth fully.
This aligns closely with India’s wealth story today, where:
Startup founders
Tech entrepreneurs
First-generation business leaders
…are driving the next wave of wealth creation.
Globally, immigrant entrepreneurs are disproportionately responsible for:
High-growth companies
Innovation-led industries
New wealth creation cycles
In fact, in the US, around half of Fortune 500 companies and unicorn startups have at least one immigrant founder, underlining the outsized role of cross-border entrepreneurs.
Indian-origin billionaires shaping global markets
The report also highlights how Indian-origin wealth creators are deeply embedded in global ecosystems.
In the US alone:
18 per cent of billionaires are foreign-born, with India among the most common birth countries
Where Indian wealth is going
India Tops Foreign-Born Wealth in US as Global UHNW Pool Heads to $84 Trillion
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United States: Scale and opportunity -
Hosts 205,000 UHNW individuals (largest globally) -
Nearly 40 per cent of global ultra-wealthy population -
Strong presence of Indian-origin entrepreneurs in tech and finance
Dubai: Tax efficiency and flexibility
Emerging as a fast-growing hub for mobile wealth
Over 95 per cent of foreign-born UHNWIs own property outside UAE
Indian-Origin UHNWIs Spread Across US, London, Dubai as Global Wealth Grows 33 per cent
London: Finance and legacy wealth
Around 7,000 ultra-wealthy residents
Nearly half focused on financial services
India at the Core of Global Wealth Boom as 79 per cent of Ultra-Rich Are Self-Made
Singapore: Stability and wealth management
Around 5,500 UHNW residents
India among top two origin countries
Strong focus on private banking and asset preservation
Demographics and behaviour of the global ultra-rich
The report also provides insights into who these individuals are:
Average age: 66 years
Majority are male (nearly 90 per cent)
Over 50 per cent are aged between 50–70
Around 25 per cent work in banking and finance