USA: According to Altrata's most recent billionaire census, the ranks of the global billionaire class were reduced in 2022 due to inflation, international conflicts, interest rate increases, and other unstable economic events. In 2022, there were 117 fewer billionaires, a 3.5% decline in the 3,194-person total of the world's richest people.

For the first time since 2018, fewer people in the world are billionaires. The year 2022 saw a decline in both the number of billionaires and their combined wealth, which fell by 5.5% to $11.1 trillion.

"For some among the ultra-rich, this turbulent backdrop provided new opportunities to bolster their wealth holdings," the report stated. For the majority, however, the emphasis shifted to wealth preservation, which ultimately proved difficult, particularly for tech tycoons.

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With 955 individuals and a total wealth of $4.2 trillion, the United States has by far the most billionaires. With 357 billionaires, China comes in second—nearly 10% fewer than in 2021—and Germany comes in third with 173.

Tech, healthcare, and real estate billionaires all saw their wealth decline by 5%, while losses in the aerospace and defence, building and engineering, and food and beverage industries were less severe. 

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Most regions saw a decline in the number of billionaires, but Asia saw the biggest drop, losing 7.1% of its billionaires, compared to declines of 2.3% in North America and 2.2% in Europe. The Pacific, the only region to do so, saw a 2.5% increase in the number of billionaires as a result of Australia's increases in wealth.

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According to the study, billionaires typically prefer to reside in metropolitan areas, with 30% of them doing so in the top 16 cities. Powered by the Wall Street financial district, New York had the highest concentration of billionaires, with 136 calling the city home in 2022—two fewer than the year before. San Francisco, Moscow, London, and Beijing came after Hong Kong.