Number of multimillionaires in Israel rises by 71% over five years
The number of multimillionaires in Israel has increased by 71% over the past five years, reflecting accelerated capital accumulation in the upper segment of society, Ynet reports citing data from Knight Frank. Real estate remains the main investment channel for the ultra-wealthy: around 21% of their capital is allocated to this sector.
Growth in multimillionaires and investment in real estate
In 2021, Israel had 3,186 individuals with net assets exceeding $30 million. By 2026, this number had risen to 5,462, representing a 71.4% increase over five years. This makes Israel one of the fastest-growing wealth markets in terms of high-net-worth population.
For comparison, the global number of ultra-wealthy individuals increased from 551,000 to 713,000. Over the past five years, around 89 people per day worldwide have entered the ultra-high-net-worth category. The United States accounted for 41% of this growth, while India recorded a 63% increase in its multimillionaire population.
At the same time, the study highlights a consistent investment pattern among wealthy Israelis. Real estate remains one of the key allocation areas, with around 21% of capital held by high-net-worth individuals invested in this sector. Private investors are particularly active in commercial real estate, taking advantage of faster decision-making and lower sensitivity to interest rate fluctuations compared to institutional funds.
How Israeli high-tech creates new wealth
One of the main reasons for the sharp rise in multimillionaires in Israel is the success of the technology sector. This is driven not only by high salaries but primarily by large “exits” — company sales to international corporations, after which founders and employees receive substantial payouts.
One of the most notable recent examples is the sale of Wiz to Google for $32 billion. Each of the four co-founders, including Assaf Rappaport, is estimated to have received around $3.2 billion before taxes. Significant payouts were also received by dozens of employees holding stock options.
Another example is the sale of Israeli company Mellanox to Nvidia. Following the deal, the rise in Nvidia’s share price significantly increased the wealth of former Mellanox employees who had received shares as part of the agreement. As a result, hundreds of people substantially increased their net worth. Such transactions in the technology sector are increasingly becoming a mechanism for rapid wealth creation in Israel.
How capital growth is affecting the luxury real estate market
Large transactions in the tech sector are directly reflected in the real estate market, especially in central Israel. New wealth is driving demand for expensive land plots, private homes, and commercial properties, supporting high prices in the premium segment.
As an example, Ynet reports deals involving Wiz founders. Assaf Rappaport purchased an approximately eight-dunam plot in Rishpon (about 8,000 sq. m) for nearly 40 million shekels (around $11 million). His partner Ami Luttwak bought several land plots in Binyamina for approximately 28 million shekels (around $7.7 million). Wealthy buyers are creating sustained demand for luxury real estate, influencing property values and overall price levels.
Family offices reshape capital management
One of the notable shifts among Israel’s ultra-wealthy is the move toward professional wealth management through family offices. These structures increasingly go beyond capital preservation and evolve into full-scale investment platforms with dedicated experts and strategies.
Israel Atiya, CEO of the Financial Planning Center, notes that large wealth holders are increasingly investing directly in data centers and energy infrastructure linked to artificial intelligence. He adds that this does not yet represent a departure from traditional banking, but a growing trend toward “financial agility,” where family capital operates like a private venture fund acting alongside institutional investors.
Forecast: the number of ultra-wealthy will continue to grow
Knight Frank expects the trend to continue. By 2031, the number of Israelis with assets exceeding $30 million could increase by another 26%, reaching 6,889 individuals. Israel ranks 16th globally in terms of potential growth in ultra-wealthy population in the coming years.
For ultra-high-net-worth investors, real estate remains the primary tool for wealth preservation and growth. According to Knight Frank, primary and secondary housing accounts for around 32% of total assets among individuals with wealth above $30 million. On average, each investor owns nearly four such properties. Another 14% is allocated to commercial real estate, making it the largest single investment category among the ultra-wealthy.
Financial instruments play a significant but secondary role. Equities account for around 18% of portfolios, bonds for 12%, while private investments, including company stakes and venture capital, make up about 6%. Analysts note that the growing number of ultra-wealthy individuals is increasing demand for premium real estate, as it remains a key asset for capital preservation and protection against market volatility.