A 25% jump in the ultra-wealthy ranks by 2031 is being “supercharged” by profits from artificial intelligence, consultancy Knight Frank has said

The number of billionaires worldwide is expected to climb to nearly 4,000 by 2031, rising about 25% from current levels as the pace of wealth creation accelerates, according to global property consultancy Knight Frank.

There are currently 3,110 billionaires globally, and the figure is projected to rise by about 25% to 3,915 over the next five years, the firm said in a report on Thursday.

Liam Bailey, the estate agent’s head of research, said wealth among billionaires and millionaires had been “supercharged” by profits in the technology sector, particularly artificial intelligence.

“The ability to scale a business has never been higher,” he said.…