The world’s super-rich have become wealthier over the past 12 months, reversing a decline in 2016 when billionaires saw their fortunes hit by fluctuating stock markets and global uncertainty.

The numbers of the world’s ultra-high-net-worth – those with wealth of more than $30m – reached 226,450, an increase of 3.5 per cent, according to Wealth-X, the data provider that tracks the world’s richest. The global super-rich have a combined net wealth of $27 trillion – a figure which is expected to rise to $35.7 trillion by 2021.

New York retained its title as the world’s capital for the super-rich, with almost 8,500 individuals living in the metropolitan area – a 9 per cent increase on the previous year. London remains the centre for wealth in Europe, but behind Hong Kong and Tokyo on a global comparison.

Wealth, however, is not rising across the world, as local stock markets and currency fluctuations dent domestic fortunes. The super-rich in Latin America and the Caribbean, for example, saw average net wealth slip by 10.2 per cent to $945bn