A research firm predicts Asia will be home to more ultra-wealthy individuals with a net worth of at least 30 million dollars than the U.S. in 20 years.

The Singapore-based research firm “Wealth-X” forecast in a recently released report that the number of so-called ultra-high-net-worth individuals in the Asia-Pacific region will outnumber those in the U.S. by 2032. It also forecast that the number of ultra-wealthy people in the Asia-Pacific will outnumber their European counterparts by 2024.

Currently, the U.S. is home to 62-thousand-900 ultra rich people while Europe is home to 54-thousand-300 and the Asia-Pacific region 42-thousand-500.

Of the one-thousand-235 billionaires worldwide, 455 are United States citizens and 150 are Asians.