an amount of millionaire will grow around the world 40 percent in the next five yearsAccording to a report by Credit Suisse Group. According to the study done on Global Wealth, There will be more than 87.5 million people with at least $1 million in wealth by 2026, That means a huge jump to over 62.5 million in 2021.
The company also emphasized that this increase will be despite the fact that the asset class is collapsing due to hike in rates and Russia’s war in Ukraine. In fact, in the first six months of the year The world’s 500 richest people lost 1.5 billion in accumulated wealth,
Credit Suisse Previous Those quick recoveryespecially for them developing market, The Swiss bank places special emphasis on China. He anticipates that the Asian giant will continue to make great wealth despite the fact that its economy is showing signs of stress amid the shutdown due to Covid.
Personal Luck: Who Can Become a Millionaire
Furthermore, the report estimates that private wealth will increase by 36 percent to $169 trillion by 2026. And wealth per adult will increase by 28 percent, reaching $100 million by 2024. The number of people with a net worth of more than $ 50 million will reach 385 thousand.
With regard to emerging markets, Credit Suisse estimates that they will narrow the gap with the developed world over the next five years, and that Luck in emerging economies will grow 10 percent annuallyThat compared to an increase of 4.2 percent in high-income countries.
What happened to millionaires in 2021?
In 2021, the global fortune grew by 9.8 percent from 2020. thus, is experiencing much higher growth than has been recorded since the turn of the century.
The top 1 percent hold 46 percent of all household assets. Meanwhile, the richest 10 per cent owned 82 per cent of the world’s wealth. The ranking was led by the United States and China.
“The gap between rich and less wealthy countries has narrowed, with particularly low- and middle-income countries growing at a faster rate,” said Anthony Shoroux, a Credit Suisse economist and author of the report. Press conference.