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The rich have become poorer for the first time in 7 years

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The rich have become poorer for the first time in 7 years
July 09
09:00 2019

According to Capgemini SA, the total wealth of dollar millionaires last year decreased by 3%. Now it is estimated at 68.1 trillion US dollars.

Not only has the amount of wealth reduced, but also the number of rich people decreased by 0.3% – 18 million people.

These indicators have fallen for the first time in the last 7 years. A difficult situation in the stock markets as well as the slowdown in economic growth in the main regions caused the phenomenon.

Asia (as well as Europe) is number one in losing the rich: -1.7% and -0.7%, respectively. The situation remains the same in the US and Canada – + 0.4%. The largest increase in millionaires is observed in the Middle East – by almost 6%. Latin America can boast the number of wealthy people increased by 2%.

In North America there are about 5.7 million people in the “rich” category, in Europe – 4.8 million, in Asia – 6.1 million, in the Middle East – 700 thousand, in Latin America – 600 thousand, in Africa – 200 thousand. Only the assets estimated at a minimum of $ 1 million were taken into account.

In 2012, 58% of all dollar millionaires in the world lived in America, Japan, China and Germany. In 2017, this figure has increased to 61.1%. Last year the increase was only 0.1%.

In 2017, 27.2% of the total wealth of rich people was kept in monetary terms. Last year this figure increased by 0.7%. In 2017, almost 31% was stored in shares, in 2018 – only 25.7%. The share of the total amount invested in real estate in 2017 was equal to 16.8%; last year this figure dropped to 15.8%.

The data from 71 countries are taken into account to form statistics on the richest people. The countries account for 98% of the total world GDP, as well as 99% of the world stock market capitalization.


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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