March 24, 2023

As many as 5.2 million people became millionaires last year, nearly half of them in the United States, according to Credit Suisse’s latest annual report. wealth report.

“This is the largest increase in the number of millionaires in any country in any year this century,” it said.

Credit Suisse estimates that by the end of 2021, the total number of millionaires worldwide will be 62.5 million.

The report, released Tuesday, found that global wealth totaled $463.6 trillion at the end of last year, up 9.8 percent.

Unsurprisingly, the two largest economies, the United States and China, saw the largest increases in household wealth, followed by Canada, India and Australia.

The bank said each country could benefit from a significant increase in economic output in 2021, as well as “active” activity in their respective property or stock markets.

This has again exacerbated global inequality, which has worsened significantly throughout the pandemic.
According to the World Bank, global poverty eradication suffered a historic setback in 2020, with the number of the world’s poorest people rising for the first time in more than 20 years.
The pandemic has pushed nearly 100 million people into poverty.They are trying to escape
Although the overall poverty since then Slightly down The agency again estimated that tens of millions of people are still living in extreme poverty this year “due to the ongoing impact of the pandemic, the war in Ukraine and rising inflation.”

This is in stark contrast to the luckiest people in the world, even if they are not immune to these factors.

Last year, Credit Suisse said in its report that the top 1 percent’s share of wealth “increased for the second year in a row.” By 2021, these people will account for 45.6% of global wealth.

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