The rich are gaining a larger slice of the world’s wealth, research says

Wealth


The world’s wealthiest look poised to get even richer.

A new report by global consultancy Capgemini found wealth among millionaires grew by a record 8 percent last year to $63.5 trillion. Much of that growth was driven by ultra-high net worth individuals, those with $30 million or more in investable assets.

The report is the latest research underlining the idea that the wealthiest households in the world are increasingly capturing a larger share of global wealth.

A June report from The Boston Consulting Group (BCG) found there were 17.9 million households with at least $1 million in investable assets in 2016. Those millionaires, accounting for 1 percent of households in the world, own 45 percent of total private global wealth.

Anna Zakrzewski, a partner at BCG, said the share of wealth held by millionaires is growing. BCG expects millionaires will own half of total global private wealth by 2021, up from roughly one-third 10 years ago.

“The millionaire households are growing almost twice as fast as the affluent segment,” Zakrzewski said.



Source link

Products You May Like

Articles You May Like

BlackRock earnings Q4 2017
Mnuchin wants to make sure bad guys can’t use cryptocurrencies
Kroger is said to consider buying online wholesaler Boxed for up to $500 million
IRS steps up tax enforcement for cryptocurrencies
GameStop tanks 11% after saying people are not upgrading smartphones

Leave a Reply

Your email address will not be published. Required fields are marked *