New data from the Credit Suisse Global Wealth Report shows that there was an “explosion of wealth” last year. The global population of ultra-wealthy individuals (UHNWIs) grew by 46,000 to a record of 218,200. The report notes that UHNWIs benefited from a surge in the value of financial assets last year.
The majority of ultra-wealthy individuals already reside in the United States, but 2021 saw a staggering increase of 30,470 people bring added to this exclusive ultra-wealthy category in the country.
China and India will likely see their ultra-wealthy populations increase dramatically, but still have a long way to go before catching up to the United States.
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The biggest increases, aside from the U.S., were China (5,200), Germany (1,750), Canada (1,610), and Australia (1,350).
Decreases in UHNWI populations were more rare, but did occur in a few cases. United Kingdom (-1,130), Turkey (-330), and Hong Kong SAR (-130) saw the biggest drops.
This data comes from Credit Suisse Global Wealth Databook 2022. This is the most comprehensive and up-to-date resource of its kind. The Global Wealth Report analyzes the household wealth of 5.3 billion people across the globe. Multi-faceted and eye-opening.