Millionaires Control 39% of
Global Wealth
WSJ, October 19, 2011
Here’s another stat that the Occupy Wall Streeters can hoist on their placards: The world’s millionaires and billionaires now control 38.5% of the world’s wealth.
Here’s another stat that the Occupy Wall Streeters can hoist on their placards: The world’s millionaires and billionaires now control 38.5% of the world’s wealth.
According to the latest Global Wealth Report from Credit Suisse, the
29.7 million people in the world with household net worths of $1 million
(representing less than 1% of the world’s population) control about $89
trillion of the world’s wealth. That’s up from a share of 35.6% in 2010, and
their wealth increased by about $20 trillion, according Credit Suisse.
The wealth of the millionaires grew 29%—about twice as fast as the
wealth in the world as a whole, which now has $231 trillion in wealth.
The U.S. has been the largest wealth generator over the past 18 months,
according to the report, adding $4.6 trillion to global wealth. China ranked
second with $4 trillion, followed by Japan ($3.8 trillion), Brazil ($1.87
trillion) and Australia ($1.85 trillion).
There are now 84,700 people in the world worth $50 million or more—with
35,400 of them living in the U.S.. There are 29,000 people world-wide worth
$100 million or more and 2,700 worth $500 million or more.
The fastest growth in the coming years will be in China, India and
Brazil. China now has a million millionaires. Wealth in China and Africa is
expected to grow 90%, to $39 trillion and $5.8 trillion respectively, by 2016.
Wealth in India and Brazil is expected to more than double to $8.9 trillion and
$9.2 trillion respectively.
