Stat of the day: 9.5%

The amount the wealth of the world's richest people grew last year.

by
Last Updated: 09 Oct 2013
We may be slowly working through the after-effects of a global financial crisis, but for the world’s richest, it’s almost as if nothing happened. The combined wealth among individuals with at least $1m in spare cash rose almost 10% last year, reaching a whopping $42.7tn.

That’s even higher than the previous peak in 2007 (ie. before the recession took hold) when global wealth was $40.7tn - and is 9.5% higher than the 2009 figure of $39tn. And, according to the annual world wealth report by Merrill Lynch and Capgemini, the global balance is shifting: Asian millionaires now outnumber those in Europe by 200,000.

According to the figures, the country with the most millionaires is (still) the US, followed by Japan, Germany and China, with the UK in fifth place. But it’s not a complete success story for the world’s rich - the growth in the number of world millionaires last year was more moderate than it was in 2009: those defined as being in the richest elite grew 8.3% in 2010, whereas in 2009, the increase was 17.1%. Still: we doubt those who made it onto the list mind too much…

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Subscribe

Get your essential reading delivered. Subscribe to Management Today