The stock market crash of 2022 will also hit the fortunes of the wealthy. The number of millionaires has fallen – for the first time in a decade, according to one assessment. But not in all regions of the world.
Plunging prices on stock exchanges, high inflation and a weak world economy over the past year have also left their mark on the rich. The number of people worldwide with at least $1 million in investable assets fell 3.3% in a year to 21.7 million, according to the World Wealth Report by consulting firm Capgemini.
Their combined wealth shrank 3.6 percent to $83 trillion over the same period. According to French consultancy Capgemini, it was the biggest drop in both categories in more than a decade: “The reason is geopolitical and macroeconomic uncertainty.”
the strongest asset decline in north america
In a global comparison, North America saw the largest decline in wealth at -7.4%, followed by Europe – where the wealth of millionaires in Europe was calculated to fall by 3.2% year-on-year.
It is understood that the German millionaire club decreased by 20,900 people last year, and the total number of members was 1.61 million. Their combined assets fell 2.2 percent to just over $6.1 trillion. A year ago, it rose 7.4 percent to about $6.3 trillion.
germany ranks third
According to the assessment, Germany still holds the third place in the list of countries with the most dollar millionaires, although the number has declined. The United States still tops the list, with 6.9 million people falling into this category. It was 7.46 million a year ago.
Japan ranks second with 3.55 million wealthy individuals, and China ranks fourth with nearly 1.5 million very wealthy individuals.
More Dollar Millionaires in the Middle East and Africa
Contrary to the overall trend, the rest of the world has seen an increase in the number of millionaires and their wealth, according to the World Wealth Report. More millionaires emerged in the Middle East, Africa and South America last year. This is due to the robust growth of the oil and gas industry, from which countries in these regions benefit.
Published annually since 1997, Capgemini’s World Wealth Report includes equities, fixed income, alternative investments such as private equity, cash and real estate, provided they are not used by companies. Collectibles or consumables are not included.