1% of the population concentrated 45.6% of the global wealth that grew in 2021

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Credit Suisse’s annual report highlights that global wealth grew by 9.8% in 2021, which analysts consider an “exceptional” year. However, it has remained concentrated in the hands of very few, especially American and Chinese.

At the end of last year, there were about 62.5 million people in the world with a fortune of over $1 million, up 9% from 2020, and the pandemic appears to have produced positive numbers at the peak of the wealth world.

Meanwhile, estimated global wealth grew 9.8% to $463.6 billion, $87,489 if measured in terms of the average wealth of each of the 5.5 billion adults on the planet, Credit Suisse estimates.

The Swiss Bank annually releases a report that calculates the behavior of global wealth. The 2021 report found that “2021 was a good year for finances.”

The rich, the richest

According to the research, global wealth is concentrated in the United States and China, which account for half and a quarter of the total, respectively, far ahead of Canada, India and Australia.

In 2021, more than 30,000 super-rich people appeared in the United States, with fortunes exceeding $50 million. Another 5,200 appeared in China, 1,750 in Germany, 1,610 in Canada, and 1,350 in Australia. There were fewer ultra-rich in the UK, Turkey and Hong Kong.

The world’s richest concentrate nearly half of the world’s wealth © France 24

While a small group of over 60 million people command a lot of wealth, at the bottom of the pyramid are those whose “wealth” was less than $10,000 in 2021 and represent 53% of the world’s population.

Of all the world’s wealth, $12.579 billion is hardly equivalent to Latin America, where last year’s wealth increased by $1.2 billion (10.5%, up from the global 9.8%), but it is barely less than 3% of the total.

The world has 463 trillion dollars of wealth
The world has 463 trillion dollars of wealth © France 24

According to the report, middle-income countries will be the main drivers of the economy in the coming years, as the segment of those with wealth between $10,000 and $100,000 is the one that has grown the most since the beginning of the century (from 504 million to 1.8 billion individuals).

with EFE

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