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China is overtaking the US for the first time with 100 million rich people

2019-10-21T12:54:50.791Z

China has for the first time more inhabitants who are among the richest 10 percent of the world than the United States. This is respectively 100 million compared to 99 million people in the richest category. Credit Suisse reports this in the annual Global Wealth Report.



China has for the first time more inhabitants who are among the richest 10 percent of the world than the United States. This is respectively 100 million compared to 99 million people in the richest category. Credit Suisse reports this in the annual Global Wealth Report.

In the United Kingdom, the number of millionaires has fallen by 27,000 in the last twelve months, mainly due to Brexit. In Australia the largest contraction can be seen with 124,000 fewer millionaires, caused by exchange rate effects.

Globally, the number of millionaires in the past year grew by 1.1 million to 46.8 million people.

Within five years, the number of millionaires is expected to increase by 27 percent to 63 million people. In 2024, the millionaires are expected to be worth 459 trillion dollars (411 trillion euros). The majority of the growth in the number of millionaires will come from middle and low-wage countries with 38 percent.

Source: nunl

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