Many people are getting richer, so the gap between rich and poor is growing.

Despite all the international crises, net private wealth, i.e. without debt, rose to a record high of $473 trillion (442 trillion euros) last year.

At the same time, annual growth was above average and, at 10.3 percent, was the strongest it had been in more than a decade.

This is the result of an analysis by the consulting firm Boston Consulting Group (BCG).

Kerstin Papon

Editor in Business.

  • Follow I follow

The main reason for the strong growth was rising share prices, fueled by good company results, says Anna Zakrzewski, partner at BCG and responsible for wealth management around the world.

But real assets are also very popular with private individuals, and investors are increasingly interested in real estate, wine, art and other physical assets.

With an increase of 10.6 percent, financial assets in private hands grew particularly significantly.

This created more than 26 trillion dollars.

Real wealth, consisting of private property, increased around the world by 9.4 percent, or $22 trillion.

Financial assets include cash, account balances, bonds, shares in companies, funds, life insurance policies or pensions.

End of Swiss dominance?

The authors of BCG's "Global Wealth Report 2022" also expect that a total of around $80 trillion in new wealth would be created over the next five years.

This should happen despite geopolitical and economic destabilizers, such as inflation driven by supply shortages, higher demand and expansionary monetary policy, or Russia's invasion of Ukraine with soaring commodity prices, dried up energy sources and severed cargo routes.

In Germany, the inflation rate was 7.9 percent in May.

In a remarkable industry shift, Hong Kong will overtake Switzerland in 2023 as the country in the world that manages the bulk of private cross-border wealth, the analysis says.

This would end a long tradition of more than 200 years of Swiss dominance.

The report also predicts that while asset values ​​should continue to appreciate in all regions of the world, Asia Pacific should maintain the fastest growth rates.

By 2026, the region could be home to almost a quarter of the world's wealth.

In Germany, too, many people are getting richer.

Private assets in Germany rose by 10.3 percent to a net 20.2 trillion dollars on an international average.

Private tangible assets grew 11 percent to gross $13 trillion, and financial assets grew 8 percent to more than $9 trillion.

Traditionally, Germans prefer to invest in real estate than in securities, which is clearly shown by the real asset ratio of more than 65 percent, says Zakrzewski.

In terms of financial wealth, Germany ranks fifth among the richest countries in the world.

The United States remains the leader with almost $120 trillion, followed by China (30.9), Japan (18) and Great Britain (10.2).

Around 15 percent of the world's investable financial wealth is held by around 69,000 ultra-high net worth individuals (over $100 million).

At 25,800, most live in the United States, followed by China with 8,500 and 3,100 in Germany.