The world's richest people lost 10% of their wealth last year after their investment portfolios were affected by the rise in interest rates due to the war in Ukraine and accelerating inflation, according to a study by the consulting "Knight Frank" center.
According to the study, the total wealth of the "richest of the rich" - that is, those whose wealth is at least $ 30 million, including the value of their main residence - decreased by about $ 10,100 billion ($ 10.1 trillion).
Liam Bailey, global studies expert at Knight Frank, said that the Ukrainian crisis exacerbated the European energy crisis and increased inflation, which was already accelerating.
As a result, the year 2022 witnessed one of the largest rises in interest rates in history.
The center indicated that a large number of central banks raised interest rates to contain inflation negatively affected the investment portfolios of the wealthy, but despite that - the research center says - the wealth of 40% of the richest increased last year.
40% of the world's richest people increased their wealth over the past year (Getty Images)
biggest drawbacks
Europe saw the biggest decline, with wealth shrinking by 17%.
It was followed by "Australasia" (i.e. Australia, New Zealand, Papua New Guinea and neighboring islands), with a decrease of 11%.
Then the Americas, with a decline of 10%.
Asia, down 7%.
Then Africa, with an estimated decline of 5%.
According to the "Knight Frank" center, 69% of the richest investors expect their portfolios to grow this year, but the center warned that if the global economy remains exposed to great risks during the year 2023, the atmosphere in the markets will change quickly, with real opportunities in the real estate markets.
It is noteworthy that the American billionaire Elon Musk had lost $ 200 billion of his wealth, as it fell to only $ 137 billion about a month ago.