This is the first time since the 2008 financial crisis. In 2022, 3.5 million people lost their status as “dollar millionaires,” according to the UBS Global Weather Report released on Tuesday and broadcast by the echoes.
In total, the number of people with real estate and financial assets of at least one million dollars amounted to 59.4 million last year, compared to 62.9 million in 2021. A decrease that is mainly explained by inflation and the exchange rate effects with the fall of certain currencies against the dollar, says UBS.
In detail, the United States had 1.8 million fewer millionaires in 2022 (22.7 million people), while Japan lost 466,000, the United Kingdom 439,000, Australia 363,000, Germany 253,000… Contrary to the world trend, France stands out with a slight increase with 25 more millionaires in 2022, to 2.8 million people. Other countries such as Norway (+104,000), Iran (+104,000) or Brazil (+120,000) saw their number of millionaires grow even more.
France on the podium
France, which represents 4.8% of the world’s 59.4 million millionaires, has climbed to the third step of the world podium behind the United States (38.2%) and China (10.5%) and ahead for the first time from Japan (4.6%). Germany (4.4%) and the United Kingdom (4.3%).
UBS also looked at the number of people with more than $50 million in assets. In 2022 there were 243,060 (-22,490 compared to 2021), of which more than half were Americans (123,870), China (32,910) and Germany (9,100) completing the podium. It is followed by India (5,480), Canada (4,560), Russia (4,490), the United Kingdom (3,980), Japan (3,930) and France (3,890).
It should also be noted that the proportion of global wealth held by the richest 1% (more than $1.081 billion in assets) fell slightly, to 44.5%.
Global household wealth falls
Beyond millionaires, household net worth fell $11.3 billion in 2022 to $454 billion (-2.4%), while median wealth per adult fell $3,200 to $84,718.
A result that “represents a break in the almost uninterrupted increase in household wealth during this century,” says UBS.
However, the Swiss bank estimates that global wealth will increase by 38% in the coming years, reaching $629 billion in 2027. Wealth per adult would rise to $110,270 on this date, while the number of millionaires will also increase. up to 629,000 million dollars in 2027. 86 million, mainly thanks to the rebound in the stock markets.
Source: BFM TV
