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profishingrods.com November 22, 2017


India Home to 245000 Millionaires, Household Wealth at $5 Trillion

15 November 2017, 10:06 | Joann Bryant

The Richest 1% Now Own More Than 50% of the World's Wealth

Global millionaires who make up just one per cent of the adult population own 50.1 per cent of of the world’s wealth or $140tn, according to Credit Suisse's global wealth report

According to the Credit Suisse Global Wealth Report, the top 1 per cent are worth a total of $182trillion - about eight times more than the U.S. economy.

And between mid-2016 and mid-2017, global wealth grew by 6.4 percent - its fastest pace in five years - allowing the mean wealth per adult to reach a record high, the study showed. Thirty-six million people with over a million dollars make up just 0.7 percent of the global population, but control 46 percent of the world's $280 trillion dollars.

"The share of the top 1 percent has been on an upward path ever since [the crisis], passing the 2000 level in 2013 and achieving new peaks every year thereafter", the bank's annual report said, adding: "global wealth inequality has certainly been high and rising in the post-crisis period".




Introducing the report, Urs Rohner, chairman of Credit Suisse, said: "Those with low wealth tend to be disproportionately found among the younger age groups, who have had little chance to accumulate assets, but we find that millennials face particularly challenging circumstances compared with other generations". "There is still considerable wealth poverty, reflected in the fact that 92 per cent of the adult population has wealth below $ 10,000", the report said. "There is some uncertainty about future interest rates and stock market prospects, but otherwise the signs are mostly positive for household wealth". According to the eighth edition of the Global Wealth Report, in the year to mid-2017, total global wealth rose at a rate of 6.4 per cent, the fastest pace since 2012 and reached Dollars 280 trillion.

It pointed to "widespread gains in equity markets", at the same time as non-financial assets like real-estate for the first time passed the level they were at when the global financial crisis struck in 2007. Above that, in the $10,000 to $100,000 bracket, we have 7.2% of Indian adults.

Globally, Switzerland remains the richest nation in the world in terms of wealth per adult with $ 537,600 in 2017, followed by Australia ($ 402,600) and United States ($ 388,000) in the second and third place respectively, the report said.



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