- World wealth has had a remarkable increase in the last year and with approximately half of the new millionaires in the United States; however, at the other extreme, extreme poverty also increased in the period of the pandemic
The pandemic felt good for a very small percentage of the population that managed to amass enough fortunes to enter the group of millionaires in the world.
Two markets that have given headaches to millions of families around the world: the stock market and the real estate market were the triggers for the new world fortunes.
Last year alone, 5.2 million people around the globe became millionaires, according to an annual report on global wealth from Credit Suisse.
Of the total number of new millionaires, almost half are in the United States, the country that, along with China, added the most new millionaires to the exclusive list of rich people around the world.
“This is the largest increase in the number of millionaires registered for any country in any year of this century,” said the report prepared by the financial institution.
The United States is not only the country that added the most millionaires in the last year, but it is also the nation with the highest number of billionaires, with 735 in total; followed by China, India, Germany and Russia.
The top 5 of the list of the richest people in the world, according to Forbes, is made up of four Americans: Elon Musk, Jeff Bezos (challenged on the Bloomberg list by the Indian tycoon Gautam Adani), Bill Gates and Warren Buffett; only the number three position is held by Frenchman Bernard Arnault.
But one step below the great world fortunes, the Credit Suisse report details that by the end of 2021 there were 62.5 million millionaires worldwide.
In terms of money, the report detailed that the aggregate global wealth at the end of last year was just over $463 billion dollars, which represented an increase of 9.8% compared to that of 2020.
Millionaires reproduced last year in the big economies; mainly in the United States and China, but also with notable growth in Canada, India and Australia.
Credit Suisse considered that the increase in personal fortunes in these countries could be fueled by the significant increase in economic activity, after the toughest months of the pandemic, and by very dynamic real estate and stock markets.
More millionaires, but also more poverty
In the same sense that the millionaires in the world increased, poverty also accelerated around the world, not only during the pandemic, but also as the consequences of the health crisis persist.
One of the consequences of the pandemic was that, during 2020, the number of people living in poverty increased for the first time in 20 years, according to data from the World Bank.
Since then, World Bank data show that global poverty has again slightly decreased; however, the institution indicated that it is likely that millions of people around the planet will continue to live in conditions of extreme poverty.
The Credit Suisse report also winks at the inequality that exists on the planet when it comes to wealth, as it indicates that 45.6% of world wealth in 2021 was in the hands of just 1% of the population.