Richest 1% at which point owns half the globe’s wealth

The wealthiest 1 percent of the globe’s population at which point owns more than half of the globe’s wealth, according to a brand-new report.

The total wealth inside globe grew by 6 percent over the past 12 months to $280 trillion, marking the fastest wealth creation since 2012, according to the Credit Suisse report. More than half of the $16.7 trillion in brand-new wealth was inside U.S., which grew $8.5 trillion richer.

yet which wealth around the globe is usually increasingly concentrated among those at the top. The top 1 percent at which point owns 50.1 percent of the globe’s wealth, up via 45.5 percent in 2001.

“So far, the Trump presidency has seen businesses flourish as well as employment grow, though the ongoing supportive role played by the Federal Reserve has undoubtedly played a part here as well, as well as wealth inequality remains a prominent issue,” said Michael O’Sullivan, chief investment officer for International Wealth Management at Credit Suisse. “Looking ahead, however, high market valuations as well as property prices may curb the pace of growth in future years.”

the globe’s millionaires are likely to do the best inside coming years. There are at which point 36 million millionaires inside globe, as well as their numbers are likely to grow to 44 million by 2022.

The U.S. still leads the globe in millionaires, with 15.3 million people worth $1 million or more.

Japan ranks second with 2.7 million millionaires, while the U.K. ranks third with 2.2 million. China ranks fifth with 1.9 million millionaires, yet its millionaire population is usually likely to hit 2.8 million by 2022.

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