According to a study released on Wednesday, the world has never had such a large number of wealthy people, and their investments in skyrocketing property markets have made them wealthier than ever before.
The number of “high net worth individuals” ( HNWI )– defined as people with liquid assets of at least$ 1 million– rose by 5.1 percent last year to 22.8 million, according to consulting firm Capgemini.
Their total prosperity reached$ 86.8 trillion in 2023, a 4.7 percent increase from the previous month, according to the annual World Wealth Report.
Since Capgemini began the yearly investigation in 1997, the number of HNWI and their overall money are at their highest levels.
Their fortunes have risen as property markets have surged: New York’s technology- large Nasdaq soared 43 pct in 2023 while the wide- based S&, P 500 gained 24 percent.
The Paris CAC 40 grew 16 percentage while the Frankfurt DAX advanced by 20 percent.
In 2022, a time of economic uncertainty and tensions, the report claimed, both the number of HNWIs and their prosperity had decreased by more than 3 %.
Their success declined significantly as equities fell, which is the steepest collapse in a decade.
” But, 2023 brought financial growth and increased wealth for major investment businesses to change the falloff”, the statement said.
” Stocks surged along with the tech industry, fueled by passion for conceptual AI and its possible impact on the economy, despite ongoing interest rate confusion and rising relationship yields.”
Disputes over requiring the wealthy to pay their fair share of income have been fueled by rising global success and injustice.
Brazil and France have pressed other G20 nations to impose a minimum global taxes on the richest people in the world.
alb/lth/fg
