America gained 2.5 million new millionaires last year

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According to Credit Suisse’s latest annual report, about 5.2 million people became millionaires last year, nearly half of whom are in the United States alone. money report,

“This is the largest increase in the number of millionaires ever recorded for any country in this century,” it said.

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Credit Suisse estimates that worldwide, the total number of millionaires at the end of 2021 was 62.5 million.

The report, released on Tuesday, found that total global wealth stood at $463.6 trillion at the end of last year, a 9.8% jump.

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Unsurprisingly, the top two economies – the United States and China – saw the biggest gains in household wealth, followed by Canada, India and Australia.

The bank said each country was helped by a significant increase in economic output in 2021 combined with “vigorous” activity in their respective housing or stock markets.

This once again exacerbated global inequality, which has already worsened significantly during the pandemic.
The fight against global poverty suffered a historic setback in 2020, with the number of the world’s poorest people rising for the first time in more than 20 years, according to the World Bank.
while the overall poverty has since slipped down a bit Again, the institution estimates that tens of millions more people may still live in extreme poverty this year than ever before, “due to the effects of the pandemic, the war in Ukraine and rising inflation.”
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This is the exact opposite of the luckiest people in the world, even if they are not immune to those factors.

Last year, the top 1%’s share of assets was “running for a second year,” Credit Suisse said in its report. Those individuals accounted for 45.6% of the world’s wealth in 2021.


Credit : www.cnn.com

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