Wealth differences between adults widened in 2020. The global number of millionaires expanded by 5.2 million to reach 56.1 million. As a result, an adult now needs more than USD 1 million to belong to the global top 1%.
Total global wealth grew by 7.4% and wealth per adult reached another record high of USD 79,952. Overall, the countries most affected by the COVID-19 pandemic have not fared worse in terms of wealth creation.
• USD 17.5 trillion was lost from total global household wealth between January and March 2020, equivalent to a fall of 4.4%. This was largely reversed by the end of June.
• The regional breakdown shows that total wealth rose by USD 12.4 trillion in North America and by USD 9.2 trillion in Europe.
• India and Latin America both recorded losses in 2020. Total wealth fell in India by USD 594 billion, or 4.4%.
Speak to a Financial Advisor & Coach who knows #MoneyMatters today.