In which country are the most millionaires? Contra magazine

The current economic and financial system favors the accumulation of capital in the hands of a few. Where are most millionaires? Where was the climb last year extraordinary big?

By Marco Maier

The world is divided into a few million empires, a few hundred million middle-class people, and a billion poor. Above all, financial capitalism with price fireworks on the stock exchanges, the bubbles on the real estate markets and the flood of money from the last few years have ensured that the number of "High Net Worth Individuals" (HNWI), those people with more than $ 1 million in investable assets, rose significantly.

Could still be 10.9 million people in 2010 worldwide described as rich, their number rose on average by 7.2 percent annually to 16.5 million people. Their total assets increased by an average of 6.5 percent per year over the same period – from a total of $ 42.7 to 63.5 trillion. The following graphic (click on the image to enlarge) shows the regional differences.

Among the important countries in the world, Russia (+19.7 percent – with a small pool of 182,000 rich), the Netherlands and Indonesia (+13.7 each), Norway (+13.2) and Thailand (+ 12.7) and Sweden (+12.6) saw a significant increase in individuals with wealth in excess of $ 1 million from 2015 to 2016. But Taiwan, Canada, France and Brazil are also more than 10 percent plus well above the global average of 7.5 percent (see chart below). For comparison: In the USA, the number of HNWIs rose by only eight percent.

Which countries have most of these now "HNWI"? It is the United States (4.8 million), Japan (2.9 million), Germany (1.3 million) and China (1.1 million). Together – see chart below – 61.1 percent of all dollar millionaires live there. 0.68 million people were added to this group last year in these four countries; there were 1.15 million people worldwide. For comparison: Switzerland has 364,000 HNWI (+2 percent), Austria 133,000 (+10 percent).

The breakdown of the HNWI Group by assets is also interesting. For example, 90 percent, or around 14.9 million people, of these people had assets of $ 1-5 million, another roughly 1.5 million people had between $ 5 and 30 million in investable assets in 2016, while 157,200 people ( around 1 percent of all HNWI) could call more than $ 30 million their own. The total assets are distributed as follows: the lowest group owns 43.0 percent of the assets, the middle group 22.5 percent and the richest percent 34.5 percent.

So while the world population grew from 6.93 billion in 2010 to 7.43 billion in 2016 (i.e. by 7.3 percent), the HNWI recorded an increase of around 51 percent. But that doesn’t mean that the assets are now gradually being distributed more evenly. Rather, it turns out that monetary and financial policy worldwide led to inflation on the stock and real estate markets, which at least statistically means that there are more rich people.

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