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World's Richest People Have More Than Doubled Their Wealth Since 2008
Key Excerpts from Article on Website of Fortune
Posted: September 17th, 2018
http://fortune.com/2018/06/19/worlds-richest-people-wealth/
The combined wealth of the worlds millionaires and billionaires has hit $70.2 trillion, reaching a new record for collective wealth among the worlds richest, Capgemini revealed on Tuesday in its annual World Wealth Report. The research firm said that it was sixth-straight year of high-net-worth individuals adding more cash to their coffers. The collective wealth was more than double the $32.8 trillion in wealth the worlds richest people had in 2008. The study defines a high-net-worth individual as someone who has assets of $1 million or more. That sum needs to be available to invest and cannot include a primary residence and collectibles, among other products. The U.S. has the most wealthy people in the world with 5,285 individuals hitting the mark of a high-net-worth individual. Japan and Germany landed in second and third place with 3,162 and 1,365 wealthy people, respectively. In its evaluation of the worlds wealthiest people, Capgemini analyzed how their wealth is dispersed among asset classes. It found that 30.9% of their wealth is kept in equities and 27.2% in cash and cash equivalents. Another 16.8% of their wealth resides in real estate. Additionally, Capgemini found that high-net-worth individuals are investing in cryptocurrency more than ever. More than 71% of younger high-net-worth individuals place a high importance on getting cryptocurrency information from their wealth managers, compared to 13% of those aged 60 and over.
Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.
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