Well-being in the world

Main article: World Economy

The richest people in the world

Main article: The richest people in the world

• Billionaires in Russia

2023

Global financial wealth growth of 7% to $275 trillion

At the end of October 2024, researchers showed that financial wealth for the first time grew by almost 7% in 2023 to $275 trillion after a 4% decline in 2022. Total wealth, including real financial assets and liabilities, grew by 4.3% in 2023 to $477 trillion. North America was among the regions with the fastest growth rates, accounting for more than 50% of all financial wealth gains in 2023.

Most of the growth was due to the recovery of the financial market. It is estimated that financial wealth will grow by another $92 trillion over the next five years. However, asset managers can no longer rely solely on interest income from assets as they face rising costs due to inflation, operational inefficiencies and tighter regulations. The researchers' report highlights that generative AI has been an important factor in improving operational efficiency and will play a crucial role in the digital transformation of asset management across the value chain.

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Thanks to strong stock markets, North America was among the regions with the fastest growth rates. The recovery was not as pronounced in Western, To Europe where financial wealth grew by 4.4%. The financial wealth of the Asia-Pacific region grew by 5.1% in 2023, mainly due to the slowing pace of development, China but experts expect a significant increase in wealth by 2028, up to 30% of the total growth. In addition to China, a significant player in this region may be, which India ensured an increase in financial well-being in 2023 by $590 billion. This is the largest increase in wealth in the history of the country.^[1]

The well-being of families has grown in the world

In 2023, household wealth on a global scale increased by 4.2% in dollar terms compared to 2022. The most significant growth was recorded in Turkey - approximately 157.8% on an annualized basis. This is followed by Qatar and Russia, where the increase was about 20%. The corresponding indicators are reflected in the study of the Swiss bank UBS, the results of which were published on July 10, 2024.

It is noted that in 2022, the well-being of households in the world decreased by 3%: the decline was noted for the first time since the financial crisis of 2008. This is largely due to the strengthening dollar in relation to most major world currencies against the background of the emerging macroeconomic situation. In 2023, wealth in the Asia-Pacific region rose by 4.4%, in the North and - South America by 3.6%, in the region (, EMEA Europe the Middle East) - Africa by 4.8%.

The study says that in 2023, the richest on average were residents in the EMEA region ($166 thousand per adult). This is followed by the Asia-Pacific region ($156 thousand) and America ($146 thousand).

Although global prosperity has been growing steadily since 2008 (with the exception of 2008), growth has slowed in almost all markets, the UBS report says.

If we consider individual, states then, Switzerland according to the published data, it is a country with the richest residents: the average income of an adult here is $709.6 thousand per year. In the second position is located Luxembourg with an indicator of $607.5 thousand, and closes the top three Hong Kong with $582 thousand. This is followed by and, USA the Australia result of which at the end of 2023 is $564.9 thousand and $546.2 thousand, respectively. Russia the published rating of 25 states is not included.^[2]

The World Bank has transferred Russia to the category of high-income countries

In June 2024, the World Bank (WB) transferred Russia to the category of high-income countries. Earlier, the Russian Federation was part of this league of countries in 2012-2014.

For each resident of Russia accounts for $14,250 of gross income. The bank classifies those states in which this indicator is fixed at at least $13,845 as high-income countries.

Economic activity in Russia in 2023 was affected by a significant increase in military activity, as well as a rise in trade (+ 6.8%), the financial sector (+ 8.7%) and construction (+ 6.6%). These factors led to an increase in both real (3.6%) and nominal (10.9 %) GDP, and Russia's gross national income per capita increased by 11.2%.

How many millions of dollars you need to have to get into the 1% richest in different countries

According to data published in February 2024

Getting into the top 1% of the rich in the United States is becoming more difficult. According to a study by Knight Frank, it now takes at least $5.8 million to enter the echelon of the richest people in the world's largest economy, which is almost 15% more than 12 months ago.

Monaco retains the first place on the highest threshold in the world - $12.8 million, which is 3.2% more than a year earlier, while Luxembourg Switzerland more than $8 million is needed in and to enter the echelon.

2022

How the number of millionaires in the world has changed in 22 years

The number of dollar millionaires in the world for the year decreased by 3.5 million people

At the end of 2022, the number of dollar millionaires on a global scale decreased by 3.5 million people - to 59.4 million. This is stated in a report released on August 15, 2023 by the Swiss financial conglomerates Credit Suisse and UBS.

At the same time, in 10 years, the number of millionaires in the world has more than doubled. In 2012, there were 28.5 million dollar millionaires in the world - most of them with a fortune of $1 million to $5 million. And - a million people with a fortune of more than $10 million.

In 2022, after ten years, there were already 59.4 million millionaires, and 2.8 million people with a fortune exceeding $10 million.

It is noted that as of the end of 2022, total net private wealth decreased on an annualized basis by 2.4%, or by $11.3 trillion, amounting to $454.4 trillion. This marked the first fall since 2008. This picture is explained by the current macroeconomic situation, the crisis and the high inflation rate. From a geographical point of view, the loss of wealth was largely concentrated in wealthier regions such as North America and Europe, which together lost $10.9 trillion.

The evolution of welfare has proved resilient in the era COVID-19 and has grown at a record pace in 2021. But inflation, an increase in interest rates and currency depreciation caused a sharp change in the situation in 2022. We expect global wealth to grow by 38% over the next five years to reach $629 trillion by 2027, "said Nannette Hechler-Fayd'herbe, regional investment EMEA director and global head of economics and research at Credit Suisse.

The worst welfare losses in 2022 were observed in, USA,, and Japan China. To Canada On the Australia other hand, the maximum positive dynamics showed,,, and. Russia Mexico India Brazil

In terms of the number of millionaires, the dollar United States is in the lead with 22.71 million fatosum, that is, about every 15th resident of the country or 38% of the total number of millionaires in the world. In second place is China with 6.23 million rich, and closes the top three - France 2.82 million. The top ten also included Japan (2.76 million rich), (Germany 2.63 million), (Britain 2.56 million), Canada (2.03 million), (Australia 1.84 million), (1.34 Italy million) and (1.25 South Korea million).^[3]

Number of ultra-rich in Europe

Ultra high-net-worth individuals, UHNWI are individuals with a net worth of at least USD 30 million in 2018 dollars.

According to data available for June 2022

2021

Global wealth rose to a record $530 trillion over the year

In 2021, global wealth reached a record high of $530 trillion, helped by strong stock markets and a sharp increase in demand for real assets, according to a report published by the Boston Consulting Group (BCG) on June 9, 2022.

The report said that despite geopolitical and economic destabilizers such as inflation and the start of Russia's special operation in Ukraine, about $80 trillion of new wealth is likely to be accumulated over the next five years to 2026. In 2023, Hong Kong is likely to overtake Switzerland as the country managing the largest amount of private cross-border capital, ending more than 200 years of Swiss dominance.

Global wealth rose to a record $530 trillion over the year

Шаблон:Quote 'Welfare development is resilient and even amid geopolitical shocks growth rates will remain positive, said Anna Zakrzewski, global leader in BCG's wealth management segment and co-author of the report. {{quote 'While this stability provides huge opportunities for asset management executives, they must make strategic decisions to remain competitive. Wealthy customers are looking for next-generation offerings and next-level services, including cryptocurrencies, individualization and digitization. The most important question facing the heads of wealthy companies today is not what initiatives to give preference to, but how best to implement them. }} The report predicts that the value of wealth assets will continue to rise in all regions. But the highest rate of wealth growth will continue in the Asia-Pacific region, where asset values will increase by 8.4% per year through 2026. If this pace continues, then by 2026 almost a quarter of world capital will be concentrated in this region.

Wealth growth in the Middle East and Africa will reach 5.4% year-on-year in the next five years, the biggest overall jump in wealth growth in the region. In North America, wealth growth will be slower than in previous years, with an estimated annual growth rate of 4.7% through 2026, below the five-year average of 9.1%. Similarly, in Western Europe, wealth growth is likely to slow from about 4.5% over the past five years to less than 4% per year through 2026.^[4]

Top 10% control 60% to 80% of wealth

According to a group founded by French economist Thomas Piketty, announced in December 2021, the share of global wealth owned by billionaires has grown to a record level during the COVID-19 pandemic.

About 2,750 billionaires control 3.5% of the world's wealth, according to a report by the Paris-based Global Inequality Lab. This is significantly more than 1% in 1995.

In most regions of the world, the richest 10% control 60% to 80% of wealth. However, the report highlights some clear regional differences.

Latin America and the Middle East are the world's most unequal regions, with more than 75% of wealth in the hands of the richest 10%. Russia and sub-Saharan Africa are not far behind.

According to the report, Europe it is the most equitable region in terms of income and wealth.

2020

The World Bank named the richest countries in the world

According to the World Bank for 2020, Luxembourg remains the richest country in the world - there GDP per capita amounted to $117,500. The top three included Singapore ($98,520) and Ireland ($93,180).

Russia in the ranking of the World Bank is located in 52nd place with GDP per capita $29,812. According to this indicator, the Russian Federation was ahead of such countries as Greece, Croatia, Argentina and Malaysia.

The reason why Luxembourg has become the richest country is a large number of banks (there are more than 200 in one capital) and investment funds (about 1000).

Average GDP per capita in the world, World Bank data

All these factors influenced the fact that the state has the largest minimum wage in the world and amounted to $2,190. The average life expectancy in Luxembourg exceeds 77 years.

Minimum GDP per capita (nominal level and PPP) in the poorest countries: Africa,, Burundi,, South Sudan Somalia CAR Fumes,,, Malawi Mozambique Sierra Leone and others. A significant part of these states in the recent past were European colonies, and in recent decades have had permanent internal conflicts. Also very low level of GDP in poor Asian republics (excluding and):,,. Syria North Korea Afghanistan Yemen Tajikistan

The differences between leaders and outsiders in mental GDP reach 155 times in purchasing power parity (PPP) or 460 times in nominal terms. The closing of the gap over the past 20 years has been driven by strong per capita GDP growth in developing Asian countries, with per capita GDP growth in African countries comparable to developed countries.

GDP per capita in the world at the end of 2020 amounted to $17,135, having decreased compared to the 2019 figure of $17,548 due to the COVID-19 coronavirus pandemic.^[5]

The well-being of households in the world increased by 7.4% and exceeded $418 trillion

The total prosperity in the world at the end of 2020 reached $418.3 trillion, which is $28.7 trillion more than a year earlier. The growth was 7.4%, according to Credit Suisse data released at the end of June 2021.

According to experts, wealth per capita of the world population in 2020 increased by 6%. In terms of wealth growth, the United States and Europe were ahead of all other regions. North America accounted for almost half of the total result - $12.4 trillion. In European countries, growth amounted to $9.2 trillion.

The well-being of households in the world in 2020 increased by 7.4% and exceeded $418 trillion

This is followed by the countries of the Asia-Pacific region, excluding India ($4.7 trillion) and China ($4.2 trillion). In India, wealth decreased by $594 billion, and in Latin America - by $1.2 trillion.

The difference in well-being among adults has widened in 2020, according to the study. The number of millionaires in the world increased by 5.2 million and reached 56.1 million people. 2020 was the year when for the first time more than 1% of the world adult population became dollar millionaires in nominal terms. The group of super-rich people grew even more noticeably - by 24%: this is the largest increase since 2003. Since 2000, the number of people with a fortune of 10 thousand to 100 thousand dollars has shown the most dynamic growth, having more than tripled - from 507 million to 1.7 billion people by mid-2020. This is due to the growing prosperity in emerging economies, especially in China, and the growth of the middle class in the developing world, analysts explain.

According to Credit Suisse estimates, in Russia the number of people with a fortune of more than $1 million decreased by 44 thousand in 2020 (from 313 thousand people in 2019 to 269 thousand). The share of total wealth, accounting for 1% of the most affluent citizens, rose from 57.1% to 58.2%. By 2025, it is expected to increase the number of dollar millionaires by 186 thousand people, or 69.1%, to 455 thousand.^[6]

Distribution of wealth in the world

Distribution of wealth in the world in 2020

2019

To be richer than half of the world's population in October 2019, it is enough to have just over $7,000 (the estimate includes both financial and non-financial assets - for example, real estate).

Those with about $21,000 are in the top 30% of the world's wealthiest residents. Having just over $42,000 - in the top 20%.

Those whose wealth is about $110,000 are richer than 90% of the world's population; owning $245,000 in assets - richer than 95% of people.

The threshold for "entry" into the top 1% of the richest people on the planet is about $940,000.

Notes