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Almost 50% World’s wealth with millionaires, new study shows

As per the latest study, total number of millionaires around the globe grew nearby 47 million since last year. At present they own close to 50% of world’s wealth. Despite of slowdown of global economy, volatility in the stock market and trade wars, millionaires around the globe have increased more than a million between the mid of 2018 to 2019. Now total number of millionaires in the world is around 46.8 million and they took hold of $158.3 trillion which is exactly 44% of world’s wealth.

America has maximum number of millionaires and it is also growing exponentially. During the last year, US added around 675,000 millionaires who brought their total number around 18.6 million. Japan added near about 187,000 millionaires and now the total is greater than 3 million. Though China recorded economic slowdown due to trade wars, but it added 158,000 millionaires and has a total 4.5 million millionaires in the country.

Australia on the other hand lost millionaire count and now it has only 1.2 million in number. Experts’ stated that the decline is primarily because of exchange rates as millionaires are basically measured in American dollars. Though America has more millionaires than China, as per new report China has more number of global wealthy which is defined as people who are on top 10% of world’s wealth. In several Democratic primaries wealth concentration at the top is the hot topic of conversation.

Sens. Bernie Sanders and Elizabeth Warren had proposed wealth-taxation as their primary campaign for presidency elections. Their proposals will impose taxation on assets which have been accumulated as well as on savings. Bottom-half population of the world has low global wealth less-than 1%. 90% adult population of the world which is around 4.5 billion only has 18% of world’s wealth. Top 1% population controlled 47% of world’s wealth back in 2000. The % is 45% during 2019. Thus, it can be said that inequality is on decline.

Kelly Rivera
Kelly Rivera Author
Lead Editor At Global Newspaper 24

Kelly has been one of the most knowledgeable personalities in the Global Newspaper 24’s Business section team. While she has completed MBA in Finance Degree, she has always demonstrated her core knowledge in business management and affection toward the freedom of expression through words by crafting superlative news reports for all the readers of the Global Newspaper 24 platform. At present, Kelly works as the Head of the Business Department and is responsible for checking all the news reports for readability while adhering to the quality standards of Global Newspaper 24. Kelly is a super-active personality that loves to write news reports on various topics such as mergers & acquisitions, latest product launches, and major business events.

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