According to the Boston Consulting Group’s twenty fifteen Global Wealth Report, millionaires globally controlled forty one percent of the world’s private wealth last year. That was up slightly from the year before and by twenty nineteen, they will control forty six percent of worldwide wealth. As reported by CNNMoney and other news sources, the number of millionaires increased to seventeen million last year, up by about two million from the year prior.
By itself, China accounted for about half of that increase. Still, at seven million, the U.S. still has more millionaires than any other nation. Last year, private wealth in the Asia-Pacific region increased five times more quickly than in North America. Total private wealth globally rose by twelve percent in twenty fourteen to one hundred and sixty four trillion dollars, aided by gains in stock prices in much of the world.
Total private global wealth is expected to exceed two hundred and twenty two trillion dollars by twenty nineteen. Importantly, the report only includes certain forms of wealth. The report qualifies private wealth as relatively liquid holdings such as cash, stock and bonds. Other assets, which are more difficult to quickly monetize like real estate and business ownership, are excluded from calculations.
