There Are Over 22 Million Millionaires In The World: An All-Time High
In a world marked by economic disparity, the latest study from Capgemini reveals an unprecedented surge in the number of high net worth individuals (HNWI). Published on Wednesday, the annual World Wealth Report highlights that the number of HNWIs—defined as individuals with liquid assets of at least $1 million—rose by 5.1 percent last year, reaching an all-time high of 22.8 million globally. This marks a significant milestone in wealth accumulation, with their collective wealth reaching $86.8 trillion in 2023, a 4.7 percent increase from the previous year. This surge in wealth aligns with soaring stock markets that have significantly boosted the fortunes of these individuals. In the United States, the tech-heavy Nasdaq saw an impressive 43 percent increase, while the broader S&P 500 gained 24 percent. European markets also performed robustly, with Paris's CAC 40 growing by 16 percent and Frankfurt's DAX advancing by 20 percent. These remarkable gains ha...
