Tags: Credit Suisse | millionaire | individuals | billionaire

Credit Suisse: Global Millionaire Population Will Soar 51 Percent in 5 Years

By    |   Wednesday, 15 October 2014 02:34 PM

The next five years will be very good to people around the world aspiring to be millionaires, according to a Credit Suisse survey.

It forecasts that the global millionaire population will jump to 53 million during that period from 35 million presently, thanks to a surge of new millionaires in emerging markets.

The number of Chinese millionaires will rise by 100 percent to break 2 million, the bank predicts. It expects Indonesia to enjoy a gain of 64 percent, India 61 percent, Mexico 57 percent and Brazil 47 percent.

The United States now ranks No. 1 with 14.2 million millionaires, according to Credit Suisse. And we will hold on that that spot, as the total climbs 39 percent to 19.7 million by 2019, the survey says.

It estimates that average wealth per adult worldwide will rise $18,000 in the next five years, or 31 percent, to $74,000.

The number of so-called ultra high net worth individuals — whose net worth exceeds more than $50 million — has also risen. The report estimates that there are now 128,200 of these individuals worldwide, with the highest concentration in the U.S. The United States has 62,900 ultra high net worth individuals, equivalent to 49 percent of the global total.

This represents an increase of 9,600 from mid-2013, an astonishing rise for a single year — more than the total number of ultra high net worth individuals residents in China, which occupies second place with 7,600 individuals.

Meanwhile, the global population of billionaires expanded 7 percent this year to a record 2,325, from 2,170 in 2013, according to a Wealth-X/UBS study.

Today's billionaires have total wealth of $7.29 trillion, up 12 percent from $6.52 trillion a year ago. That means billionaires control 4 percent of the world's wealth, according to the report.

The United States has the most billionaires, with 571, followed by China with 190, the United Kingdom with 130, Germany with 123, Russia with 114 and India with 100. The United States minted 57 new billionaires this year.

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The next five years will be very good to people around the world aspiring to be millionaires, according to a Credit Suisse survey.
Credit Suisse, millionaire, individuals, billionaire
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2014-34-15
Wednesday, 15 October 2014 02:34 PM
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