Per Bloomberg
Credit Suisse Estimates 87.5M Millionaires in 2026—40% Growth Expected Despite 500 Richest Losing $1.4 Trillion
10/14/2022
Credit Suisse Group AG's Global Wealth Report 2022 said there will be over 87.5 million people with a net worth of over $1 million in 2026 from 62.5 million in 2021.
Despite the Russia-Ukraine war, it was estimated that the number of millionaires globally would increase by 40% in the next five years.
The 500 richest people worldwide have lost $1.4 trillion in cumulative fortune over the first half of 2022. CS estimates a 36% increase in private fortune to $169 trillion by 2026.
The report expects China's household wealth to catch up with the US in 2026. The growth rate in China's wealth from 2021 to 2026 is estimated to be equivalent to 14 years.
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