Ranks of world’s millionaires swell to more than 20 million

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Capgemini
Capgemini

The number of millionaires worldwide passed the 20-million mark during 2020, according to new data released by consulting company Capgemini on Tuesday.

The number of people with a net worth of 1 million dollars or more grew by 6.3 per cent, to 20.8 million people, during the year the coronavirus was tearing its way through society, according to Capgemini.

The overall wealth owned by this group of people grew by 7.6 per cent, for a pot of 80 trillion dollars. A lot of the gains came thanks to greater stock market valuations.

The country’s with the most rich people are, in order, the US, Japan, Germany and China. Combined, these four countries are home to 63 per cent of the world’s millionaires.

The fastest growth in 2020 was among the super-rich, those with a net worth of at least 30 million dollars. This club grew by 9 per cent in 2020.

Capgemini monitors share prices, bonds owned, alternative investments, cash and property when making its valuations. It also relies on data from international organizations like the World Bank as well as survey information from the wealthy and their wealth managers.

The rankings are broadly in line with a series of other rankings of the world’s rich that have come out of late.

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