A new report from consultant Capgemini and RBC Wealth Management suggests the number of millionaires last year surged by nearly one million on an international level.
The number of people with a net worth of at least $1 million jumped by 920,000 last year, reaching 14.6 million. More than one-third, or about 345,000, were from the United States.
It was the sixth consecutive year-over-year increase in the number of millionaires. This gain in personal wealth has been attributed to the climbing stock market.
Here are some of the key metrics behind the study (researchers took into account stocks, bonds and cash but not real estate):
– Wealth held by millionaires globally hit $56 trillion.
– The United States has the largest number of millionaires with 4.4 million. Japan is in second place with 2.5 million, followed by Germany with 1.1 million. China is the world’s largest economy but is in the fourth spot with roughly 890,000 millionaires.
– The wealthiest millionaires with at least $30 million represented one percent of all millionaires, but accounted for a third of total wealth.
How long before anyone can become a dollar millionaire?