Marketwatch (September 20)
“The number of millionaires in the world is set to nearly double by 2026, despite rising interest rates, looming recession fears and a recent plunge in net worth for some of the world’s wealthiest people.” All told, the number of millionaires “is expected to jump 40% and reach 87.5 million over the next five years.”
Tags: 2026, 87.5 million, Double, Fears, Interest rates, Millionaires, Net worth, Plunge, Recession, Wealthiest, World
McKinsey Global Institute (November 15)
Since 2000, net worth has tripled “to $510 trillion, or 6.1 times global GDP, with China accounting for one-third of global growth.” The increase “mainly reflects valuation gains in real assets, especially real estate, rather than investment in productive assets that drive our economies.” Remarkably, the “historic link between the growth of net worth and the growth of GDP no longer holds.”
Tags: $510 trillion, 2000, China, Economies, GDP, Global growth, Investment, Net worth, Productive assets, Real assets, Real estate, Valuation gains
New York Times (July 1)
“There’s an anomaly in an economy that is supposedly running flat out: Many families still haven’t recovered the wealth they lost in the financial collapse…. Despite high stock prices and record home prices, household net worth since 2007 has decreased for all income groups — except the top 10 percent.”
Tags: Anomaly, Economy, Families, Financial collapse, Home prices, Household, Net worth, Stock prices, Wealth
Fortune (January 28)
Ingvar Kamprad, the founder of Ikea, died at 91. With an estimated net worth of $58.7 billion, he was the world’s eighth-richest person. Renowned for living miserly, he created a revolution in furnishings. In 2005, he was named “the most influential taste-maker in the world” by the U.K. style magazine Icon, which wrote, “‘if it wasn’t for Ikea, most people would have no access to affordable contemporary design. The company has done more to bring about an acceptance of domestic modernity than the rest of the design world combined.’”
Tags: Affordable, Contemporary, Design, Icon, Ikea, Influential, Kamprad, Miserly, Net worth, Rich, Taste-maker, U.K.
Fortune (June 19)
Amazon’s all-time high stock price put founder Jeff Bezos ”about $4 billion away from overtaking Gates, who is worth about $90 billion…. Since Bezos net worth is largely tied to his 78.9 million shares of Amazon, becoming the world’s richest person is completely within the realm of possibility. After all, his net worth has already shot up by $19.3 billion in the last six months thanks to strong earnings and growing investor confidence in the economy, sending Amazon’s stock 35% higher since the start of the year.”
Tags: Amazon, Bezos, Confidence, Earnings, Economy, Gates, Investor, Net worth, Stock price, World's richest
New York Times (January 6)
“To put the rise of China in perspective, “the 70 richest delegates to China’s National People’s Congress have a collective net worth of almost $90 billion…. That’s more than 10 times the collective net worth of the entire American Congress.”
“To put the rise of China in perspective, “the 70 richest delegates to China’s National People’s Congress have a collective net worth of almost $90 billion…. That’s more than 10 times the collective net worth of the entire American Congress.”
Tags: China, Congress, National People's Congress, Net worth, U.S.
Barrons (January 3)
During the 2012 “ebb and flow of fortunes,” several shifts took place among ultra high net worth (UHNW) individuals. UHNW individuals have a net worth of $30 million and up, and their numbers increased by 0.6% to 187,380 in 2012. Their $25.8 trillion in combined wealth “is roughly double the U.S.’s GDP.” In general, UHNW individuals did better during 2012 in the U.S., where fortunes were up, than in Asia, which lost 2.1% of its UHNW members and 6.8% of its collective net worth. Australia, New Zealand and the rest of Oceania witnessed “the highest percentage of growth in its UHNW population, up an impressive 5.9%,” with overall wealth rising 4.4%.
Bloomberg (July 16)
“For the first time in recent history, the average Canadian is richer than the average American…. The net worth of the average Canadian household in 2011 was $363,202, while the average American household’s net worth was $319,970.” Canadians are also enjoy a lower unemployment rate at 7.2% versus 8.2% for the U.S. Canadians are benefiting from the Alberta tar sands, which now ranks as the world’s third largest oil reserves.
Tags: Canadian, Net worth, Tar sands, U.S., Unemployment
