The richest 0.2% of the globe’s population now controls more than 20% of world assets.
A boom in the global stock markets have helped create almost one million new millionaires as well as increasing the wealth of seriously affluent people.
In 2014, the number of people worth more than $1 million in liquid assets reached a record 14.6 million, having increased by nearly 7% over the year.
This means that 21.4% of all the wealth in the world is in the hands of just 0.2% of people. Their assets were worth $56.4 trillion, according to experts.
Most of that wealth, $16.2 trillion, was in North America, followed closely by Asia where the wealthiest people had accumulated assets worth $15.8 trillion. It is anticipated that by the end of this year, there will be more wealth in Asia than in North America.
Asset wealth in Europe was worth $13 trillion.
Many of the world’s wealthiest people have turned to the stock market for their investments, especially in light of current low interest rates. The US stock market of late has reached record highs.
