The wealth of people around the world is growing, and not just those who are already extremely wealthy.
The percentage of the world’s population that is wealthy between $10,000 and $100,000 has more than doubled in recent decades, while the group that is poorest in wealth (less than $10,000) has almost been destroyed.
This list, which uses data from Art Basel and UBS, shows how the distribution of wealth changed globally between 2000 and 2023.
In 2000, 75% of adults were in the lowest wealth group (under $10,000); by 2023, that number had dropped to 40%. Mostly in Africa, the majority of these people live in less developed nations.
On the other hand, during the past 20 years, the group with wealth between $10,000 and $100,000 has experienced the biggest growth.
Even though their percentage has doubled since 2000, millionaires still make up only 2% of the world’s population.
Since 2016, the number of millionaires has increased by the greatest percentages in North America and the Middle East, by +52 and +50 percent, respectively.
The percentage of the population with assets between $100,000 and $1 million has increased from 8% to 16%.
In every wealth band and over any time horizon, the data consistently indicates that, at least globally, people are more likely to move up the wealth ladder than to fall down it, according to UBS.
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