The United Kingdom had a tumultuous end to 2015 – 2016, with sharp declines in the exchange rate and the stock market following the vote to leave the EU in the June 23 referendum. Nevertheless, as of the end of June, wealth per adult in pounds sterling was 6 per cent above its level a year earlier. The stock market recovered later, but the outlook is very uncertain, both for the economy and household wealth.
Picture: Credit Suisse
In terms of share of the world's wealth, the United States came top, followed by Japan, China and the UK.
The number of millionaires has increased by 155 per cent, while the number of ultra high net worth individuals rose 216 per cent this year.
The report read:
In large part this is due to the fact that the millionaire and UHNW group bounds are static and absolute, while the whole distribution of wealth is shifting as the world becomes a wealthier place, progressively lowering the bar for membership over time. Increasing inequality can also boost the speed at which new millionaires are created, although the fact that wealth inequality is roughly unchanged since the start of the century suggests that inequality was not the primary driver of rising UHNW numbers at the global level.