The world’s wealthiest look poised to get even richer.
A new report by global consultancy Capgemini found wealth among millionaires grew by a record 8 percent last year to $63.5 trillion. Much of that growth was driven by ultra-high net worth individuals, those with $30 million or more in investable assets.
The report is the latest research underlining the idea that the wealthiest households in the world are increasingly capturing a larger share of global wealth.
A June report from The Boston Consulting Group (BCG) found there were 17.9 million households with at least $1 million in investable assets in 2016. Those millionaires, accounting for 1 percent of households in the world, own 45 percent of total private global wealth.
Anna Zakrzewski, a partner at BCG, said the share of wealth held by millionaires is growing. BCG expects millionaires will own half of total global private wealth by 2021, up from roughly one-third 10 years ago.
“The millionaire households are growing almost twice as fast as the affluent segment,” Zakrzewski said.