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The
Swiss bank's annual wealth survey released on Monday found 100
million Chinese ranked in the global top 10% as of the middle of
this year versus 99 million in the United States.
"Despite the trade tension between the United States and China
over the past 12 months, both countries have fared strongly in
wealth creation, contributing $3.8 trillion and $1.9 trillion
respectively," said Nannette Hechler-Fayd'herbe, global head of
economics and research at Credit Suisse CSGN.S.
The ranks of the world's millionaires have risen by 1.1 million
to an estimated 46.8 million, collectively owning $158.3
trillion in net assets, 44% of the global total, the study
found.
The United States added more than half of this number –675,000
new millionaires – to its sizeable stock.
A decline in average wealth in Australia -- largely due to
exchange rates -- resulted in 124,000 fewer millionaires there,
while Britain lost 27,000 and Turkey 24,000.
The report estimates that 55,920 adults are worth at least $100
million and 4,830 have net assets above $500 million.
It forecast global wealth -- which increased 2.6% over the past
year -- would rise by 27% over the next five years to $459
trillion by 2024. The number of millionaires would also grow
over this period to almost 63 million.
The share of the world's bottom 90% accounts for 18% of global
wealth, compared to 11% in the 2000.
"While it is too early to say wealth inequality is now in a
downward phase, the prevailing evidence suggests that 2016 may
have been the peak for the near future," it said.
(Reporting by Michael Shields; Editing by Ros Russell)
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