Growth and decline in the number of millionaires in the world from 2021 to 2023

The 2020 pandemic brought about the expected economic downturn. However, market conditions were able to recover by 2021. The number of dollar millionaires in the world has grown to 22.5 million. The overall increase was about 8%, only to fall by more than 3% two years later to a full 21 million people. The results for 2023 show a logical result. The spread of epidemics and wars are expected to create difficulties for the economy. In 2021, the total net worth of millionaires was $86 trillion, and by the beginning of 2024, this number had dropped by three trillion dollars.

Interestingly, the general trend does not apply equally to all countries. So in Germany, the wealth of the richest people grew by more than 7% and added a full 6 trillion dollars, taking third place in the ranking. This is data regarding the volume of capital, but if we talk about the number of millionaires, then France was in third place in 2023.

This list does not imply other counting options. Thus, the number of owners of capital over $50 million puts France in ninth place in the ranking, while the country is in third place in terms of the total number of millionaires. By 2023, this figure had decreased in Japan and the UK by more than 466 thousand and 439 thousand people, respectively. Germany, having increased its total capital, lost the number of citizens with capital of more than a million dollars by 253 thousand. We are observing such a radical decrease in the richest inhabitants of the planet for the first time in 10 years; perhaps, similar trends have not been observed since the crisis of 2008.

It is sad and expected that the general labor market will soon feel the changes. However, everything will turn out to be more complicated, as always. This rating does not coincide with the list of the richest countries in the world, or with a competition based on the standard of living of the population. It also has only a partial relationship with the parameter of gross product per capita. This row is headed by Luxembourg, Ireland and Singapore. The quality of life is highest in Switzerland, Germany and Canada. The lowest unemployment rates were recorded in Germany, the Czech Republic, Lithuania and the Netherlands. Let's add here such an unusual parameter as the rating of states by level of mathematical literacy, where Singapore, Macau and Taiwan are declared leaders.