The entire wealth pyramid, from the less affluent groups at the bottom up to the wealthiest individuals at the top shows an enormous disparity. The 3.2 billion adults with wealth below USD 10,000 account for 64% of all adults, but just 1.9% of global wealth. In contrast, 42 million millionaires comprise less than 1% of the adult population, but own 45% of household wealth. China is now firmly established in second place with respect to the number of dollar millionaires (behind the United States and above Japan) and in second place also (above Germany) with respect to the number of ultra-high net worth individuals.
Global wealth is projected to rise by nearly 26% over the next five years, reaching USD 399 trillion by 2023. Emerging markets are responsible for 32% of the growth, although they account for just 21% of current wealth. Wealth will primarily be driven by growth in the middle segment, but the number of millionaires will also grow markedly over the next five years to reach a new all-time high of 55 million, while the number of ultra-high net worth individuals will reach 205,000