Millionaires are now controlling 41% of the world’s wealth and it is expected that his share of the world’s wealth will increase to more than 50% by 2019.
As of today, USA leads in the number of millionaires followed by China. Japan ranks third on the list of largest number of millionaires. Stock market is the major source of this wealth. The growing fortunes of the wealthy are owed largely to rising stock markets and asset prices around the world. According to BCG, 73 percent of the gains in global private wealth last year came from market performance on existing assets rather than newly created wealth or businesses.
“The wealthier are getting more and more wealthy,” said Anna Zakrzewski, a BCG partner and managing director. “They have a much larger share of their wealth invested in equity markets and last year was a good year for market performance.”
Reportedly the wealth gap is increasing in the world. More and more wealth is being concentrated in few hands while millions of people are going hungry in poor countries. The growing wealth gap is worrying some academics who are questioning the very basics of the capitalist system calling it inherently unfair.