That’s the total global net worth, according to Boston Consulting Group.
As we know, a small percentage of the population controls a large portion of this pie. For example, 60,000 people have $100 million or more. They represent 0.0008% of the global population but control 15% of investable assets.
Cap Gemini’s most recent World Wealth Report looks within the millionaire cohort to see what’s going on. Their findings show that 200,000 people in the world have a net worth north of $30 million. They represent just 1% of the population of millionaires around the globe but account for 34% of that group’s wealth.
I spoke about global wealth and changing demographics on this week’s Compound and Friends with Josh Brown and Jason Snipe. Thank you for listening, and have a nice weekend.