A new study finds that the number of billionaires in the United States increased by about half a million last year, faster than any other country.
The number of “affluent” Americans has increased by 7.3 percent and now stands at more than 7.4 million, according to a recent report. CapgeminiBy 2022, the number will reach 6.9 million.
French multinational IT company Capgemini defines a billionaire as someone with $1 million in investable assets, “excluding primary residence, collectibles, consumables and consumer durables.”
Capgemini said the 2023 figures are a recovery compared to 2022, when the net worth of the wealthy declined.
The firm noted that big bills like the Combat Inflation Act and the CHIPS Act, as well as a stock market recovery in the second half of 2023, despite rising interest rates, are some of the keys to the wealth gains recorded in the survey.
According to Capgemini, the ultra-wealthy make up just 1% of the billionaire group, but they own 34% of the wealth.
Globally, the number of billionaires increased 5.1 percent to 22.8 million, and their combined wealth increased 4.7 percent to $86.8 trillion. Outside North America, Asia-Pacific had the second highest increase in billionaires at 4.8 percent. Europe had 4 percent, Latin America had 2.7 percent, and the Middle East had 2.1 percent. Only Africa saw a decrease of 0.1 percent, according to the report.
