The Rich Will Keep Getting Richer Even In The Face Of A Recession, Especially In China, Credit Suisse Says
Chloe Taylor, Tristan Bove Tue, September 20, 2022
Even 2022’s eviscerated global stock markets and historic surge in interest rates worldwide won’t be enough to stop the millionaire mill from churning.
The number of millionaires in the world is set to hit 87 million by 2026, a 40% increase over the 62 million individuals with a net worth above $1 million in 2021, according to Credit Suisse’s annual Global Wealth Report, released on Tuesday, which found that global wealth growth is set to rebound despite a slowdown in 2022.
Emerging markets and middle-income countries will be the primary drivers of global growth over the next four years, the report found. Leading the pack in growth speed—despite years of COVID-related lockdowns and forecasts of a slowing economy—will be China, where the number of millionaires is set to double in the next four years.
The number of Chinese millionaires is set to grow from 6.2 million in 2021 to 12.2 million by 2026, the report said, a nearly 97% increase. While the U.S. is set to retain its throne as the country with the most millionaires in 2026—with 27.7 million—it will only be a 13% increase over 2021.
“We expect household wealth in China to continue to catch up with the United States, advancing the equivalent of 14 U.S. years between 2021 and 2026 to reach $119 trillion in real terms, similar to the United States level in 2019,” the report read.
In fact, the report said millionaires will be growing across the world, but it largely won't feel as good for them, thanks to inflation.
Inflation set to create millions of millionaires
In the Report, Credit Suisse predicted that the number of millionaires worldwide would exceed 87 million in 2026—up from 62.5 million in 2021.
However, analysts noted that millionaire status was becoming easier to achieve due to elevated inflation rates. “While some reversal of the exceptional wealth gains of 2021 is likely in 2022/2023 as several countries face slower growth or even recession, our five-year outlook is for wealth to continue growing,” Nannette Hechler-Fayd’herbe, global head of economics and research at Credit Suisse, said in the report.
The U.S. was still forecast to retain the world’s most millionaires in 2026, with Credit Suisse predicting 27,664 Americans would qualify as millionaires within the next five years.
View this interactive chart on Fortune.com
The number of millionaires calling the U.K., Canada and Japan home was also expected to increase substantially by the end of 2026.
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https://news.yahoo.com/rich-keep-getting-richer-even-163738655.html
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A community has builders, materials and willing workers – but needs financing.
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Bruce’s Big Call Dinar Intel Thursday Night 10-29-26
Transcribed By WiserNow Emailed To Recaps (INTEL ONLY)
Welcome, everybody, to the Big Call tonight. It's Thursday, october 29, and you're listening to the Big Call. Thanks, everybody, for tuning in again. We're on our regular Tuesday, Thursday, Tuesday, Thursday night pattern, which is good. We're still we're back, and we look forward to putting out a nice call tonight for everybody.
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Ariel: IQD Holders will want to Read this
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You Want To Read This IQD Holders:
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By Reset Intelligence | @EXIT_FIAT
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Good Morning Dinar Recaps,
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For anyone following the world of foreign currency investment, staying informed requires a steady nerve and a willingness to sift through conflicting reports.
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KTFA
Thursday Night Video
FRANK26…10-29-26….THE 15th/15%
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
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Brazil’s Massive Crash Is A Sign Of Things To Come In The West
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Rob Cunningham: XRP, the National and Global Opportunity
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The emerging connections are substantial.
Stern Drew: Trump himself Confessed about Upgrading the Financial System
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Donald Trump Himself Confessed About Upgrading the Financial System
This is not a conspiracy theory anymore!!
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Good Afternoon Dinar Recaps,
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Coffee with MarkZ, joined by Dr. Scott Young. 10/29/2026
MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions
MZ: Militias and fake dinars dominate the chat in Iraq, affordability, Iran and more before Dr. Scott takes your questions.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
TNT:
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TNT:
Tishwash: Al-Fariji: The revenue generated from the change in the exchange rate does not represent a profit.
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