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The trade war between Donald Trump and China and fears of rising interest rates caused a loss of $ 2 billion (1.6 billion pounds) on the stock markets for the world's super-rich last year.
After seven years of growing wealth, the richest people in the world have seen the combined value of their badets fall by 3% over the previous year to $ 68.1 billion. as financial markets collapsed in a context of rising tensions, with China being the most affected by the decline.
The trade war between the United States and China and the US Federal Reserve have raised interest rates in a context of growing concern over the global economy, causing a slump in stocks, wiping out investment from pension funds and the world's elite.
According to the annual global wealth report from Capgemini consulting firm, which examines the world's elite, the number of "high net worth individuals" (HNW) has dropped from about 100,000 people to settle in 18 million.
There are 18 million wealthy people in the world
A high net worth person is defined as anyone with an "investment badet" equal to or greater than $ 1 million (£ 641,000). The definition excludes the value of a primary residence and consumer durables such as cars.
Asia contributed about $ 1 billion to the decline in total wealth of the world's super-rich, with China accounting for more than a quarter of the decline in HNWI's total wealth in a context of declining stock markets Chinese.
The wealth of the HNWI was more than $ 68 million in 2018
The wealth of HNWI declined in almost all other regions: Latin America decreased by 4%, Europe by 3% and North America by 1%, while wealth declined. increased by 4% in the Middle East. The total wealth of the super-rich Americans has decreased by 1%, despite the rise in US GDP and the unemployment rate falling to the lowest level since the 1960s.
In the worst annual performance since the financial crisis, widespread turmoil has led to the FTSE All-World Index down 11.5%. More than 240 billion pounds sterling have been wiped out of the value of the shares listed on the London Stock Exchange, while the Shanghai Composite Index has collapsed by 25%, leaving investors suffering heavy losses.
"The global stock markets started the year 2018 with a solid rating, but as the year progressed, the momentum was lost and the year ended on a year – end. low rating, mainly because of rising interest rates and commercial concerns, "said Capgemini.
More than 70% of the richest people in the world come from just eight countries
While the rich of the world suffered heavy losses, their position always contrasts with the rest of the planet. The 18 million HNWI people have at least $ 3 million each on average, while the total wealth stack of $ 68.1 million is worth almost as much as the total output of the global economy each year.
Oxfam warned earlier this year that the increasing concentration of global wealth means that 26 billionaires have as many badets as the 3.8 billion people who make up the poorest half of the planet's population.
According to a study published last week by the International Labor Organization, nearly half of the world's payroll is recovered by the top 10% of workers, while the lowest 50% receive only 6.4%. %.
Although the wealth of the super-rich declined last year, the stock markets resumed their life in 2019 after the Fed and the European Central Bank abstained from raising interest rates, which would have probably to strengthen the portfolios of HNWI investors.
The hope of an agreement between Washington and Beijing on the trade war between the two largest economies in the world has also dampened global economic growth over the past year.
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