Turbulence on the stock markets is making global millionaires poorer: Germans still remain in third place

Turbulence on the stock markets is making global millionaires poorer: Germans still remain in third place

Frankfurt/Main – According to a study by the consulting firm Capgemini, the turbulence on the stock markets in 2022 has made many wealthy people around the world poorer. The number of people with investable assets of at least one million US dollars fell by 3.3 percent to 21.7 million. The total value of these assets fell by 3.6 percent to $83 trillion. In Germany, the number of dollar millionaires fell by 20,900 people to 1.61 million, and total assets fell by 2.2 percent to $6.1 trillion. Despite the decline, Germany still maintains third place in the ranking of countries with the most dollar millionaires. The USA remains at the top, followed by Japan and China. The assets of dollar millionaires in Europe fell by a total of 3.2 percent to $18.2 trillion. The North America region recorded the largest decline at minus 7.4 percent to $25.6 trillion. Source: According to a report by Mercury

The impact of the decline in dollar millionaires worldwide and in Germany can be far-reaching. When wealthy people have less money at their disposal, they are able to invest less, consume less, and potentially contribute less to economic development. This can have an impact on the stock market, the real estate market and the overall economy.

For the stock market, this means that less capital is available for investment. This may result in reduced demand for shares and potentially a decline in stock prices.

For the real estate market, a decline in dollar millionaires could mean fewer people are able to buy real estate or invest in the real estate market. This could lead to a fall in property prices.

Overall, the decline in dollar millionaires could also affect overall economic activity. When wealthy people have less money, they may reduce their spending and therefore their contribution to the economy. This can lead to lower economic growth.

However, it is important to note that the decline in dollar millionaires does not necessarily lead to an economic crisis. The impact may vary depending on the magnitude and duration of the decline. However, the financial sector should monitor developments closely and assess possible risks.

Source: According to a report by Mercury