As the world's long standing super power, it is no shock that the United States has the largest concentration of millionaires at 15.3 million residents. Over the last year, the world’s total wealth has grown by 6% to $280 trillion. What is most interesting is that nearly $17 trillion of that was new wealth. What you may not want to hear is that the majority of this newly created wealth was done so at the top, yes that’s right the already filthy rich 1%.
The ultra-exclusive 1% club now owns over half of the world’ wealth. That is an increase of 5% since 2001. Three of the United States richest men, Bill Gates, Jeff Bezos, and Warren Buffett own more than half of the wealth of the United States at this moment. A report from CNBC states that the top 25 billionaires possess more than $1 trillion in wealth. Jeff Bezos has become the richest person in the US this year, than lost his spot and then eventually gained his place once again thanks to Amazon’s rise in stock price.
The best part about all of this is that there are many more future millionaires on the horizon. As it currently stands there are 36 million millionaires on the planet. This number is expected to rise to 44 million by 2022. That is 8 million more people who will become millionaires in just five years who are not millionaires right now. I don’t know about you, but that is exciting. The goal is to figure out how to get your seven figures.