Millions became millionaires during the pandemic

Millions became millionaires during the pandemic

Over five million people became millionaires worldwide in 2020. As many people who were only poor became even poorer, the number of millionaires increased by 5.2 million to 56.1 million worldwide, according to Credit Suisse's findings. In 2020 more than 1% [...]

As many people who were only poor became even poorer, the number of millionaires increased by 5.2 million to 56.1 million worldwide, according to Credit Suisse's findings.

In 2020 more than 1% of adults worldwide became first millionaires. Recycle of market markets and rising prices helped increase their wealth.

According to researchers, the creation of wealth seems to be “completely disconnected” from the economic problems of the pandemic. Economist Anthony Shocks said the pandemic had “short-term impact on global markets”, but added it was largely overturned by the end of June 2020.

Since the beginning of the 21st century, the number of people with wealth between $10,000 and $100,000 was more than triple from 507 million in 2000 to 1.7 billion in mid - 2020.

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