$11.3 trillion in global wealth evaporated last year in the first drop since the Global Financial Crisis. But the next few years look ‘brighter’

Traders work on the floor of the New York Stock Exchange during morning trading on August 10, 2023, in New York City. (Credit: Michael M. Santiago—Getty Images)

In 2022, worldwide wealth declined for the first time since the Global Financial Crisis, as stock markets tumbled and the strong dollar weighed on asset prices internationally, according to a new report.

The Global Wealth Report 2023, published Tuesday by UBS and Credit Suisse, found that total private wealth fell 2.4% or $11.3 trillion last year to $454.4 trillion, and wealth per adult sank 3.6% or $3,198 to $84,718.