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Surge in global wealth sees number of millionaires hit new high

Capgemini Economic Growth Stock Market

The total wealth of millionaires grew by 4.7 percent to $86.8 trillion in 2023. AFP - LAKRUWAN WANNIARACHCHI

The world has never had so many wealthy people – with fortunes being fuelled by soaring stock markets and strong economic growth in 2023, a study published Wednesday found.

The number of "high net worth individuals" (HNWI) — those with liquid assets of at least $1 million — rose by 5.1 percent last year to 22.8 million, consulting firm Capgemini reported.

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