Rise of High Net Worth Individuals and Wealth in 2023
The number of high net worth individuals (HNWI) and their total wealth have reached record highs in 2023 due to investments in soaring stock markets, according to a study by Capgemini. Their fortunes have risen as stock markets surged, reversing a decline in 2022. Rising wealth and inequality have sparked debates on making the rich pay their fair share of taxes.
Key Points
- HNWI defined as individuals with $1 million in liquid assets
- HNWI wealth reached $86.8 trillion in 2023
- Stock markets surged in 2023
Pros
- Record number of high net worth individuals
- Total wealth of HNWI reached $86.8 trillion
- Stock markets surged in 2023, boosting wealth
Cons
- Rising wealth inequality
- Debates on fair taxation for the rich