Total private wealth fell 2.4 percent, or $11.3 trillion last year to $454.4 trillion, and wealth per adult sank 3.6 percent or $3,198 to $84,718, according to The Global Wealth Report 2023, published by UBS and Credit Suisse. This is the first global wealth decline since the global financial crisis in 2008.
Financial assets contributed most to wealth declines in 2022, while nonfinancial assets (mostly real estate) stayed resilient, despite rapidly rising interest rates.
Heading the list of losses in country terms in 2022 is the United States, followed by Japan, China, Canada and Australia. The largest wealth increases were recorded for Russia, Mexico, India and Brazil.
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