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New York - Millionaires Projected To Control More Than Half Of Global Wealth By 2019

Published on: June 15, 2015 11:30 PM
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New York - A Global Wealth report states that millionaires are expected to control 46 percent of the global wealth by 2019.

The report, from Boston Consulting Group (BCG) said the wealth gap will continue to widen as the number of millionaires grows, reports CNBC (http://cnb.cx/1cXeefh ).

The report says the number of millionaires grew worldwide to 17 million in 2014, and that millionaires around the world control 41 percent of $164 trillion in private global wealth.

The wealthy can owe their fortunes to rising stock markets and existing asset prices.

The U.S. has the largest number of millionaires, according to the report, with 6.9 million. Millionaires are described as having households with $1 million in cash, stock and securities, pensions and other assets.

China ranked second and Japan ranked third with 1.1 million millionaires.

The report also focused on a the growing distance between the rich and the super-rich, those who are billionaires or who have hundreds of millions of dollars.

The number of $100 million and up households is predicted to grow by 19 percent around the world and 12 percent in North America by 2019, while those with $1 million to $20 million, or “lower high-net worth” households, or is expected to grow by 6.9 percent.

Information taken from CNBC.


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Read Comments (16)  —  Post Yours »

1

 Jun 16, 2015 at 07:48 AM Anonymous Says:

Don't think for a minute that the poor people resent this and will make life unpleasant.

2

 Jun 16, 2015 at 08:09 AM Mazal1 Says:

The rent is too hi

3

 Jun 16, 2015 at 09:03 AM ydeneydene Says:

Hashem does the מי יעשר or ח"ו the oposite.

4

 Jun 16, 2015 at 09:13 AM puppydogs Says:

They also make up the overwhelming majority of Tzedakah donors in the world.

5

 Jun 16, 2015 at 09:23 AM huvsa Says:

Reply to #2  
Mazal1 Says:

The rent is too hi

It really, really is.
At present it takes me about 3 weeks of working to have the rent. What's up with that?
Is it *possible* that rents can go down? It's a national problem.
Rents in Brooklyn are almost 10 times higher than they were 30 years ago, when I paid $290 for a one-bedroom on Avenue K and East 15th Street.
Something is deeply wrong. Hashem help.

6

 Jun 16, 2015 at 10:57 AM WakeUp2 Says:

Not a big deal! Due to inflation Thousandaires become Millionaires...

7

 Jun 16, 2015 at 11:17 AM Lakewood Landlord Says:

Reply to #5  
huvsa Says:

It really, really is.
At present it takes me about 3 weeks of working to have the rent. What's up with that?
Is it *possible* that rents can go down? It's a national problem.
Rents in Brooklyn are almost 10 times higher than they were 30 years ago, when I paid $290 for a one-bedroom on Avenue K and East 15th Street.
Something is deeply wrong. Hashem help.

Guess what the mortgage is ten times higher than 30 yrs ago too. Its directly correlated. Its not the landlords fault. He also has to pay his bills. By the way it takes me two weeks of work to pay my morgage and I live in NJ where my mortagage is a quarter of what it would be in Brooklyn.

8

 Jun 16, 2015 at 11:31 AM MAYERFREUND Says:

Reply to #7  
Lakewood Landlord Says:

Guess what the mortgage is ten times higher than 30 yrs ago too. Its directly correlated. Its not the landlords fault. He also has to pay his bills. By the way it takes me two weeks of work to pay my morgage and I live in NJ where my mortagage is a quarter of what it would be in Brooklyn.

"quarter of what it would be in Brooklyn"

Sorry but your math is wrong. A quarter of 3 weeks is less then one week.

9

 Jun 16, 2015 at 11:54 AM A Says:

Reply to #4  
puppydogs Says:

They also make up the overwhelming majority of Tzedakah donors in the world.

It's funny that you say that because I read an article about this just the other day. The rich give approximately 1% of their earnings to charities while the poor give about 3.5% of theirs. Of course 1% of millions comes out to considerably more than 3.5% of thousands but it says something that poor people give more readily and sacrifice to help others. Also, according to this report, the rich tend to give their charity to institutions like universities & museums while the poor tend to give their charity to organizations that feed, give health care, and help the poor, children, elderly, sick, & disabled people.

10

 Jun 16, 2015 at 12:13 PM puppydogs Says:

Reply to #9  
A Says:

It's funny that you say that because I read an article about this just the other day. The rich give approximately 1% of their earnings to charities while the poor give about 3.5% of theirs. Of course 1% of millions comes out to considerably more than 3.5% of thousands but it says something that poor people give more readily and sacrifice to help others. Also, according to this report, the rich tend to give their charity to institutions like universities & museums while the poor tend to give their charity to organizations that feed, give health care, and help the poor, children, elderly, sick, & disabled people.

It's funny you say that because I read an article about this today that says "Charities Emerge From Recession With Record Donations Up To $358 Billion".

Charitable giving in the United States has surpassed pre-recession levels for the first time in seven years, according to a national organization that tracks the generosity of Americans.

11

 Jun 16, 2015 at 02:21 PM A Says:

Reply to #10  
puppydogs Says:

It's funny you say that because I read an article about this today that says "Charities Emerge From Recession With Record Donations Up To $358 Billion".

Charitable giving in the United States has surpassed pre-recession levels for the first time in seven years, according to a national organization that tracks the generosity of Americans.

Congratulations, you can read VIN articles and so can I. What exactly does this article have to do with your original statement that the rich are the most generous donors to charity and my response to that? Nothing, as far as I can tell.

12

 Jun 16, 2015 at 04:46 PM Rafuel Says:

Reply to #1  
Anonymous Says:

Don't think for a minute that the poor people resent this and will make life unpleasant.

If the poor knew what was good for them, they not only wouldn't resent it, they would celebrate it as good news. For any economy to grow, some people will have to get rich and some very rich. And growing economy benefits all. The surest way to stop rich men from increasing in number and increasing their wealth is to impede economy's growth, better yet, to shrink it. And then how much better off your poor will be?

Don't believe me? Then tell me, when was the last time you asked a destitute man for a job?

13

 Jun 16, 2015 at 05:12 PM Lakewood Landlord Says:

Reply to #8  
MAYERFREUND Says:

"quarter of what it would be in Brooklyn"

Sorry but your math is wrong. A quarter of 3 weeks is less then one week.

Thats my point. My mortgage is a quarter of what my montly moragage would be in Brooklyn. Yet I still must work 2 weeks a mon to pay for it. Thus if a brooklyner would be in my boat he would have to work 2*4 = 8 weeks a month to pay for it which is impossible. Thus working 3 wks a month to live in brooklyn is not much. Sorry if I lost you on my math

14

 Jun 16, 2015 at 06:32 PM puppydogs Says:

Reply to #12  
Rafuel Says:

If the poor knew what was good for them, they not only wouldn't resent it, they would celebrate it as good news. For any economy to grow, some people will have to get rich and some very rich. And growing economy benefits all. The surest way to stop rich men from increasing in number and increasing their wealth is to impede economy's growth, better yet, to shrink it. And then how much better off your poor will be?

Don't believe me? Then tell me, when was the last time you asked a destitute man for a job?

Because they account for the majority of charitable donations, plain and simple. I don't care about percentages as they are irrelevant, donations are measured in terms of dollars and sense. So while you rant all you want about 1% I would take the 1% of a million while you can have the 3.5% of a thousand.

15

 Jun 17, 2015 at 02:25 PM Anonymous Says:

Reply to #14  
puppydogs Says:

Because they account for the majority of charitable donations, plain and simple. I don't care about percentages as they are irrelevant, donations are measured in terms of dollars and sense. So while you rant all you want about 1% I would take the 1% of a million while you can have the 3.5% of a thousand.

I can see that you're quite the math scholar. I'm quite confident that a small child can understand that if you spread the money from the billionaires who give 1% to the rest of the people who give 3.5% there would be an additional 2.5% of charitable contributions. However, to fully grasp this you would have to pull your head out of the insulated right-wing bubble that surrounds it and get some oxygen to your atrophied brain cells.

16

 Jun 17, 2015 at 02:58 PM Rafuel Says:

Reply to #14  
puppydogs Says:

Because they account for the majority of charitable donations, plain and simple. I don't care about percentages as they are irrelevant, donations are measured in terms of dollars and sense. So while you rant all you want about 1% I would take the 1% of a million while you can have the 3.5% of a thousand.

I don't think you are responding to me,

17

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