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Bloomberg
The US minted more than than half the world’s new millionaires last year as investments in equities and tech stocks propelled assets higher.
The world’s wealthiest country accounted for 675,000 new millionaires, according to Credit Suisse Group AG’s Global Wealth Report. Japan and China contributed the second- and third-most, according to calculations based on US dollars.
A significant portion of wealth in the US is allocated to equities, which are getting a boost from rising values in the tech sector, Nannette Hechler-Fayd’herbe, chief investment officer for international wealth management at Credit Suisse, said at an event in Zurich.
Wealth per adult in the US has increased each year since 2008.
Overall, it has been a slow year for growth in wealth globally that underscored how investments in different asset classes affected returns.