While the United States tops the list in terms of wealth by country, Switzerland leads the world in wealth per adult, according to a report by Credit Suisse.
In its new global wealth report, the Global Wealth Report 2018, Credit Suisse finds that in the 12-month period up to mid-2018, total global wealth increased by $ 14 trillion ( 12.3 trillion euros) to reach 317 trillion dollars, i.e. a growth rate of around 4.6%.
This rate is lower than last year, but higher than the average growth rate recorded since the start of the 2008 crisis. The United States squats at the top of the rankings, with total wealth having increased in the country every year since. 2008, even when total global wealth suffered a setback in 2014 and 2015. China is recovering, replacing Japan in second place.
A constantly growing wealth
Nonetheless, when it comes to wealth per adult, Switzerland comes far ahead of the pack, with $ 530,240. The country far exceeds second in this ranking, Australia, with $ 411,060. The United States comes in third with “only” 403,970 dollars. Since the turn of the century, wealth per adult has increased by 129% in Switzerland and the country tops the world rankings every year. The appreciation of the Swiss franc against the US dollar has accounted for most of the increase since 2000.
“Switzerland represents 1.8% of the richest 1% in the world, which is remarkable for a country which has only 0.1% of the world’s population,” notes the report. More than 60% of Swiss adults have an estate exceeding 100,000 dollars and 11% are millionaires in dollars. In addition, another report shows that five new billionaires were added in 2017 to the list of very wealthy Swiss residing in the country, bringing the total number to 36.
According to statistics released on October 26 by UBS, the total fortune of these people increased last year by 19% to 123.5 billion dollars, driven in particular by the good health of the financial markets. Among the largest Swiss fortunes established in the Confederation, figure in particular August von Finck, who holds stakes in Mövenpick and Von Roll. There are also the Nordmann and Maus families, owners of the Lacoste and Gantavec clothing brands, among others, with a fortune of $ 3 billion to $ 4 billion. The Stern family, owners of watchmaker Patek Philippe, also live in Switzerland with a fortune valued between $ 3 billion and $ 4 billion.
By Romain Fournier