How Much Money Do The Rich Have!? Here’s The Answer!!

How rich are you and how much do you Need to be in the top 1% of richest People in the world I'm rich the numbers Will surprise you in this video we'll Take you through some of the most Interesting findings in the largest Global study on wealth examining not Only personal wealth but also National And Regional economies if you want to Know where money and implicitly power is Flowing and also want to anticipate Future economic shifts you have to watch This Video the report that we're Concentrating on today is the global Wealth report for 2023 it's the 14th Edition of this Flagship report by Credit Swiss this report however is Co-authored by UBS why well as some of You might remember UBS acquired its Fallen rival credit Swiss last year for A bargain 3.25 billion dollar in a Rescue orchestrated by the Swiss Authorities to avert a banking sector Meltdown of course these details are Emitted in the report's introductory Remarks which were so we're told Authored by ikbal Khan the president of UBS Global wealth management instead the P spin celebrates the uniqueness of this Report since for the first time ever It's combined efforts between UBS and Credit Swiss who needs the fine print Anyway regardless of the context this is

An impressive report the authors crunch David goggin's levels of data to compile It and to bring us some fascinating Insights about the state of wealth in The world today which I'll get to in Just a minute but first I have to point Out two things that grind my gears about The intro first KH claims and I quote it Is private wealth that will lead to the Funding needed to create diverse Sustainable societies Khan is putting The BS in UBS here pandering to the Uber Rich implicitly portraying them as benov Saviors rather than in some cases Architects of many of the problems that We face more irritating still Khan or His dude bro Ghost Writer writes and I Quote at UBS wealth management isn't Just one thing we do it's who we are What does that mean anyway Cringe quotes aside the report is Otherwise impressive and very thoughtful So let's jump into some of the findings First up some bad news Global wealth Declined in 2022 that's right Global Wealth fell 2.4% to $44.40 6% to $847 in 2022 these are the latest aailable Figures the bank has so to understand Why wealth declined in 2022 it's Important to look at what happened in 2020 and 2021 more specifically how

Governments responded to covid to Refresh your memory wealthy governments For the most part introduce stimulus Packages to prevent their economies from Grinding to a halt the US for instance Introduced three packages that were Estimated to have cost the government $16 trillion Or about 90% of GDP at one point the Government simply just gave its citizens $1,200 per person plus $500 per child Meanwhile interest rates were low which Encouraged borrowing and economic Activity so what were the consequences Of these policies well one positive side Effect of this was increased liquidity That caused or at least greatly spur on The last crypto bull market more money In people's bank accounts combined with The lack of spending opportunities Caused by Co restrictions resulted in a Surge of capital into crypto pushing Prices of major assets to their all-time Highs but the real impact of the co era Stimulus packages became evident in mid 2021 as inflation levels across the US Started rising at an alarming rate as You can see from the chart here A similar story was playing out across The oecd in other words rich countries At the same time in fact oecd inflation In 2022 was more than double its 2021 Level 99.6% compared with 4% reaching Its highest annual average rate since

1988 why did this happen well as basic Economics dictates when there is more Money in people's pockets or in finance Speak greater liquidity in the economy Inflation becomes more likely and what Do central banks do to combat this That's right they take money out of the Economy by increasing interest rates and Therefore the cost of borrowing why is This context important well it helps to Understand why Global wealth declined For the first time since 2008 as the Global wealth report puts it higher Inflation increased interest rates and Currency depreciation are the three Factors that explain this recent drop in Global wealth this table puts it into Context as you can see when inflation is Taken into account real Global household Wealth grew on average between 2 and 9% So far this Century the two exceptions Were 2008 which saw a decline of 7% and 2022 which was about half of that okay That's the first finding over a wealth Declined in 2022 but not across the board finding Too is that most of the money lost was In richer countries North America and Europe lost a whopping $10.9 trillion Combined meanwhile China and the Asia Pacific area also saw a drop of about 3.5 trillion at the same time India and Africa made a bit of money and Latin America made a lot of money based on the

Report figures the region actually got Richer by $2.4 trillion which is a huge 8.6% increase because of the relatively Strong performance by weaker economies Overall global inequality fell as you Can see from this graph global Inequality has been broadly on a Downtrend since the start of the century The wealth's 5% and top 10% of the Planet are controlling relatively less Wealth than they did before however the Statistic Narrows when it comes to the Top 1% they also control less as a Proportion of the global wealth than They did in 2000s but only slightly in Any case finding two is a positive one Globally inequality has improved but the World is still staggeringly Unequal let's take North America and Europe for instance combined they have Just 16% of the world's adult population Yet they hold a whopping 56% of all Household wealth in the world also when You look at wealth distribution within Nations you'll see that inquality is in Fact growing I was trapped inside a cage A cage made out of The Daily Grind I was So unfulfilled I felt like a blank sheet Of A4 paper something was missing from My life but I didn't know what but then I found what I'd been missing the coin Bureau deals page was to answer to my Prayers it had everything I needed to Make me complain Exchange sign up

Bonuses of up to $50,000 the biggest discount on the best Hardware wallets trading fee discounts Of up to 60% on the best crypto Exchanges exclusive altcoin Alpha thank You coin Bureau for bringing me back to Life and that brings us to our next Finding here the author's turn to gingi Coefficient to determine wealth Distribution within countries the gingi Coefficient in case you ask this ever in A pub quiz was named after the Italian Statistic gajo Genie kajio also happened To be a fan of eugenics but the Lesser On that the better in any case the index He's named after ranges from 0% to 100% Where zero represents perfect inequality And 100 means complete inequality so Looking at wealth inequality this table In the report gives as a snapshot of how Things stand within 14 different markets In all of these countries wealth Inequality is pretty high and in some It's through the roof usually you'll see The top 1% holding on to about 30 to 35% Of all wealth and the top 10% having Between 60 and 65% if the genie value is around 70 That's on the lower side but anything Over 80 shows really high Inequality when we take the longer view From 2000 to 2020 it looks like Inequality within countries generally Went up in fact in 10 of the 14 markets

The ginger Co coefficient was lower in 2020 than it was in 2000 and in some Countries the inequality levels are Truly staggering take Brazil for Instance just 1% of Brazilians hold Nearly half of the country's wealth I Don't know about you but those images of Luxurious billers adjacent to flavas and S Paulo they spring to mind all right We'll get to the rich list in just a Second so you can see how you measure up But first we'll reveal what the report Says about wealth distribution across Ethnicities and genders unfortunately on This point the report only has data on The US so finding for relates Exclusively to there and nowhere else According to the 2019 survey on Consumer Finance the median wealth of African-Americans is only about 12.8% of what is owned by and I quote Non-h Hispanic Caucasians which must be the most Roundabout way of saying white I've ever Heard for Hispanics it's a little bit Better but still low at 19.2% now when it comes to income rather Than wealth the story is somewhat better But still staggering according to the Same Source African-Americans earn 58.4% and Hispanics 59% of what Non-hispanic caucasians in when it comes To gender we have to back to 2018 to get The latest figures from credit Swiss

That year the global wealth report Showed that in the wealthy oecd Countries women's wealth was typically Between 65 to 80% of men's wealth Unfortunately there is no data for non Oecd countries but given the fact that Employment opportunities are vastly Better for women in oecd countries you Can imagine the figure is significantly Lower outside the rich world Right on to finding five and this is Where you come in the report reveals Different wealth bands in the world and Shows us what percentage of the world is Included in each band if your net worth Is $10,000 or below you're among the 53% Of people in the lowest band if your net Worth exceeds this you're richer than Over half of all adults worldwide now if Your wealth is between $10,000 and $100,000 your m 1.8 billion people who Make up this band and if you have over 33,5 73 you're among the wealthiest in This band typically this band includes The middle classes in the developing Countries so what if you're above this Well if you have more than $100,000 to Your name but you haven't quite hit the Millionaires Club you're in what the Authors call the upper middle segment This group includes 642 million people together they own 39.4% of the global wealth which is over 3 times their share of the adult

Population this bracket typically Includes the middle class in developed Nations and finally if your wealth Exceeds $1 million congratulations You're a high net worth individual and In the top 1.1% of adults globally now If you're in the millionaires Club You're part of a group of nearly 60 Million people who hold 46% of global Wealth this number represents a Five-fold increase since 2000 due to a Combination of not only increased wealth But also inflation after all because of Inflation a million dollars today is not The same as a million dollars in 2000s In fact the authors know that 4.4 Million of the 60 million people in this Bracket are so-called fake millionaires These people they explain only became Millionaires because of the impact of Inflation fake millionaire or not this Is a very elite group and one that is Expanding rapidly in fact UBS estimates That there will be 86 million Millionaires in the world by 2027 now you might be wondering how many Of these millionaires got their wealth From crypto UBS doesn't go into the Details but a report by Henley and Partners earlier this year which we Covered in a previous video which I'll Link below does in hmps report the World's first crypto wealth report the Author state that there are

88,200 crypto millionaires worldwide With just under half holding their Fortune in Bitcoin it will be Interesting to see how these numbers Change over the next few years Particularly if we're back in a bull run In terms of wealth brackets the UBS Report goes one step further the authors Knowe that there are nearly 9,490 adults with wealth above $100 Million at the end of 2022 of which 7,020 are worth more than 500 million USD but from our perspective this data Only tells us part of the story it Doesn't account for relative wealth for Instance if you're watching this from a Very wealthy country you might be Thinking that $1 million isn't actually That high a threshold to be joining the 1% in fact if you're a property owner in A rich city like Hong Kong San Francisco Sydney and others you're effectively a Millionaire since the median house price Is over $1 Million so then the question becomes how Much money do you need to have to be in The top 1% in the country you live in Thankfully data from night Frank a Leading Global real estate consultancy Provides an answer as you can see from This graphic to join the 1% in Monaco You need to be worth an over eye Watering $12 million in Switzerland it's

About half of that figure while in New Zealand Australia and the US you'll need To have over $5 million to your name on The other end of the spectrum if you Have over $220,000 in Kenya or $60,000 In the Philippines you're in the top 1% Now that's the 1% but what about the Most elite of all what about the Billionaires for insight into this Select bracket we need to turn to visual Capitalist and their fantastic graphic According to their findings there are 3,311 billionaires worldwide and they Collectively have 11.8 trillion dollar In global wealth just 20 people have a Net worth of over $50 billion For context the world's economy is Around $15 Trillion unsurprisingly the largest Proportion of the Uber Rich live in North America with New York City hosting The largest number of billionaires in The world 130 billionaires live in NYC Just ahead of Hong Kong with 114 overall the number of billionaires In China is less than half of that of The US what's interesting here is that While the number of billionaires is Quite heavily concentrated in the US and China when it comes to all individuals With over $50 million to their name the Proportion shifts markedly in fact if You look at this graphic from the UBS Report you'll see the number of high net

Worth individuals in the US is over four Times that of China and ellipses any Other country this suggests that the Wealth among the Uber rich in China is More concentrated than in the US I'll Leave a link to the visual capitalist Findings in the description below in Case you want to dig into the details a Little bit more right so with all of This talk about the Uber Rich it's easy To feel inadequate and unsatisfied this Isn't helped by the ridiculous viral Content on social media but before you Get down on yourself remind yourself That money doesn't necessarily bring you Happiness that's not just some Idol Saying it's backed up by some pretty Rigorous research you might be familiar With the famous 2010 Stanford study by Dan kyman and Angus ston two Nobel Prize Winners They concluded that the amount You earn definitely increases your Happiness but only to a certain Threshold above that threshold after Your basic needs are well and truly met The impact of your wealth on happiness Diminishes to the point of Insignificance the figure in the 2010 Study is $75,000 and takes data from US citizens Adjusted for inflation the figure is About $15,500 today however Dan has since Revised his findings in light of other

Research on happiness together with two Academics from the University of Pennsylvania he concluded that for most People there is a correlation between Wealth and happiness but if you're Miserable more money won't solve your Problems your mood might improve as your Salary increases to $100,000 but Above This threshold it Likely won't make a blind bit of Difference we could go on and on about Wealth and happiness but maybe this is a Topic for another day if you're Interested in us covering this in the Future videos let us know in the Comments also tell us what you thought About the findings in this report did Those figures surprise you how does it Make make you feel about your own wealth We hope at least we help put some things Into context if you're craving some more Crypto content be sure to check out coin Buau on X Tik Tok and Instagram also be Sure to check out our recently launched Discord server there you'll be able to Interact with the team and find out what Coins and tokens we're all excited about And if you want some top Alpha insights Into our crypto Investments portfolios And much more besides be sure to join Coin Bureau Club oh and don't forget to Check out the coin Bureau deals page Where you'll find the best deals on Hardware wallets and crypto exchanges

Around including up to $50,000 in sign Up bonuses all right I'm Jessica thank You for watching and remember at coin Buau crypto videos aren't just what we Do it's Who We [Music] Are


Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.

Leave a Comment

    • bitcoinBitcoin (BTC) $ 67,098.00 5.52%
    • ethereumEthereum (ETH) $ 3,505.41 2.85%
    • tetherTether (USDT) $ 1.00 0.02%
    • bnbBNB (BNB) $ 594.39 4.61%
    • solanaSolana (SOL) $ 169.33 7.84%
    • staked-etherLido Staked Ether (STETH) $ 3,505.23 2.81%
    • usd-coinUSDC (USDC) $ 1.00 0%
    • xrpXRP (XRP) $ 0.576605 1.51%
    • the-open-networkToncoin (TON) $ 7.29 0.59%
    • dogecoinDogecoin (DOGE) $ 0.125057 5.92%