The number of high-net worth individuals (HNWIs) — that is, those with assets worth more than US$1m (£750,000) excluding their primary residence — jumped by 7.5% last year to a new record of 16.5 million people, as outlined in a new report.
The annual Capgemini Wealth Report noted that Russia had recorded the highest growth, up 19.7% to 182,000 people, making it number 15 in the world, with Brazil showing double-digit increases in both population and wealth, following a significant decline in 2015.
As well as a boost in the number of wealthy individuals in the world, the amount they own is also up significantly, by 8.2% compared to 4% in 2015.
The total wealth owned by this group now stands at $63.5trn, and Capgemini forecasts this figure to exceed $100trn by 2025.
The US, unsurprisingly, has the highest number of HNWIs, with more more than 4.8 million.