Paul L. Caron
Dean


Tuesday, March 17, 2020

U.S. Surges Ahead As World’s Top Hotspot For The Fabulously Rich

Bloomberg, U.S. Surges Ahead as World’s Top Hotspot for the Fabulously Rich:

The U.S. is home to even more of the super-rich.

The country created the most individuals last year -- 13,443 -- with fortunes of $30 million or more, according to Knight Frank’s 2020 Wealth Report. China was second with 7,892 new ultra-high-net-worth individuals, while Japan was a distant third.

Bloomberg

The survey highlights increasing wealth across the U.S. and China even as trade tensions escalated between the nations last year, sparking fears of a global recession before an initial agreement was reached in December. Some of those gains disappeared during last week’s coronavirus-fueled rout of equity markets, when the combined fortunes of world’s 500 richest people dropping $444 billion over five tumultuous trading days.

https://taxprof.typepad.com/taxprof_blog/2020/03/us-surges-ahead-as-worlds-top-hotspot-for-the-fabulously-rich.html

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