Paul L. Caron

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.


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.

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