Wealth Report 2020: How many millionaires live in the country, and...

Wealth Report 2020: How many millionaires live in the country, and...
Wealth Report 2020: How many millionaires live in the country, and...

There are about 157,290 millionaires living in Israel, whose net worth (assets including real estate less debt) is higher than $ 1 million, according to the wealth report for 2020 of the research department of the Swiss bank Credit Suisse.

The number of millionaires in Israel remained stable despite the declines in the markets during the first wave of the Corona crisis. By comparison, at the beginning of the year there were 157,440 millionaires in Israel, which is only 0.1% more. According to the report, the average millionaire in Israel holds net assets of $ 3.33 million. In terms of the number of millionaires living in it, Israel is ranked 30th in the world.

The average wealth of every resident in Israel is (as of the end of June 2020) $ 220,996. Israel, according to the Credit Suisse study, is in 20th place on the list of the average adult wealth in the world.

The number of billionaires living in Israel is 10 – compared to 11 billionaires in Brazil, 10 in Thailand and 9 in South Korea. The wealth report does not mention the names of the billions, but according to the Forbes rating, they are Eyal Ofer, Steph Wertheimer, Teddy Sagi, Yuri Milner, Shaul Shani, Idan Ofer, Sheri Arison, Arnon Milchen, Yitzhak Tshuva and Gil Shweid.

Israeli billionaires were hit relatively hard by the corona crisis: The ten Israeli billionaires included in the Swiss bank Credit Suisse’s wealth report lost (on paper) last June alone as a result of the corona plague and its effects on financial markets – $ 2.7 billion of their total wealth. This, while billionaires in most of the world actually recorded an increase in the volume of their wealth in that month of about 2.8 billion on average on their wealth.

The corona crisis? The billions are getting richer

At the height of the crisis (March 18), the capital of Israeli billionaires plummeted to 68% of the capital they had a month earlier, on the eve of the crisis. What is striking is precisely the variability in the changes between the various billionaires in the world: some of the richest billionaires increased their wealth even more than 50% during the Corona period (between March 18 and June 30, 2020). According to Forbes magazine, Amazon CEO Jeff Bezos increased his fortune from $ 113 billion to $ 165 billion during the Corona Crisis. In contrast, Mark Zuckerberg’s wealth from rose from $ 55 billion during the Corona period. To $ 84 billion, which contributes to an average 21% increase among the world’s top 1,000 billionaires.

In the list of the 20 countries with the most billionaires in the world, the United States is in first place with 358 billionaires with a total capital of $ 83.1 billion per person (as of June 30, 2020). Germany, Russia and Hong Kong close the top five on the list of billionaires, followed by India with 39 billionaires worth an average of $ 88.8 billion per person, while Japan ranks 12th with $ 15 billion worth $ 101 billion in total assets. The surprise is provided by South Korea in 20th place and has only 9 billionaires, but the total value reaches 109.2 on average, which exceeds that of the United States and also of China.

The number of millionaires in the world decreased in the first half of 2020 compared to the corresponding half last year, if only slightly, due to the decline in assets as a result of the corona crisis. This is a decrease of 56,000 millionaires and the number of millionaires currently stands at 51.88 million people.

But according to the Credit Suisse report, if you compare the number of millionaires in the world to the end of the previous year (2019) to the middle of the current year (June 2020) the number of millionaires in the world increased in the first half of the year (2020) by very little, by 5,632 million: People around the world have joined the Millionaires Club. The largest increase in the number of millionaires was in the United States (2,193) and China (916). The number of millionaires in Canada increased by 234 and in Japan increased by 187. In contrast, there are several places in the world where the number of millionaires decreased: Brazil and Mexico dropped 35 and 39. Millionaires (respectively). And so in South Africa the number dropped by 12 and in Chile 9.

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