German millionaires fell by 20,000 in a year

International Business News  –  The number of millionaires in Germany fell last year, dropping by nearly 20,000 to 1.61 million from 2021 to 2022, according to the World Wealth report released by France-based consultancy Capgemini, Deutschland Press TV reported on the 3rd. Their total assets also fell 2.2 percent to just over $6.1 trillion. Despite the decline, Germany can still rank third in the list of countries and regions with the most millionaires.

The United States retained the top spot with 6.92 million millionaires in 2022, compared with 7.46 million the year before, the report said. Japan, which ranked second, had 3.55 million last year, up from 3.65 million the year before.

Overall, the number of millionaires worldwide fell 3.3 percent last year. Wealth included in the report includes stocks, cash and real estate. Capgemini said it was the biggest decline in more than a decade “due to geopolitical and macroeconomic uncertainty”.

However, the number of millionaires and their wealth increased in some regions. Last year, there were more millionaires in the Middle East, Africa and South America. Countries in these regions have benefited from strong growth in the oil and gas sector, according to the analysis.