UBS says assets dipped for first time since financial crisis as high inflation and struggling currencies took toll
More than 3.5 million people lost their “dollar millionaire” status last year during the first fall in global wealth since the 2008 financial crisis.
The number of adults with assets of more than $1m (£790,000) fell from 62.9 million at the end of 2021 to 59.4 million at the end of 2022, according to the UBS annual wealth report, published on Tuesday. The Swiss bank said global wealth was depressed by high inflation and the collapse of many currencies against the dollar.
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