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PARIS, France - The world has never had so many rich people and their investments in soaring stock markets have made them wealthier than ever recorded, according to a study published on Wednesday.The number of "high net worth individuals" -- defined as people with liquid assets of at least $1 million -- rose by 5.1 percent last year to 22.8 million, according to consulting firm Capgemini.Their total wealth reached $86.8 trillion in 2023, a 4.
The Paris CAC 40 grew 16 percent while the Frankfurt DAX advanced by 20 percent.The number of HNWI and their wealth had each fallen by more than three percent in 2022, a year of macroeconomic uncertainty and geopolitical tensions, the report said.The decline in their wealth was the steepest in a decade as equities fell."However, 2023 brought economic growth and improved fortunes for major investment sectors to reverse the falloff," the report said.
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