The number of Norwegian dollar millionaires has tripled over the past ten years,and the rich are getting richer, shows the World Wealth Report 2018.
At the turn of the year there were 169,000 dollar millionaires in Norway.On average, these people are worth 22 million kroner each each, the report said as a yearly estimate of global wealth.
In reality, the dollar billionaires are even richer, because the figures are based on people who have a fortune worth over one million dollars in investing assets.The value of, for example, housing is not included.
“The Norwegian dollar millionaires have a total of $ 454.8 billion, or NOK 3.7 billion,” said Johan Bergström, financial analyst at Capgemini consulting company, in a press release.
It is the 22nd consecutive year the World Wealth Report has been presented.
It shows, among other things, that in the last ten years, the number of Norwegian dollar billionaires has tripled, and since 2016 the number has increased by 10%.
Norway has more dollar billionaires per capita than countries like Sweden, Austria,
Argentina and Mexico.
The consulting company which presents the report believes that the Norwegian oil
festival will continue. They also expect a sharp growth in the Norwegian economy in 2019 due to higher oil investments and falling unemployment.
The number of dollar billionaires increased worldwide, and they have never had more money. $70 billion is the staggering sum of wealth in 2017, an increase of more than 10% from the year before.
With so much wealth,Capgemini expects asset management to become an
increasingly attractive industry, and that banks and financial institutions may be challenged.
“Technology companies like Google, Facebook, Amazon and Alibaba receive data that enables them to offer better and cheaper solutions than traditional asset managers.Companies that we currently know best as online stores, search engines or social networks will probably develop business models that can contribute to the growth of wealth,” said Bergström.
© NTB scanpix / #Norway Today