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Sweden bucks the trend – fewer dollar millionaires

Fewer in Sweden but more in the world, the number of dollar millionaires is increasing again. And the very richest at the top now control 34 per cent of the world's wealth.

Published: 12 June 2024
Sweden bucks the trend – fewer dollar millionaires
Photo: Michel Euler/AP/TT

Fewer in Sweden but more in the world, the number of dollar millionaires is increasing again. And the richest at the top now control 34 per cent of the world's wealth.

After having had a small dip during the pandemic, the number of dollar millionaires in the world is on the rise again, according to the World Wealth Report from Capgemini.

But Sweden is not following the trend, here the number of dollar millionaires decreased in 2023. The decline is modest, 0.6 per cent, but goes against the trend of how it looks for other super-rich in large parts of the world and the Nordic countries. In Denmark, for example, the number of dollar millionaires increased by 4.3 per cent last year. In Norway, the figure was 3.3 per cent.

Even when it comes to wealth value, the Swedes have to stand with their hands in their pockets compared to other super-rich. The 154,000 Swedish dollar millionaires saw their collective wealth of approximately 374.4 billion dollars decrease by 0.5 per cent last year.

The main reason is written off, just like for those who are not super-rich, interest costs and inflation.

Some who had a better 2023 were the very richest in the super-rich elite. They make up only about one per cent of the other super-rich, but according to Capgemini's report, the ultra-rich control 34 per cent of the world's wealth.

In total, the world's 22.8 million dollar millionaires control a combined wealth of 86,800 billion dollars, equivalent to 868,000 billion kronor.

For comparison, Sweden's GDP in 2023 was equivalent to approximately 6,000 billion kronor.

Who is the world's richest person depends on how ownership and wealth are formulated, but generally, the following five are the richest in the world – with shifts depending on, among other things, stock market fluctuations.

1. Elon Musk, owns, among other things, Tesla, X and SpaceX. Total wealth of approximately 206 billion dollars.

2. Jeff Bezos, owns Amazon. Total wealth of approximately 204 billion dollars.

3. The Arnault family. Owns the luxury brand family LVMH (Louis Vuitton, Moët, Hennessy). Total wealth of approximately 200 billion dollars.

4. Mark Zuckerberg. Meta's founder. Total wealth of approximately 178 billion dollars.

5. Larry Page. Founder of Google. Total wealth of approximately 150 billion dollars.

Source: Forbes, Bloomberg

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By TTThis article has been altered and translated by Sweden Herald

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