Comment on Crashing markets thinned the ranks of America's millionaires last year as global wealth shrank for the first time since 2008

Crashing markets thinned the ranks of America's millionaires last year as global wealth shrank for the first time since 2008

Private yachts docked in front of a yacht club.Marielle Descalsota/Insider Global wealth declined in 2022 for the first time since 2008, UBS and Credit Suisse economists said Tuesday. Americans were hit hardest as stocks and bonds tumbled throughout the year, the banks said. Roughly 1.7 million US adults lost their status as millionaires.

 

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