The super rich are less rich

Countermand comrades: the rich have not gotten richer. Indeed, in 2022 they took the loudest slap in the last ten years. According to the new edition of Capgemini’s Global Wealth Report, the number of billionaires fell by 3.3 percent from a year earlier, falling to 21.7 million. The value of their assets also decreased, losing 3.6 percent and settling at the still considerable figure of 83 trillion dollars. The phenomenon is particularly pronounced in North America, where scrooge wealth has lost 7.4 percent of its value, compared to 3.2 percent in Europe, 2.7 percent in Asia-Pacific. Conversely, in Africa, Latin America and the Middle East, the properties of the luckier ones appreciated, mainly due to the increase in energy prices. Now, these data must obviously be handled with care. First, they are the result of an opinion poll, albeit with a sizeable sample (3,171 billionaires in 23 countries). Second, increases and decreases in the value of financial wealth remain virtual until the assets are sold, so they may not be realized. Nonetheless, this study provides interesting insights and allows for a more accurate look at the rich and their habits. One of the elements that emerge from the survey is that they are very sensitive to ESG criteria (ie the environmental, social and governance impact of their investments): 41 percent make it a priority investment criterion and 63 percent are interested in this information anyway. But not everyone is satisfied with the quality of the information: 40 percent of fund managers would like more reliable data both to fully understand the effects of their choices and to engage customers better. In short, contrary to much rhetoric, the rich are concerned about the environment and, even if they don’t cry, they have little to laugh about this year.