Highlights

  • China's net worth at $120 trillion vs the U.S. at $90 trillion
  • Global wealth stood at $514 trillion
  • Two-thirds of the wealth is held by the richest 10%

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China overtakes U.S. to become world's richest country: Report

More than 68% of global net worth is stored in real estate

China overtakes U.S. to become world's richest country: Report

China holds almost one-fourth of the world's total wealth. A report by McKinsey & Co showed that China overtook the U.S. to become the world's richest economy.

Global wealth tripled over the last two decades to $514 trillion in 2020, from $156 trillion in 2000. China accounted for almost one-third of this increase. Its wealth skyrocketed to $120 trillion from a mere $7 trillion in 2000. The U.S. saw a double-fold rise in its net worth to $90 trillion.

In both countries, more than two-thirds of the wealth is held by the richest 10% of households.

As computed by McKinsey, 68% of global net worth is stored in real estate.

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