There are 88,231 millionaires currently living in Israel, most of whom have a net worth of between $1-5 million, according to the 2015 Global Wealth Report, published by Swiss investment bank Credit Suisse on Tuesday. Seventeen of these are billionaires.
According to the report, about 124,000 members of the world\’s top percentile come from Israel.
Meanwhile, the Israeli middle class comprises 42 percent of the general adult population in the country, and holds 40.2 percent of the wealth.
Overall, wealth declined in Israel by 7.6 percent in the past year, with the decline mostly being due to the fluctuating exchange rate between the dollar and the Israeli shekel, with the former gaining value.
Global wealth has declined by about $12.4 trillion in the past year. The United States increased its wealth by $4.6 trillion, continuing a seven-year positive streak since the end of the 2008 financial crisis. China also appears to be growing steadily by an annual rate of $1.5 trillion.
In other places around the world, added wealth in local currency terms were undercut by these currencies\’ weakness compared to the dollar, and thus overall global wealth went down.
The percentage of wealth comprised of financial assets, which are usually held by wealthier individuals, rose in the past year. This might help explain the rise in inequality.