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Wealthy Russians get richer faster than the world average
Over the past 20 years, the volume of personal finances of the wealthiest Russians has grown in 16 res. This is higher than the global average, but a pandemic may slow this process down.
According to RIA News, The Global Private Equity Industry 2020: The Future of Private Equity Management - CEO Agenda study, conducted by The Boston Consulting Group (BCG). In their analysis, experts evaluated the periods from 1999 to the future until 2040.
According to the results of the study, in Russia over the past 20 years, the volume of personal finances of wealthy people has increased 16 times. And if in 1999 this amount was $ 0,1 trillion, then by 2020 it will be $ 1,6 trillion. At the same time, the maximum growth was observed until 2014 - 14% per year. The global average annual growth is 5%, and in Eastern Europe - 10%. After 2014, the growth rate slowed down and amounted to 10,4% per year against the world average of 9,6%.
According to experts, the situation with coronavirus can slow down the growth of personal assets of wealthy citizens by 6,5% or 4% per year. The volume of fortunes, according to BCG estimates, could be 2,2 or 2 trillion dollars. If the pandemic situation drags on, then in the worst case, the amount will be $ 1,9 trillion.
The richest Russians with assets of more than $ 100 million make up about 40% of all private capital. By 2024, the proportion of such people will drop to 38%. At the same time, incomes in this segment will grow the most - by 5,2% per year. The segment of the richest people in Russia accumulates about four times more funds than the world average.
About 80% of these funds are deposited and in foreign currency savings. At the same time, on average in the world, rich people invest about 60% of the total amount of private funds. According to the authors of the study, private conditions are very resistant to external shocks and continue to grow even after serious crises.