Less millionaires in Portugal

 In News

There are less millionaires in Portugal according to the Credit Suisse’s Global Wealth Report.

Of the 99,000 millionaires registered in 2017 there are 94 million in 2018, although the amount of money they possess has risen to nearly US$1Bn (€872 million).

In 2017 the Swiss bank’s report recorded that 68,000 Portuguese were worth over $1 million (€867,000). This year, the Global Wealth Report reviewed its data and pointed to a total of 99,000 millionaires last year, a number that shrank by 5,000 in 2018.

Wealth per adult in Portugal was reviewed in the middle of 2017 leading to an increase in the number of millionaires from 68,000 to 99,000. This year there was a reduction in the number of millionaires to 94,000.

Despite a fall in the number of millionaires, the aggregated fortunes of these has increased. While last year Portuguese with more than a million dollars had a total wealth of US$854 million, this year the amount went to $916 million (US€794 million).

While these 94,000 Portuguese have a fortune worth millions, the average fortune of Portuguese is less but has grown.

If last year it stood at US$101,000, this year it climbed to US$109,000. The average wealth per adult, neither considering the richest or poorest, was $31,313 per adult.