1 million people became millionaires last year globally, according to finance report

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The global figure of millionaires increased by 8% last year to an unprecedented high of approximately 17 million people, with a record total wealth of USD $64 trillion, according to reports. HNWIs (high net worth individuals) are defined as anyone with investable assets totaling USD $1 million or more, excluding the primary place of habitation. The source of collectibles and consumables also rose by 8% this year after 2016 and is projected to exceed $100 trillion by 2025.

Over 1 million people made millionaire status last year, the report said. The US, Germany, Japan, and China claim the highest numbers; together accounting for over 2/3rds of the total.