Coronavirus Pandemic Strips 154 Israelis Of Millionaire Status

This article was first published by The Times of Israel and is re-posted with permission.

The coronavirus pandemic has ousted 154 people from the ranks of Israeli millionaires, the Credit Suisse Global Wealth Report 2020 shows, with the nation counting 157,286 such persons, as of June 2020, compared to 157,440 millionaires in Israel at the start of the year.

Israel is ranked 30th globally for its number of millionaires. It also has 10 billionaires, unchanged from 2019, compared to 358 in the US, 142 in China, and 66 in Germany, the three nations with the most billionaires.

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Wealth growth globally will be depressed for the next couple of years, and likely longer, as the coronavirus pandemic has cut economic growth and increased national debt, the report said.

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