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Global Wealth Falls for the First Time Since 2008 Crisis  

The world’s wealth total has shrunk on a year-over-year basis for the first time since the 2008 financial crisis, according to an annual report by UBS. So reports Fortune.

arrow 24112 640 smallAccording to UBS, wealth worldwide fell 2.4% in 2022 to $11.3 trillion. The country losing the most wealth was the United States, with a $5.9 trillion decline—also its biggest drop since 2008.

“Stock market losses in 2022 often reversed—at least in part—the gains made a year earlier,” the UBS report states.

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