Kuwait’s wealth reaches $405 bn in mid-2019 and has 63,000 millionaires



Kuwait’s wealth reached $405 billion in mid-2019, up $60 billion from $390 billion in the middle of last year, up more than 15 percent a year, according to the latest report by Swiss research firm Credit Suisse.The report added the average per capita wealth of Kuwait reached 131.1 thousand dollars by the middle of this year, and the per capita GDP of 45 thousand dollars.

According to the report, a Kuwaiti citizen is considered the second richest among the GCC citizens in terms of the average per capita wealth, while the Qatari is ranked first with an average of 147.7 thousand dollars, followed by the Emirati with an average of 117 thousand dollars and the Saudi citizen an average of 67 thousand dollars.

The report estimated there are 63,000 millionaires whose wealth is distributed as follows: 59.2 thousand Kuwaitis whose wealth is between 1 and 5 million; 2,747 Kuwaitis whose wealth is between 5 and 10 million; 1,111 Kuwaitis whose wealth is between 10 and 50 million dollars; 52 Kuwaitis whose wealth is between 50 and 100 million and 21 Kuwaitis whose wealth is between 100 and 500 million.-A.T.