China holds almost one-fourth of the world's total wealth. A report by McKinsey & Co showed that China overtook the U.S. to become the world's richest economy.
Global wealth tripled over the last two decades to $514 trillion in 2020, from $156 trillion in 2000. China accounted for almost one-third of this increase. Its wealth skyrocketed to $120 trillion from a mere $7 trillion in 2000. The U.S. saw a double-fold rise in its net worth to $90 trillion.
In both countries, more than two-thirds of the wealth is held by the richest 10% of households.
As computed by McKinsey, 68% of global net worth is stored in real estate.