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Brexit was pretty bad for the UK's household wealth

Posted: 2:48 PM, Nov 27, 2016
Updated: 2016-11-27 14:48:58-05

The United Kingdom's economy is doing  better than expected  after the Brexit vote. But the same can't be said for its wealth.

Since the EU referendum, the U.K. has lost more wealth than any other country in the past year. Total household wealth fell by  $1.5 trillion  thanks to a weakening pound compared to the dollar.

In terms of U.S. dollars, that sudden drop in household wealth means that over 400,000 people in the U.K. aren't millionaires anymore.

There is some good news, though. The U.K. still  ranks sixth  in the world when it comes to average wealth per adult.

The Brexit findings come from  2016's Global Wealth Report . The country that saw the largest increase in wealth was Japan, with a $3.9 trillion rise.


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