The report identified the median individuals wealth in the US at $49,800 (£32.700) whilst the average UK net worth was £83,000.

After sharp swings in currency markets overall global wealth has for the first time since the global financial crisis dropped.

Overall global wealth decreased by $12.4 trillion to $250.1 trillion, pushed down by the strength of the U.S. dollar weighing on the overall global wealth picture, as when valued in U.S. dollars, net worth fell in all regions apart from China and North America.

Whilst the overall amount of capital has gone down wealth inequality has widened, with the top 1 percent of the worlds wealthiest individuals now in possession of half of all household assets in the world, according to the annual Credit Suisse global wealth report.

The report noted “wealth inequality changes slowly over time, so it is difficult to identify the drivers of these trends. However, the value of financial assets – especially company securities – is likely to be an important factor because wealthier individuals hold a disproportionate share of their assets in financial form.”

“The rise of 146 percent (in millionaires) since 2000 reflects population growth and the fact that inflation progressively lowers the bar for membership of the millionaire club. Nevertheless, the number of millionaires has still grown significantly after discounting for these factors,” the report said.

Total wealth since 2000 has doubled, also rising by 5 times in China with many seeing an increase in wealth from the recent stock market boom. China gained a significant $1.5 trillion and the U.K. also saw a $360 billion increase whilst no other country gained more than $100 billion over the period.

Some of the bigger fallers included Germany, Fance Italy and Spain which saw wealth valuations being hit by a weaker euro. Australia and Canada also lost more than $1.5 trillion combined and wealth fell significantly in Japan by $3.5 trillion.

The decline is the first time global household wealth has fallen since the financial crisis of in 2008 however when removing changes in exchange rates net worth has growth each year this century apart from during the crisis the report showed.