Be the most informed person in the room with Newsy's free e-newsletter

View our privacy policy: http://www.newsy.com/privacy/
Pixabay

Brexit Was Pretty Bad For The UK's Household Wealth

U.K. households lost a total of $1.5 trillion this past year because of Brexit.

By Ethan Weston | November 27, 2016

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.

SEE MORE: The Geopolitics Of The #Brexit

Article Continues Below

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.

Want to see more stories like this?
Like Newsy on Facebook for More Europe Coverage