In the space of 12 months, about £1.2tn has been wiped off the value of household wealth in the UK, as sterling dropped against the dollar.
The UK has lost about 15 per cent of its millionaire as the country’s decision to leave the EU rattled the pound and the stock market.
UK household wealth has plummeted by a combined $1.5 trillion (£1.2tn) in the space of 12 months, according to the Global Wealth report by Credit Suisse - one of the biggest drops in wealth among the major economies.
|Only Mexico, Egypt, Russia, Ukraine and Argentina suffered from larger percentage drops in household wealth than the UK Stockbyte/Getty Creative
This contributed to more than 400,000 Britons losing their status as dollar millionaires.
Only Mexico, Egypt, Russia, Ukraine and Argentina suffered from larger percentage drops in household wealth than the UK since last year.
Overall, global wealth across the world increased by $3.5tn to $265tn, the survey revealed.
Japan was the main winner with its total household wealth increasing 19 per cent to $24tn mainly due to the value of the yen rising against the dollar. Wealth in the US climbed to $85tn.
This marked the eight straight year of increase for the world’s largest economy.