Do you know how much money there is?

If you added up all the money in the world — from dimes and dollars to stocks — how much would there actually be? The question isn’t as simple as it may initially appear. To begin answering it, we must first decide how to define “money.” Are we talking physical cash? Bank reserves? Mutual funds? What if we take all those things into account? Let’s attempt to break down just how much money — and wealth — exists worldwide.

Money, money, money…

Economists estimate only 8% of the world’s money exists as physical cash. This leaves us with a whole slew of other intangible forms of funds to consider. The global economy contains three main categories of money, known as monetary aggregates: M0, M1, and M2. They vary based on liquidity — how easily and quickly it can be converted into cash — with M0 being the most liquid. This category includes physical cash (paper money and coins) and bank reserves.

M1, also called “narrow money,” includes all of M0 plus demand deposits, traveler’s checks, and other checkable deposits — think of this category as cash you can use quickly, even if it’s not physical. M2, or “broad money,” encompasses the previous two categories plus less liquid forms of money, such as savings deposits, money market securities, mutual funds, and other time deposits. It’s not as accessible as M1, but it still qualifies as money because it can be turned into cash eventually.

How much cash is there?

Let’s start with the most basic category of money: M0, the physical cash in the wallets of people around the globe. It isn’t easy to nail down the worldwide M0 supply due to constantly fluctuating totals and exchange rates, but according to a 2022 report from Visual Capitalist, there’s roughly $8 trillion(USD) cash in circulation around the globe. As for the total amount of cash circulating in the U.S. alone, the Federal Reserve estimates it at $2.3 trillion as of October 2024.

To put into perspective how relatively small these numbers are, the total wealth (as in net worth, not just cash on hand) of New York City residents alone is around $3 trillion — more than the amount of cash in the entire country. This wealth exists primarily in other forms of money and assets, which we’ll delve into next.

Narrow and Broad money

Now that we’ve quantified the relatively small amount of physical cash that exists globally, let’s move on to more significant monetary amounts. As previously mentioned, M1 includes all of M0 plus checking deposits and other liquid financial assets. Visual Capitalist’s 2022 estimate puts the global total for M1 at a whopping $28.6 trillion. Meanwhile, the U.S. M1 supply was estimated at around $18.2 trillion in October 2024 by the Federal Reserve.

Unsurprisingly, the category with the widest scope, M2 or “broad money,” also contains the highest amount of money. It includes M0 and M1 plus savings deposits, mutual funds, and other less liquid assets. In 2022, Visual Capitalist estimated a total M2 value of $82.6 trillion worldwide. According to the October 2024 Federal Reserve report, the M2 value of the U.S. was roughly $21.3 trillion.

Does crypto count?

But wait — what about cryptocurrencies? Technically, digital currencies such as Bitcoin and Ethereum aren’t officially recognized as money by central banks, so they aren’t included in M1 or M2 measurements. However, some experts argue that cryptocurrencies could eventually impact those numbers. As of 2024, the global cryptocurrency market cap was around $3.5 trillion, with Bitcoin leading the charge at $1.9 trillion. These values are significant, and if they continue to rise, crypto could reshape the definition of “money” in the future.

How much wealth is there?

Money isn’t the same as wealth, but they do go hand in hand. As of September 2024, the global Gross Domestic Product (GDP) — the value of all goods and services — amounted to nearly $110 trillion. This differs from “money” because it measures economic activity, not just cash or monetary assets, but it’s still an important measure of wealth. The 2024 U.S. GDP alone was $24 trillion, making it the largest economy in the world.

It’s when we examine private wealth (of individuals and private entities) that we enter the big leagues. According to Visual Capitalist, the total net global private wealth — cash, stocks, bonds, real estate, and business ownership — stood at around$454.4 trillion at the end of 2022. That value is expected to soar to an astonishing $629 trillion by 2027.

Speaking of wealth, let’s not forget about gold. Though it’s no longer tied to the value of currencies (and hasn’t been since Switzerland ended its gold-backed currency in 1999), it’s still a large element of the global wealth equation. As of 2024, the world’s total gold supply is valued at about $17.7 trillion.

The total global debt

Of course, debt is another major player in the worldwide economy. By most estimates, the total debt incurred globally by governments, corporations, and households was around$300 trillion as of 2022. So the world contains an unimaginably large amount of wealth anddebt, which paints a nuanced portrait of the global economy’s multifaceted landscape.