Wednesday, 25 June 2008

The world's millionaires' club is growing, survey finds

If you take a run at the idea that there is a future for a newspaper catering to the very rich, which isn't a business newspaper, because, well, they have other people to trawl through the data; and if you then take the idea of luxury hotspots and a growing class of the super rich, you begin to get into interesting territory.

I put up a link to this article just to remind myself.

NEW YORK: The world's millionaires club is getting bigger - and its members decidedly richer.
The number of people around the globe with at least $1 million in assets swelled by 6 percent last year to 10.1 million, according to the 12th annual World Wealth Report released Tuesday by Merrill Lynch and Capgemini Group, a consulting firm.
That means an additional 600,000 people became millionaires or richer even as problems tied to the U.S. credit crisis spread in the second half of the year.
The combined wealth of the millionaires' club meanwhile grew 9.4 percent to $40.7 trillion. Their average wealth, which didn't include primary homes, surpassed $4 million for the first time.
The super rich - those with at least $30 million - grew by 8.8 percent in population while their accumulated wealth grew by 14.5 percent. This rarefied group controls about a third of the $40.7 trillion.

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