The Wills, Trusts & Estates Prof Blog cites a report cliaming that the number of millionaires continues to grow:
Despite what some people deem a time of economic downturn, it appears that more individuals then ever are being financially successful. Here are some of the key findings from a report issued by Merrill Lynch and the Capgemini Group:For more information, see Candice Choi, World now has 10 million millionaires, report says, CNN.com, June 24, 2008
- Over 10 million people are millionaires, the highest number in history.
- Overall combined wealth of the millionaires increased by 9% from the previous year.
- Average wealth, not including homes, exceeded $4 million.
- The countries with the highest rate of growth include India, China, and Brazil.
- The United States still has the highest number of millionaires (one-third of millionaires live in the United States)
- The number of superrich ($30 million or more) also increased by 9%.