The Millionaire Club Keeps Growing

According to a report by Merrill Lynch and consulting firm Capgemini Group, the number of people around the world with at least $1 million in assets passed 10 million for the first time last year. The combined wealth of this planet’s millionaires grew to an estimated $41 trillion, making the average wealth a little more than $4 million, the highest it’s ever been. The United States still reigns supreme when it comes to the number of millionaires. One out of every three lives here.

However, the developing countries are minting new millionaires at a faster pace. For example, the number of millionaires in India grew at just under 23% according to the report. One thing to keep in mind: while 10 million might sound like a large number, it only represents less than one-fifth of one percent of the world’s 6.7 billion people. So if you’re in the club, congratulations. You’ve accomplished something very few of the earth’s inhabitants have…wealth.

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