|Boom Times for North American Millionaires|
Noel Brinkerhoff - AllGov
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July 12, 2010
Wealth accumulation among the richest North Americans (excluding Mexico) grew in 2009, with millionaires in the U.S. and Canada enjoying a 15% increase in their total worth. Collectively, these millionaires possessed $4.6 trillion, according to a report from the Boston Consulting Group.
The analysis found there were 11 million millionaires worldwide last year (or less than 1% of all households) who owned 38% of the world’s wealth (or $111 trillion). In 2008, they controlled only 36%.
It is estimated that 4.7 million millionaires live in the U.S., representing 4% of the nation’s population. The U.S. has more millionaires than any other country in the world, followed by Japan, China, the United Kingdom and Germany.
The report also noted that women control 27% of the world’s wealth.
Wealthy Reap Rewards While Those Who Work Lose (by Adrianne Appel, Inter Press Service)
Regaining Lost Ground: Resurgent Markets and New Opportunities (Boston Consulting Group) (pdf)
Millionaires on the Rise Again (by Noel Brinkerhoff, AllGov