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 & Co. 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
For such an elite club, 10.1 million may seem like a lot of members. But the figure represents just 0.15 percent of the world's population of 6.7 billion.
When taking into account inflation and the expansion of the world economy, the growth in the number of people with at least $1 million is not surprising, said Brian Bethune, an economist with Global Insight. An increase of around 15 percent to 20 percent would mark an unexpected jump, he said.
Note: Assets exclude collectibles, consumables, consumer durables and primary residences.