North America No Longer Home to Most Millionaires

The honor now goes to Asia
By Kate Seamons,  Newser Staff
Posted Jun 19, 2012 11:07 AM CDT
Maybe it's not all about the Benajmins.   (Getty Images)

(Newser) – North America may have retaken one crown from Asia yesterday, but it was forced to relinquish another today: The latter is now officially home to the most millionaires in the world, according to a new report by Capgemini. Its 3.37 million millionaires, a boost of 1.6% over 2010, now outnumber North America's 3.35 million, down 1.1%. The report considers a millionaire to be someone with at least $1 million to invest, and doesn't factor in an individual's home or collectibles, among other assets, reports Reuters.

Other interesting tidbits:

  • Though the number of millionaires worldwide jumped 0.8% to 11 million, their total wealth dropped 1.7% to $42 trillion thanks to the eurozone mess and overall dour economic state of affairs.
  • The only region that didn't see a dip in wealth? The Middle East.
  • The countries that lost the most millionaires? India, down 18%, and Hong Kong, down 17.4%.
  • The big surprise? Europe's millionaire ranks grew, up 1.1% to 3.2 million.

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