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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

(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.

Maybe it's not all about the Benajmins.
Maybe it's not all about the Benajmins.   (Getty Images)
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COMMENTS
Showing 3 of 26 comments
ladyrosedeky
Jun 20, 2012 4:46 AM CDT
All I've got to say is, if I had multimillions of dollars, like Romney's money that he doesn't keep in this country, not only would my money not be in this country I wouldn't be either. Not to sound unpatriotic but my money and I would be long gone somewhere on a nice warm sunny beach somewhere far away from the shores of America.
AmericanEmpire
Jun 20, 2012 1:39 AM CDT
considering that the ratio of asians to north americans is roughly 10 to 1...not exactly impressive.
walrus007
Jun 19, 2012 4:44 PM CDT
This article had me jumping to conclusions for a minute so I did a little checking.  The Reuters article referenced as the source actually says there are 562,000 millionaires in china.  The USA has well over 3,000,000.  6 times as many with 1/12 the population.  Asia is a massive continent with 4,200,000,000 inhabitants so this is a pointless statistic that actually demonstrates how far behind they are. The chances of becoming wealthy in N. America are light years apart from Asia.  So don't sweat it, this statistic means nothing to us N. Americans.  Well, it means we have a few more potential clients I guess.
 

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