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MONDAY, NOVEMBER 23, 2009
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Credit Crisis Snips Ranks of Super Rich

Millionnaires' club gets smaller as investments plummet in value

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(Newser) – Won't somebody think of the poor millionaires? The global financial crisis has hit the world's "super rich" hard and left many of them merely extremely wealthy, the Financial Times reports. The number of "ultra high net worth individuals" with over $30 million to invest shrank by nearly a quarter last year, and the group's collective wealth shriveled by a similar amount, according to the latest World Wealth Report.

The number of high net worth individuals shrank by a fifth last year.
The number of high net worth individuals shrank by a fifth last year.   (Getty Images)
The financial crisis has wiped out years of gains among the world's poor super rich.
The financial crisis has wiped out years of gains among the world's poor super rich.   (Shutter Stock)
Stock market falls erased much of the wealth of the world's mega-rich last year.
Stock market falls erased much of the wealth of the world's mega-rich last year.   (AP Photo/Eugene Hoshiko)
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3 comments
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anchower
Jun 25, 09 2:24 PM CDT
Poor bastards. Reply
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SPH
Jun 25, 09 5:22 PM CDT
Perhaps a community garage sale or a benefit concert is in order...... Reply
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radnip
Jun 26, 09 11:21 PM CDT
There's no way they can live on a mere $20 mil or less. Yep, time to ask for government handouts. They ought to come to California. Arnie thinks the unemployed, poor and starving children have too much social services, but I'm sure these 'less wealthy' will get his sympathetic ear. He'll probably find another luxury tax to cut for them or maybe a regular tax rebate just for them. Reply
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