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World Millionaire Population Grows 7.5%

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NU Online News Service, June 15, 2004, 1:37 p.m. EDT – The world’s population of millionaires increased 7.5% between the end of 2002 and the end of 2003, to 7.7 million.[@@]

Researchers at Capgemini S.A., Paris, and Merrill Lynch & Company Inc., New York, counted people with at least $1 million in financial assets. The personal asset total excluded the value of people’s homes.

The total global wealth of high net worth individuals climbed 7.7%, to $2.8 billion, thanks to the stock market rally and solid global economic growth.

While the ranks of the wealthy swelled in Asia and North America, the number of high net worth individuals living in Europe increased only 2.4%, to 2.6 million, researchers report.