Number of Millionaires in U.S. Decreases but Spikes Worldwide (TIME Moneyland)

The U.S. is still the leader in number of millionaire households, but the number is on the decline, according to a report by Boston Consulting Group. The number of households that have a net worth over $1 million in the U.S. decreased by 129,000 in 2011, but the number increased to 175,000 globally. But the 5.1 million millionaire households in the U.S. is still a big lead over the next two closest countries: Japan (1.6 million) and China (1.4 million). Excluding Japan, which has been struggling economically, the shift of wealth has been moving quickly toward Asia over the last decade—China and India specifically. Wealth in Asia increased by 10.7% ($23.7 trillion) and declined 0.9% ($38 trillion) in North America. Of households with more than $100 million, the U.S. leads with 2,928. Britain is second with 1,125.