The Rich Are Now Richer Than Before The 2008 Credit Meltdown

The Rich Are Now Richer Than Before The 2008 Credit Meltdown

By Donal on Tue, 07/12/2011 - 6:58pm |

Unemployment is at 9.2%, the ruins of the U.S. housing market are still smoldering after the 2008 bonfire, and Greece, Italy and Portugal are balancing on the razor’s edge of default. But the planet’s rich are getting richer, especially in the growing BRIC economies.

In fact, there are more rich people on the planet today than before the credit crisis destroyed Lehman Brothers and Bear Stearns and nearly crippled the World’s financial industry.

A study from Capgemini and Bank of America Merrill Lynch showed that the World’s population of High Net Worth Individuals (HNWI) with $1 million or more in investable assets (read, extra cash) jumped 8.3% over the last year to a total of 10.9 million people. That number is up from the 2007 tally of 10.1 million tycoons.

URL:

http://blogs.forbes.com/stevenbertoni/2011/07/12/the-rich-are-now-richer-than-before-the-2008-credit-meltdown/