Making the rich richer

Making the rich richer

Quelle surprise! The rich made a killing in the financial crisis.

The Guardian tells us that the rich are now even richer than they were before the financial crisis. According to a report by Merrill Lynch and Capgemini, the wealth of high net worth individuals around the world reached a whopping $42.7 trillion in 2010. That's right, the world's wealthiest are now worth $43 trillion. This was up nearly 10% in a year and it surpassed the peak of $40.7 trillion reached in 2007, before the crisis.

The number of "ultra-high net worth individuals" – those with $30 million in loose change – has risen 10%. The total value of their investments jumped by 11.5% to $15 trillion.

And while the American economy continues to struggle, the US remains home to the most millionaires in the world, with 3.1 million individuals accounting for 28.9 percent of the global population of high net-worth people.

Work that one out if you can. Just further proof of the old saying that the rich get richer, and get richer faster.


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