World has more millionaires than ever at 10.9m

DESPITE the banking crisis and the recent world recession the world has more millionaires than ever.

New statistics show how the globe’s millionaire population beat the pre-crisis 2007 high last year and hit a figure of 10.9 million.

According to a new report on high net worth individuals, defined as those worth $1m or more, excluding family homes, consumer durables, etc, the numbers enjoying such wealth rose 8.3% to 10.9m while their financial wealth grew 9.7% to reach a staggering US$42.7 trillion.