U.S. Losing Millionaires, As China And India Gain Them
(Huffington Post) – The number of people in the United States worth more than a million dollars is dropping. That’s according to a study was released by the Boston Consulting Group, a global management consulting firm.
Currently just over 5 million American households are worth one million dollars or more. The drop is in part due to nearly 1% loss in private wealth in North American in 2011. Meanwhile china and India have seen a 10% growth in the number of millionaires in those countries. Overall the so called BRIC countries, Brazil, Russia, India and China have seen a 10% increase in private wealth because of strong GDP growth.
To read the full story, click here.