World's wealthiest people now richer than before the credit crunch

[defendandprotect]

We are not all in this together. The UK economy is flat, the US is weak and the Greek debt crisis, according to some commentators, is threatening another Lehman Brothers-style meltdown. But a new report shows the world's wealthiest people are getting more prosperous – and more numerous – by the day.

The globe's richest have now recouped the losses they suffered after the 2008 banking crisis. They are richer than ever, and there are more of them – nearly 11 million – than before the recession struck.

In the world of the well-heeled, the rich are referred to as "high net worth individuals" (HNWIs) and defined as people who have more than $1m (£620,000) of free cash.

According to the annual world wealth report by Merrill Lynch and Capgemini, the wealth of HNWIs around the world reached $42.7tn (£26.5tn) in 2010, rising nearly 10% in a year and surpassing the peak of $40.7tn reached in 2007, even as austerity budgets were implemented by many governments in the developed world.


http://www.guardian.co.uk/business/2011/jun/22/worlds-wealthiest-people-now-richer-than-before-the-credit-crunch

[amborin]

1. K&R and

great minds think alike:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1346265

[eppur_se_muova]

2. That means it worked! nt

[madmax]

3. Yay! so happy to read this.

:sarcasm: :mad:

[GeorgeGist]

4. Jedi master!!