Tuesday, March 16, 2010
Last year may have been bad for a lot of American families struggling to survive the bad economic times, but the wealthy had no trouble rebounding from the 2008 downturn and expanding their ranks.
A survey conducted by the Spectrem Group found the number of millionaires in the U.S. grew by 16% in 2009. A millionaire is defined as someone with a net worth of $1 million, not including a primary residence. The year before, the number of millionaires had declined by 27%. Better times in the stock market were credited for the turnaround from 2008 to 2009.
There are about 6.7 million families in the country today with a net worth of $1 million or more.
The survey also discovered that “affluent households” (defined as those with net assets of $500,000 or more) jumped 12%, to 12.7 million. Also, the number of households with a net worth of more than $5 million rose 17%, to 980,000.
-Noel Brinkerhoff
U.S. Millionaires’ Ranks Rose 16% in 2009, Study Says (by Alexis Leondis, Business Week)
U.S. Millionaires Grow 16% to 7.8 Million in 2009 (Spectrem Group)
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