More Millionaires in 2001
By Jennifer Heebner, Senior associate Editor -- JCK-Jewelers Circular Keystone, 3/1/2003
Some 2.1 million high-net-worth people lived in the United States in 2001, according to a recent banking industry study. According to the 2002 World Wealth Report from Merrill Lynch and Cap Gemini Ernst & Young, both located in New York, high-net-worth individuals have financial assets—not counting real estate—of at least $1 million.
An even wealthier group—ultra-high-net-worth individuals (UHNWIs)—have financial assets of at least $30 million. Some 57,000 individuals worldwide—an increase of 2.6% over year 2000 numbers—earned that title in 2001. These UHNWIs have combined assets of $8.37 trillion, which represents a 3% increase in wealth over the previous year's figure.
By contrast, the median net worth of U.S. households is just over $40,000, according to the U.S. Census Bureau.
| Region | Growth During 2001 | World Share of Wealth in Trillions | HNWI's Net Worth | Number of Millionaires | Growth Since 1986 | Predicted Growth by End of 2006 |
| Asia | 7.1% | 20% | ||||
| Europe | 0% | 32% | $8.4 | 2.54 mil. | 440% | $12.3 |
| Latin America | 8.0% | 13% | $3.5 | 280,000 | 275% | $5.1 |
| Middle East | 0% | 3.8% | ||||
| North America* | 1.7% | 29% | $7.6 | 2.22 mil. | 313% | $11.2 |
| Total | 3% | 100% | $26.2 | 7.1 mil. | % | $38.5 |
| * Canada accounts for 120,000 HNWIs |
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