More Millionaires in 2001

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.

A World of Wealth

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
* Canada accounts for 120,000 HNWIs
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