France is second to the U.S. in creating new millionaires.
Over the past 12 months, the world has welcomed almost two million new millionaires, and the vast majority of them come from the United States.
A study by Credit Suisse shows that 1.8 million new millionaires were added to the world’s ranks over a 12-month period ending in October, and almost 1.7 million of them came from the United States. The U.S. now has 13.2 million millionaires, according to the research. The world has 31.6 million millionaires.
Credit Suisse gives credit to rising stock markets and a rebound in the housing market as reason for the rise in American millionaires.
In terms of new millionaires, France has the second most newcomers with 287,000, and Germany added 221,000 new millionaires. Italy and the United Kingdom rounded out the top five in millionaire creation.
China came in seventh on the list with 90,000 new millionaires. Canada is ninth with 46,000 new millionaires.
Among countries losing millionaires, Japan dropped 1.3 million millionaires, and Brazil lost 1.2 million. Argentina, South Africa and Russia were third, fourth and fifth in the loss of the seven-figure residents.
According to the Credit Suisse Global Wealth Report, the United States is home to 42 percent of the world’s millionaires, and Europe hosts 39 percent. For the first time in at least 30 years, Japan has less than 10 percent of the world’s millionaires.
Credit Suisse estimates that there are more than two million people with a net worth of between $5 million and $10 million, and that there are 98,700 humans with a net worth of $50 million or more. The estimate of people with a net worth of $100 million or more is 33,990.
The report also estimates that the millionaires who represent one percent of the world’s population control 41 percent of its wealth, at $98.7 trillion. ,
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.